“I am convinced that we will see more of these kinds of virtual incubators. Among the factors that are contributing to this trend are a decreased need for office space, increasing interest for on-demand services and the fact that many new companies operate in the intersection of physical and virtual worlds. Both traditional and cloud-based incubators will be important catalyst tools for regional development,” says Iris Öhrn, investment advisor for life science at Business Region Göteborg.
The new virtual incubator, Merxona Consulting (MC), will work with projects and tech startups within the area of life science.
“We welcome MC to Gothenburg. They will be an important player in helping nurture our start-ups until they can stand on their own feet, backed up by venture capital. MC can also play an important role in helping our existing physical incubators and accelerators such as Sahlgrenska Science Park, AZ Bioventure Hub, GU Venture or Chalmers Ventures, with specialised competence” says Iris Öhrn.
New office in the Gothenburg region
During the summer MC opened a hub-office in Havstensund, on the Bohus coast, north of Gothenburg. Anders Möllstam, the company’s CEO, explains:
“We decided to grow our company in West Sweden as this is a very innovative region and the startup cluster has a positive attitude to cooperation and win-win situations. You help me - I help you. We believe that MC will contribute to this cluster by adding competence and services that are either missing or are rare. For us, cooperation is the road to success in all business.”
Another important reason why MC chose Gothenburg is its location. The region offers good possibilities for expansion in the Nordic area, explains Möllstam, as Gothenburg is right in the middle of both Oslo and Copenhagen.
“And for me personally, born and raised in Majorna and Tuve [in Gothenburg], setting up here was also an easy decision to make.”
The company and its management have their roots in the area of life science. According to Möllstam, during their past life as entrepreneurs, they’ve executed more than 50 issuing of new shares and raised more than SEK 450 million. The aim of the new incubator is to help its members make the transition from an early stage startup to a stable venture equity financed company.
“We have developed an exclusive and IP-protected web-based business coaching tool that allows member companies to get support in their company-building activities at any time and from any position in the world,” says Anders Möllstam.
Möllstam is optimistic about the incubator’s growth prospects.
“During 2019 we plan to accept up to 20 new members and simultaneously improve our virtual coaching services with the help of AI. By the end of 2022, we expect to handle more than 200 members in our incubator, of which, 10% will have attracted capital from the MC Investment Fund.”
“We look forward to adding value and joining forces with the existing innovation ecosystem in Gothenburg,” he concludes.