Ernests Stals

I have been involved in startups since 2012 and am currently working on my revolutionary startup UchGuch. Among consultants, I often meet the opinion that a startup team needs to focus on one idea. But this is contrary to the skills of a startup team, if you meet a cool startup team, they can quickly come up with and validate ideas and this is their main task in the market, that's why they are looking for investments, to create a team that will develop a failed successful idea. But practically none of the available tools on the market allows a startup team to register or apply for all the ideas they have in the pipeline at once. Often startups themselves burn out as the graveyard of hypotheses grows. If a startup team cannot recognize in time that their hypothesis is not promising and honestly tell the investor about it, a lot of money will be spent and there will be a lot of frustration for everyone. The series Billions Season 3 Episode 3: - This box can't be put back together, right? It has to be thought of and acknowledged?

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What is vesting in startups? Imagine you have a co-founder, and you both decide to start a business together with a 50/50 split of the shares. After 12 months, your co-founder decides that startup life is just too hard and he can no longer work 80 hours a week without a salary. He gets a full-time job and prioritizes a stable, easy life over the risky and stressful life of a startup founder. However, you decide to stay and keep building. Then, in 5 years, you get an acquisition offer for $100 million. Your co-founder comes back and says he wants half of that. It wouldn't be fair, right? This is what happens to many startups. A vesting agreement is designed to ensure that the above scenario doesn’t happen. If a co-founder leaves within a year, they would lose all their equity under a startup vesting agreement. Follow me to learn about startups! 🔔 I am the founder of an EdTech AI startup, building an AI-powered higher education and career- building tool. #StartupLife #Entrepreneurship #Vesting #Equity #Founders #StartupAdvice #TechStartups #BusinessGrowth #CoFounders #StartupTips

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#VCNEWS: 📊💸 Superhero Capital, a Helsinki-based venture capital firm dedicated to investing in early-stage software startups across Finland and the Baltics, has launched its fourth fund. 📈 With a target of €50 million, this new fund signifies a leap in their commitment to supporting founders in creating meaningful change. Limited Partners in the new fund include Elo Mutual Pension Insurance Company and the Finnish state-owned venture capital and private equity company Tesi. 🤖 Read more here: https://lnkd.in/e8fvvgP2 #Nordic #tech #funding #news #VC #startup #investment #technology #innovation #EUtech CyberUpgrade Jakob Storå, Juha Ruohonen Jussi Harvela Enni Rautio Gytenis Galkis

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For founders who are in a fundraising process, remember it is a business transaction. It is not a matter of faith: You may be a great entrepreneur, but your company might not be in the VC investment thesis. You should not compare yourself to other companies that have raised funds with a silly project, and ask for a fundraise based on the fact that you think you are better. Venture Capitalists make mistakes as well, they do not want you to be there next one even though it is a volume game. So it causes a lot of emotions. Don’t use it to get enraged by cherry picking small things and make it personal. A VC should be a simple to understand partner to participate in the company’s growth. That is how you should select them and how most of them want to work as well. Again, it is a volume game for them, and they count on you to focus on your business. The customer is complicated enough to deal with, founders and VCs are ideally supposed to have a very simple relationship.

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NGL or Lithuanian Business Angel Network LitBAN — Which is Right for You? 🤖🎙️ Recently, NGL closed its biggest syndicate ever at €423K, contributing to the €1.45M investment in Aispeco, a cutting-edge geomatics startup. With support from Innovestor Venture Capital, Superhero Capital, and NGL, Aispeco is set to continue innovating and expanding globally. 🌍 But that’s not all! NGL, founded in 2022 by Justinas Pašys, operates with a syndicate-based model, bringing together up to 30 angels per round, with an average investment of €300K. On the other hand, LitBAN continues to lead with a broad network of over 350 members, having driven over €30M into the Lithuanian startup ecosystem since 2018. Which is Right for You? 🤔 🎧 Want to know more about how these two organizations are shaping the Lithuanian startup landscape? Tune in to the latest episode of Venture brAIn, where we dive deeper into the role of business angels and how startups can secure funding. Link in the comments 👇 #startups #venturecapital #Lithuania #innovation #NGL #LitBAN #businessangels #VenturebrAIn 🤖🎙️How It All Comes Together: My process is automated and AI-driven. I use Make.com to collect daily data from various sources, filter interesting topics based on specific criteria, and then generate prompts with ChatGPT. The podcast itself is created using NotebookML, while images are crafted with Leonardo.ai and Canva. All materials are brought together via Make.com workflows, ensuring a seamless production flow, including scheduling posts directly to Social. 🚀

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There should be a checklist for founders to determine if they've achieved Product-Market Fit.

