Startup Community: Startup funding in the coronavirus era – are you impacted? 

Investment declining in 2020? (photo: Pixabay)
June 13th, 2020 4:57 pm| by Thomas Hørsted 
Facebooktwitterpinterestmail

Today, I am dedicating this space to a volunteer project that I am a part of called Corona-Funding. It is a non-profit initiative to provide support to impacted startups in Denmark.

The angels have fallen
Fear, uncertainty and doubt is part of any recession. And that is especially true when it comes to startup funding. Corporate venture capital programs shut down, business angels stay on the sidelines, VC funding dries up, and money is no longer being ploughed back into new investments. 

Investors have already changed their mindset and approach and will reduce their investments in 2020. And that will ultimately kill startups, innovation, solutions and impact. 

It should be expected that for multiple months it will be very difficult to fundraise as a startup. And maybe you have felt it already. Maybe you were in the middle of fundraising when the Coronavirus Crisis struck? Or maybe you were preparing to raise funds? Or maybe an investor pulled out last minute? Well here is your chance for extra support. 

Enter the heroes
I am a part of a volunteer project, corona-funding.org, which is a non-profit initiative to assist impacted startups in Denmark with fundraising. It was launched by a group of experienced entrepreneurs and business leaders who collectively have a substantial fundraising track record. With more than 20 volunteers now, all passionate about supporting and giving back to startups, we are all offering our time during this new turbulent and uncertain reality. 

The concept is really simple: we gather a pool of strong investment cases, all with relevant impact for people and planet; we assess their potential, their business models and extent to which they are being impacted by Covid-19; we  present the most viable cases to their network of angel investors and VCs via online events; we take no fees or any other payment and everyone involved is working on a volunteer basis; and we work to keep the dialogue between startups and investors going so that seeds are planted and relationships built. 

So if you are a startup based in Denmark with a focus on creating value and impact for people and the planet, which is also inherently a healthy business but in danger of running out of capital due to the coronavirus – then apply today. We will do our very best to help. 

Stay safe and stay well! 

Thomas Hørsted 


Thomas (@thomas_hors) is the former co-founder of Startup Guide – The Entrepreneur’s Handbook and a former startup scout for IKEA Bootcamp. He is currently the COO for Tiimo, a Danish startup delivering an assistive app to kids with ADHD, autism and brain damage. He is also a limited partner and investor in The Nordic Web Ventures, which invests in early-stage Nordic startups.