So what happened?
Firstly we were impressed by the speed at which the teams had taken on board advice given the previous day. Investors pay a lot of attention to how teams receive, process, and ultimately iterate feedback so it is an essential element of an investable team.
We are going to continue working with some of the teams with an eye to investing in the future, and have invited them to other Mini Seedcamps to see how they develop and allow them to receive more advice.
We are still considering a more immediate investment in one of the start-ups, this is a work in progress so watch this space.
It is worth stressing that investment isn’t the be all and end all of a Seedcamp. Winning teams also gain:
• Validation – Future partners and investors are attracted by the seal of approval provided by winning a Seedcamp.
• A network – During the course of the day, teams meet with tens of successful entrepreneurs, investors and product experts. And Seedcamp works with the winning teams, helping to make introductions and open doors.
• Advice – Four hours of intensive mentoring really helps a team define and improve their proposition.
So congratulations again to the five winners and watch this space for further developments.