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 🚨 The updated Baltic Startup Funding Report (H1 2024) is now out! 🚨 🔗 https://lnkd.in/ewfWkjvC This report is a co-creation of Change Ventures and FIRSTPICK, and it provides valuable information on the Baltic startup fundraising scene with insights on pre-seed and seed valuations, revenue metrics, and more! Take a sneak peek at some of the insights below, and check out the full report to uncover additional findings. 👀

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Running a startup is hard, here is why and what to do about it. Your TODO list never stops growing - and you will NEVER get it down to zero. No matter how many hours you push, or how hard you try. There are always one more thing to do. Another email you could write, another feature to build, or another customer to get. Thus, knowing how to deal with the pressure is key. Here are 7 ways I wind down - and deal with the rollercoaster of running a startup: ✅ Always get 8 hours of sleep and aim for > 80 sleep score (I use Garmin for sleep tracking) ✅ Learn to not feel guilty when you don’t work - take a night off, have dinner with friends, etc. ✅ Do activities that detach from work completely - triathlon and reading books are my go-to's. ✅ Work out x3 times a week and aim for VO2Max > 55 - healthy body → healthy mind - there are few problems that won't feel easier after a run. ✅ Build value outside of work - joining some occasional competitions in triathlon helps me build value outside of my startup. ✅ Regular sauna + daily cold plunge - the lazy version of working out. ✅ Spend time outside - hike in the forest, get out on the water, run to work. What are your top tips to wind down? PS. me on a SUP ride yesterday around Kungsholmen - Stockholm is imo one of the most beautiful cities in the world.

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I never found a good guide on how to run a strategic session. So, we created our own at Fuel. When I share how we do it, many founders are often impressed. We usually spend 2 days on it, but this time we went outside the city. No distractions, just focus. We had two main goals: 1/ Run a strategic session. 2/ Spend quality time together. Since we’re a fully remote team, this time is super valuable. Honestly, the best moments—our dinners, talks, laughs—that’s when the real connection happens. Here’s our 6-step playbook for running strategic sessions at Fuel: 🟢 Before the session 1️⃣ CEO’s Deck: I send out a deck 2-3 weeks ahead. It includes our long-term goals (5-10 years), short-term tactics (1-3 years), and win goals for the next year. I focus on key areas: customers (NPS, retention, etc.), finance (valuation, revenue, fundraising), and sales & marketing. I also include where we are now in each area, along with a list of big questions we need to answer as a team. 2️⃣ Exec Team Decks: Each exec shares their own deck. These cover what we’ve learned from past projects (scale or stop?), analysis of key metrics (plan vs. actual), and decisions we need to make. They also list what info or data they need from each other. 🟢 During the session 3️⃣ Day 1: We go through all the presentations, brainstorming ideas, projects, and decisions. We also make a list of all crazy ideas (without judgements) in marketing, sales, and product. 4️⃣ Day 2: We prioritize those ideas based on how much effort they need vs. the value they bring. We mark each one as High/Medium/Low input/output. Then we add timelines, risks, who’s responsible, and which team members are involved. 🟢 After the session 5️⃣ Two weeks later: We spend the next two weeks finalizing projects, adding details like what resources we need (new hires, budgets) and what outcomes we expect. 6️⃣ Execs & Financial Manager: The execs share their finalized projects with our financial manager, who updates our financial plan. We then review everything together — how the projects will impact our key metrics: revenue, retention, gross profit margin, logos, runway, burn rate, etc. If we’re not happy with the results, we adjust the projects and try different financial scenarios. 🔵 Tips: ▪ Keep decks under 15 slides. Less is more. ▪ Send CEO deck 2-3 weeks ahead for better team focus. ▪ Save prep time with quarterly sessions and an always-updated metrics dashboard. And planning is just the start. We do weekly plan vs. actual analysis to make sure we’re staying on course. Finally, the most crucial piece of the puzzle: the great team! Yaroslav Azhnyuk Dariya Vyshnevska Oleksandr Riabukha Christy Ilkovych Alina Hura Roman Lobas

