Guest
Michael Böwadt
Michael Böwadt is CEO at SoundInvest, as introduced on the show.
Episodes (1)
Michael Böwadt and Rie Pripsø explain how SoundHub and SoundInvest support hardware-based SoundTech startups with acceleration and funding.
Questions these episodes answer
Why does Denmark have a strong sound tech industry?
Denmark has a long history of successful Hi-Fi and lifestyle brands, and its hearing aid industry accounts for over half of all hearing aids sold worldwide. This created a deep talent pool and stronghold for audio innovation.
Which startups perform best in the SoundHub accelerator?
Hardware-focused startups have gone the furthest in the program. Michael says the best performers have a significant hardware component, even though most investors tend to shy away from hardware businesses.
How does SoundInvest help startups raise more funding?
SoundInvest is the investment arm of SoundHub, and it has invested in six companies. Having an institutional investor who understands the space acts as validation, which has helped some startups start new investment rounds.
What is the survival rate of SoundHub startups?
Around 80% of startups SoundHub has worked with are still alive, which is far above the average. This is due to a selective application process, where they choose five to nine startups from around 50 applications each year.
What do founders need to succeed in sound tech?
Investors look for teams with domain knowledge, a small team in place, and genuine passion for the problem. They also need to be coachable and show fire in their eyes when pitching.