What kind of opportunities will Fjord Ventures consider?
We seek opportunities where the market is large and growing. We are unlikely to work on “me too” ideas. We are focused on “building Cathedrals” rather than “operating cement mixers”. In other words, even though unique technologies are important, understanding the problem to be solved and the size of the opportunity is most important.
What is the best way to get introduced to Fjord Ventures and have my idea evaluated?
The best way is to email your non-confidential business plan with a 2-3 page executive summary of the business proposal along with your background information. The email to submit ideas is included on our contact page. Please remember to include your email address and the best time and phone number to reach you. Upon review of the business plan, an in-person meeting is organized where the two teams meet and begin collaboration. In addition, members of Fjord Ventures attend all of the major medical meetings where in-person meetings can easily be arranged.
Who determines the milestones and sets direction?
Our concept is to build on the expertise of the original founders. Fjord Ventures will engage its network of advisors in the process. The business plan will be agreed to before the formal cooperation is established.
Does Fjord Ventures always take a board seat?
Typically a board seat is reserved for a Fjord Ventures board member.
How does Fjord Ventures work to limit dilution of my idea or my future profitability?
Fjord Ventures has an office with a broad infrastructure of finance administration, business law, laboratories, office management, product management, regulatory etc. The use of these shared services represents savings at the early stage of a start-up company when the dilution from early capital investments are felt the most. We also have a very positive experience with “the virtual company” where several of the resources are working out of academic and other institutions. Many universities support this type of involvement today.
We realize the need for financial backing of our companies. It is our experience that financial backers will always be available for good business ideas with well-run operations.
How is Fjord Ventures different from a regular Venture Capital firm?
Normally, a venture capital firm operates on an arms- length basis. Fjord Ventures is a hands-on firm. We get involved in the operation of the company and may provide many of the operational resources. We also work to align incentives between management and investors.