How Venture Cup Helped Start 5400+ Businesses in Sweden: Q/A with CEO Therese Olsson

Having a mentor has been the key to success for many aspiring business entrepreneurs who didn’t know how to validate their idea and weren’t even completely sure on how to execute it right.

Imagine if you had more than one mentor helping you. A LOT of mentors guiding you while keeping you accountable.

For 26 years Venture Cup has helped entrepreneurs submit over 18,000 business ideas to a poll of experienced entrepreneurs, investors, and academics, of which 30% turned into successful businesses, like LumenRadio, RaySearch Laboratories, Naked Juicebar, Lensway and more.

In this interview for Website Planet, I asked Therese Olsson, VD/CEO at Venture Cup, how they help people test their business ideas and generate new fundings every year.

What is the mission of Venture Cup Sweden?

Venture Cup Sweden mission is to stimulate the creation of new businesses with sustainable growth. Through our business competitions combined with feedback, education, mentoring, and inspiration, Venture Cup Sweden supports the development of business ideas, nurtures entrepreneurs, and increases interest in entrepreneurship in Sweden.

How do the competitions organized by Venture Cup Sweden contribute to the creation of sustainable companies, and what kind of impact have you seen on past participants?

Most journeys in entrepreneurship begin with Venture Cup Sweden. It serves as a crucial starting point for countless aspiring businesses. To highlight a few of the success stories that have emerged from Venture Cup Sweden, we can point to notable companies such as LumenRadio, RaySearch Laboratories, Naked Juicebar, Lensway, and many others. It’s worth noting that over 30,000 individuals have actively participated in Venture Cup Sweden.

The competitions aim to provide participants with mentorship and access to investors, while helping create a supportive community of entrepreneurs and investors, which has so far greatly contributed to the growth of the Swedish startup ecosystem

In what ways do you assist entrepreneurs in validating and developing their ideas?

We actively provide feedback to all participants in our competitions, a crucial aspect of our support system. We support entrepreneurs in various ways to help them develop their ideas and refine their business ideas. Our efforts focus on increasing their exposure and facilitating connections within our extensive network.

All our partners are businesses dedicated to supporting entrepreneurship, ready to actively engage and provide support. By leveraging this collaborative environment, entrepreneurs not only gain valuable insights but also access a supportive community committed to helping them navigate the challenges of business development.

Can you share any example of startups that emerged from Venture Cup Sweden and have made a significant impact in their industry?

One notable success story that emerged from Venture Cup Sweden is RaySearch Laboratories. The company, founded by CEO Johan Löf, not only stands out for its technological advancements but also for its commitment to Venture Cup Sweden mission. Johan Löf, who also serves as the Chairman of the Board, is a strong advocate for fostering entrepreneurship.

RaySearch Laboratories plays a vital role in the healthcare sector, specifically in saving lives. The company’s innovative technologies contribute significantly to advancements in medical treatment and have a profound impact on patient outcomes.

‘’RaySearch Laboratories would never exist today if I had not come into contact with Venture Cup.’’

Johan Löf, founder of RaySearch Laboratories

It’s through visionary leaders like Johan and success stories like RaySearch Laboratories that we continue to inspire and support the next generation of entrepreneurs.

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With a rich history of 26 years, Venture Cup Sweden not only serves as a source of inspiration for aspiring entrepreneurs but also as a valuable resource for shaping and refining their ideas.

What sets Venture Cup Sweden apart is its inclusive nature — a competition where everyone, regardless of background or age, can participate. It’s not just about startups; it’s about fostering a community where dreams take flight. So, if you’re eager to support tomorrow’s rising stars and be part of a platform where dreams come to life, consider joining Venture Cup Sweden. After all, you wouldn’t want to miss out on the next unicorn, would you?