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Exciting Opportunity for Early-Stage Startups with ReaktorX! If you’re an early-stage startup looking for hands-on support to build something great, ReaktorX is a program worth checking out. What makes this opportunity even more exciting? Here are some reasons: — They’ll invest €25K on Day One at a €500K valuation — even if you’re just at the idea stage. — Funding is 100% private, coming from SMOK Ventures so you avoid the headaches of grant reporting and get a real VC on your cap table. — Instead of workshops, you get a one-week bootcamp in a CEE city, designed to help you focus on building something your customers actually want. — The program is hands-on and includes 8 weeks of mentoring from experienced founders who’ve built unicorns — and they’ll have vested equity in your success. — It all wraps with a month-long U.S. trip where startups connect with and sign real customers. ReaktorX has already supported amazing projects like hiPets, ViralTalk - Dedicated TikTok Agency, Hashiona, The Linghos, Lofty and many others. The results speak for themselves: raised funding, big ARR milestones, and exciting growth stories. If this sounds like what your startup needs, applications for Batch #13 are open. 📅 Deadline: 16th February 2025. 👉 Check it out here: https://reaktorx.com/ Fasten your seatbelts!

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📊 The Baltic startup scene in 2024—how's it holding up? The latest report by Change Ventures and FIRSTPICK is here, diving into key funding trends across the region, revealing insights on: 1️⃣ Who’s raising funds? 2️⃣ Where’s the money coming from? 3️⃣ Which sectors are thriving (or just surviving)? Some of the standout findings: 💸 Estonia remains the leader in startup funding per capita, but Latvia and Lithuania are catching up, especially in pre-seed valuations. 📉 Decline in pre-seed and seed rounds as investors become more selective, with a strong focus on AI-driven startups 🤖. 💡 Pre-seed funding is increasingly directed at pre-revenue startups, while seed rounds are under pressure to demonstrate higher revenues. 📜 Convertible notes dominate pre-seed rounds, with median valuation caps around €3 million and average discount rates now at 20%. 🌐 AI-focused startups are driving a nearly 30% rise in pre-seed valuations, especially in 🇱🇹 and 🇱🇻. Dive into the full report for more insights on the trends shaping the Baltic startup landscape 👉 https://lnkd.in/gy8NvZQb

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Curious about angel investing? 🙌 Now’s your chance to get started – the 10th Lithuanian Business Angel Network LitBAN Angel School begins on September 10th! It features live and online sessions, during which experienced business angels will discuss investment strategies, legal considerations, taxes, startup evaluation, and much more. Our Founder & Attorney, Daina Senapediene, will also share her valuable insights about legal matters & taxes! 📍 For more details, reach out to Lithuanian Business Angel Network LitBAN, Roberta Rudokiene or email at info@litban.lt #AngelInvesting #AngelSchool #LitBAN

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Lithuanian startup Softloans raised a $1 million pre-seed from FIRSTPICK to boost the loan approval in Lithuania. Lithuanian startup #Softloans has just secured a significant €1 million pre-seed investment round led by #FIRSTPICK. Founded in 2022 by Audrius Griskevicius, Edmundas Kevisas, and Aleksandras Kunickas, Softloans is on a mission to revolutionize financing for small and medium-sized enterprises (SMEs). Their platform offers a suite of financing tools, from data collection to risk assessment, aimed at facilitating revenue-based lending for web-based merchants and digital service providers. With the aim to bridge the gap between global e-commerce giants and SMEs, Softloans' innovative approach to embedded financing allows businesses to easily access loans through the digital platforms they already use for their operations. This means quick and accurate risk assessment for e-shops, followed by automated monitoring and repayment processes. In just two years, Softloans has already amassed around 1,000 corporate clients spanning across Lithuania, Latvia, Estonia, the Netherlands, Finland, and Poland. Their rapid growth underscores the demand for accessible financing solutions in the digital marketplace. FIRSTPICK, the lead investor in this round, is a prominent #VC fund and accelerator specializing in early-stage tech startups across the Baltics. With a focus on #fintech, SaaS, deeptech, and consumer marketplaces, FIRSTPICK boasts a diverse portfolio of successful ventures. Their willingness to invest up to €1 million in a single company through follow-on rounds speaks to their confidence in Softloans' potential. This investment not only validates Softloans' innovative approach but also paves the way for further expansion and development. As they continue to empower SMEs with accessible financing solutions, Softloans is poised to make a significant impact in the global digital economy. The article on Vestbee in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

