Chapter 3
The first tendrils of sunshine filtered into the bedroom, revealing Emma's face, marked by the aftermath of her tears from the previous night. Regret claimed as her eyes resembled the puffs. She silently praised the genius who invented the sunglasses, using them as a shield in the following days. Stockholm, though not sprawling, had unveiled its charms of the top 30 attractions during Emma's week-long aggressive exploration. Understandably yet disappointingly absent throughout the entire week, William's silence weighed more and more heavily on her. The notion of returning to the familiar streets of London teased her thoughts, yet the sting of departing with unmet support challenged her pride. She had left resolutely; returning now felt like an admission of defeat.
No! This was not acceptable! Emma fortified her resolve, convinced that she had to carve something meaningful out of her time in this new country. With a determined gesture, she unfurled her laptop, delving into an intricate matrix of plans spanning from daily routines to career objectives. A planning virtuoso since her university days, Emma methodically crafted a roadmap for her near future in a matter of hours.
It became apparent – to thrive in this unfamiliar landscape, she needed a steady income, a job that could anchor her plans in reality.Having triumphed in her recruitment endeavours, she generously extended guidance to younger students. The realms of researching and analysing sector and company information posed no challenge for her seasoned expertise. The initial stride involved comprehending the nuances of the local tech sector. During her tenure in the tech industry, even though Stockholm possessed a strong reputation in tech innovation, Sweden hadn't clearly been on her radar. Yet, cognizant of industry patterns while big tech companies halting hiring, she set her sights on the promising realm of startups. Strategically targeting tech incubators and accelerators, she struck gold when she discovered a startup workshop scheduled at the Ignition Labs, an accelerator, that upcoming Saturday. A perfect match. With her strong background in tech, it wasn't hard for Emma to get acceptance into the workshop.
On the awaited Saturday, Emma arrived ahead of schedule, eager to acquaint herself with the surroundings. The workshop unfolded within the confines of a contemporary glass structure, housing shared workspaces nestled within the city's innovation hub. Towering big tech names adorned the vicinity, creating an environment pulsating with innovation. Navigating to the meeting room and settling into her seat, Emma marvelled at the noticeable higher percentage of female participants. The egalitarian atmosphere in Stockholm's tech sector amazed her, a pleasant surprise that she savoured while partaking in the offered refreshments.
The tutor, a tall figure at an estimated 190cm, made an entrance that commanded attention. He sported a casual ensemble, a snug sweater beneath a puff coat, worn-out blue jeans, and surprisingly, a pair of white sneakers—quite the unconventional choice given the snowy ground. His well-trimmed golden hair and blue eyes, visible behind a pair of glasses with a sleek black cellulose acetate frame, painted the portrait of a quintessential, elegant Swedish gentleman. Despite exuding a cold and distant aura, the room buzzed with an energy fueled by the palpable excitement of the girls.
Erik Johansson, Emma discovered from the booklet collected at the entrance, a former programmer turned project manager at the renowned company Solaris. He had played a pivotal role in spearheading the project that developed the algorithm crucial for catapulting the company's flagship product to new heights in the market. Beyond his corporate endeavours, Erik assumed the role of a tutor at Ignition Labs, an accelerator dedicated to scale up promising deep-technology startups. Emma couldn't help but be impressed; she silently mocked, "This is gonna be fun."
The interactive tech startup workshop unfolded like a tapestry of creativity and ingenuity. The air buzzed with the electric energy of eager minds as engaging presentations, each a mosaic of cutting-edge concepts and visionary ideas, filled the room. From quantum computing breakthroughs to neurotech innovations, the contents of the workshop were a symphony of technological prowess and entrepreneurial spirit. Despite Erik initially emanating an air of cold detachment, Emma discerned his fervent passion for technology and entrepreneurship, from the meticulously prepared content and the dynamic discussions he sparked.
The discussions proved to be truly inspiring. Although Emma possessed a background in computer science, the deep-tech and entrepreneurship topics demanded a heightened level of critical thinking. Recognizing the challenge, she intensified her focus on the workshop, actively posing questions and contributing answers within her domain. Time flew and it was already the time for the last topic of the workshop: funding and valuation.
Securing funding during the crucial scaling phase was paramount for any startup. Valuation, an inevitable aspect when seeking investments from investors and funds, played a pivotal role. Although Emma lacked firsthand experience, her past exposure to William constructing financial models, coupled with his explanations of various valuation methodologies, especially those tailored for tech firms, proved invaluable at this moment. As Erik delved into the methods, Emma swiftly revisited key points etched in her memory.
Subsequently, Erik posed a thought-provoking question, "Understanding a company's value facilitates negotiations in investment terms. Can anyone highlight the primary challenges in valuing a deep-tech startup?"
Emma raised her hand. Erik lightly nodded to her.
"Deep-tech has high risk. The success rate will be a key focus of negotiation with investors. So assessing the success rate or progress of the product development will be the key."
Erik acknowledged Emma's insight with a nod and added, "You're correct, especially in scenarios where the prototype is still in development, as is often the case with biotech companies." He continued: "Alternatively, investors might establish revenue targets as a variable in the valuation process…"
As the workshop concluded, Emma found herself pleasantly surprised by the wealth of knowledge she had gained. Considering the valuable insights she had acquired, she contemplated seeking the tutor's contact for a potential coffee chat. He may be able to help! Emma thought. However, she wasn't alone in this sentiment, as a throng of participants had already surrounded Erik, seeking his expertise. As a newcomer in a strange place, Emma decided to exercise patience and waited modestly. However, the fervour of the crowd around Erik showed no signs of abating.
Raising her gaze, Emma found herself locking eyes with the deep blue gaze of Erik. With the number of participants dwindling, Erik made his way towards her.
Emma felt a sudden surge of nervousness. "Um... I'm new to the city. Would it be possible to have a coffee chat with you? I have several questions concerning the tech and startups here." Before Erik could respond, she hastily added, "Whenever it's convenient for you, of course..."
Sensing her nervousness, Erik chuckled and reassured, "No problem at all. Feel free to shoot me an email at the address in the booklet."
Emma responded with a nod and a big smile.
Primarily due to the strides made in her survival plan for Stockholm, Emma found herself in high spirits. Was there any other motivating factor? None at all, she concluded. With this newfound positivity, Emma resolved to cook a few dishes for her weekend dinner and set off for the grocery store.