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Securing funding as a startup entrepreneur can feel like navigating a maze in the dark. ❖ Constantly pitching to investors, only to face rejection after rejection. ❖ Struggling to find funds without losing equity in your dream company. ❖ Drowning in a sea of paperwork and strict requirements. I get it. I’ve been there, and I know how frustrating and demoralizing it can be. But what if I told you there's a better way? At Burns Funding, we've pioneered a unique funding mechanism that flips the script on traditional startup financing. Here’s how: ❖ Unsecured Funding: You don’t need to put your assets on the line. We provide unsecured loans, freeing you from the stress of collateral. ❖ No Repayment Hassle: We invest a portion of the funds to generate returns that cover your payments. Imagine focusing on growing your business instead of worrying about repayments. ❖ Pre-Approved Applicants: With a 630 FICO credit score you’re automatically pre-approved. No more grueling vetting processes. Sounds too good to be true? It’s not. This innovative approach allows entrepreneurs like you to receive $100k-$150k on average, with some even securing up to $800k. Entrepreneurs deserve a funding solution as innovative as their ideas. At Burns Funding, we’re committed to making that a reality. Don't let traditional funding challenges hold you back. Let's turn your vision into reality without sacrificing equity or peace of mind. Reach out today and discover how Burns Funding can fuel your entrepreneurial journey. 🚀 #Entrepreneurship #StartupFunding #InnovativeFinance #BurnsFunding

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The Baltic HealthTech Ecosystem: interesting insights from 4PM Ventures:

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We wrap up 2024 - the first year for Weby.vc. 🤘 Here are the main highlights:  - 2 new startup superstars, Ādams Taranda and Matiss Katanenko, were born. We have no doubt they will make their mark on the Latvian startup scene in the future. 🙌  - Our projects reached an accumulated MRR of $90K 💵  - Managed to fail around 6 project ideas quickly 🫣  - 2 new own projects managed to get revenue 💲  - Acquired 3 profitable projects on acquire.com and Flippa.com 👏  - Acquisition of the year goes to manthatlooksgood.com with an expected yearly return of 250% 🤑  - Significantly grew our SEO knowledge and expanded the team with our SEO guru, Evija Brikmane 🙏  - Donated to Rīgas Ekonomikas augstskola - Stockholm School of Economics in Riga new student scholarships and became one of the founding members of StartSchool. Let's go! 🤩 Overall, this year was fun, with many lessons for the next ones. We continue to look for ambitious startup founders with their own ideas or who are interested in working on our projects. We are also looking for full-stack and front-end developers. 🦾 It has never been a better time to launch your own bootstrapped startup. Happy New Year! Let’s build! 🚀

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💫 This morning, we brought together investors and founders with our partners from Creandum for "Breakfast with Founders” 🚀 Dan Lupu - Venture Partner Earlybird Venture Capital & Early Stage Investor, Lars Nordwall - Creandum Venture Partner, Bogdan Ripa - Cofounder and Chief Product Officer Genezio talked about how startups should approach international growth and the differences between the European and US markets. They focused on when and how to consider entering the US market and how to recruit the development team for this market. ▶️ "When you recruit people for the US market, first look at their LinkedIn profile. It takes two minutes to do this scan. For example, if they have changed a lot of jobs in a short time, that's a red flag or maybe they were unlucky. But I prefer lucky people. Then look for references about them, look for what goals and achievements they had in the past. And, although it is very hard, try to figure out in what phase of their life they are in, if they have certain problems if they are physically and mentally capable for the challenge you are going to them with," said Lars Nordwall - Creandum Venture Partner. ▶️ "One of the mistakes we've seen over the years is the mythical expansion into the US market. Often this expansion is a pressure from investors. We've seen this over and over and many founders thought they could expand by outsourcing this process without much involvement. Founders like to travel to the US but not to live there. And you can't do it that way. If you recruit sales people you'll see that they only fulfill 60% of their goals, and at 80% they already want a bonus. It won't work. If you have to pay 100 people and only 60% meet their targets, you have huge costs and you are in a no return situation", stated Dan Lupu - Venture Partner Earlybird Ventor Capital & Early Stage Investor ▶️ "When you want to expand in the US, just if you don't speak native English, you lose 10 IQ points in front of potential partners. People in the US have a very different way of presenting themselves, of selling themselves. Just listening to them you fall in love with them. But then you start working with them. So over the years I've learned to trust especially the more introverted people", said Bogdan Ripa - Cofounder and Chief Product Officer Genezio. Dan Mihaescu Cosmin Ochisor Alex Ruff Sergiu Rosca Robert Herscovici Gabriela Dia Andrei Pitis Sergiu Negut Mihai Guran Costin Tudor Cristian Dascalu Stefan Iarca Andreea Purcaru #GapMinder #Creandum #HowToWeb #investment #Founders

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What's driving 🇪🇪 Estonia's startup boom? In this interview, we had a 💬 chat with Tim Vaino, Investment Manager at Change Ventures and Co-Founder at Fund Fellow Founders (fff.vc), who shared his insights from the Estonian startup scene to deeptech trends and 💰 fundraising tips. 1️⃣ AS A BALTIC INVESTOR, ANY ESTONIAN SCENE SURPRISES? Estonia is a unique place; it seems like we always have a tech solution to non-tech problems and a successful one at that! It constantly surprises me that the drive, mission, and potential to make things happen are always present. No matter the niche, Estonian companies are among the global leaders in these fields. We're always ready to innovate and scale up, and foreign investors recognize this, deploying significant capital in Estonia! (Yes, I'm referring to success stories like Bolt, Wise, Skype, and Pipedrive 😉) 2️⃣ BIGGEST CHANGE IN ESTONIAN STARTUPS RECENTLY? Founders' quality has 📈 significantly improved. Many ex-unicorn employees are now launching their ventures, raising the bar. With fierce market competition, startups must deliver quality. Confidence among local founders is soaring, and every startup seems to integrate AI — it's become essential. 3️⃣ HOW ARE INVESTMENT TRENDS SHIFTING IN ESTONIA? Deeptech is on the rise. More investors are eyeing promising deeptech teams, although evaluating them remains a challenge. UniTartu Ventures' active role in supporting local deeptech is a sign of this trend. Latitude59's focus on deeptech this year further solidifies its importance, attracting global investors. 4️⃣ TOP 3 ESTONIAN STARTUPS FOR 2024 IN YOUR OPINION? Uuh… 😮‍💨 difficult one. I'd say Lightyear, Modash, & Ready Player Me. 5️⃣ ANY FUNDRAISING TIPS FOR ESTONIAN FOUNDERS? As someone from an early-stage fund, I strongly advise early founders to be ambitious and hungry. Think big and don't hesitate to pivot if necessary. It's crucial to think globally rather than locally and to move fast in the venture-backed business world. Moreover, the current times are challenging, and investors are more discerning. Ensure that you're well-prepared for fundraising and have done your homework. Fundraising can be a nightmare, but a structured and prepared approach will save you energy in the long run. 7️⃣ EXPERIENCE WITH INSPECTLE FOOD & FIRSTPICK CO-INVESTMENT? It's always great 🤝 collaborating with FIRSTPICK! With a good alignment in investment stages between Change Ventures and FIRSTPICK, we actively share deal flow and explore co-investment opportunities. Inspectle Food is one of those ventures, as you mentioned. FIRSTPICK excel in identifying promising founders ahead of the curve. Their unique, custom-made model of pre-acceleration and follow-on investing ensures that founders have a better chance to succeed. Plus, if you visit their office, you'll see which team member has Dr. Strange-like superpowers! A Big thanks 💜 to Tim Vaino for sharing your insights and chat with us.

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Here are the full terms of our recent investment Round size: $61.500 (430.000 DKK) Equity dilution: 2% Valuation: $3.000.000 (21.000.000 DKK) Post Money Cap Pro rata: no Type: SAFE Round Stage: Angel For context: Alvas was founded 11 months ago We’re two founders, one highly technical, the other technical and highly commercial. We build product and get customers ourselves Early revenue with 12 clients and $3250 MRR Our product is simple to understand, solves a pain point for a smaller niche And we’ve shown how we create value for multiple big Danish brands 🦄 #investment #StartUp #founder #unicorn _________________ I’m sharing the journey of building a Unicorn We’ve recently received funding, and I’m sharing everything about the investment Tomorrow I will share why we raised, and what the money will be spent on Feel free to follow along

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