Accelerator
A company/organization that creates coaching-programs for entrepreneurs to help business grow and develop. Some accelerators also invest in the companies they coach.
Bootstrapping
A word that has its origin in the English expression "pull yourself up by your bootstraps". Freely translated, it means to get up by pulling on one's own braces. In the startup world, the term is used to describe startups that have been financed with the founders' own funds, or completely without start-up capital, and which have thus not raised external capital.
Brief (within Venture Cup)
Information text on the start page on Venture Cup's digital competition platform. There, almost all information about the current competition round can be found.
Business Model Canvas
Is often shorten as BMC and is a tool to get an overview of your business plan. This is done by visually setting up the different parts of your business model.
Co-creators
The part of the competition submission form where all team members are registered. By registering all team members, everyone can participate and edit the submitted competition entry.
Demojury
Independent panel that simulates a jury meeting with the intention of making the entrepreneur's presentation better. The demo jury may not participate in the main jury meeting but may participate in the screening.
Demojury meeting
In the STARTUP competition - a regional exercise with the demojury, ahead of the real jury meeting with the demojury.
Digital competition platform
Exactly what it sounds like. A digital platform where you enter to compete in Venture Cup competitions.
Disruptive
Has a Swedish equivalent in the word disruptive, but in Swedish it is more common to say revolutionary or weave out the text further and talk about major changes in, for example, an entire industry.
Early bird
The complete term is 'early bird catches the worm' and aims for an advantage to come early. For example, a lower price at the restaurant for guests arriving early in the evening.
Feedbackgiver
Everyone who participates in one of the Venture Cup competitions is guaranteed to receive feedback on their business idea. To provide this, Venture Cup has a number of people in our network who go under the title feedbackgiver. It is among other things these knowledgeable people who give of their precious time to write wise advice, tips and feedback to those who compete.
Finalist
Finalists are the 10 companies in the Venture Cup competition STARTUP that qualify for the Regional Final in each region.
Hidden information
On Venture Cup's digital competition platform, it is possible to submit certain information that cannot be read by everyone. Information written in these fields is referred to as Hidden information and can only be read by the selected persons in the Venture Cup network who have signed a confidentiality agreement.
Tutor
The Venture Cup network has many different competencies. Among others, our tutors, who you have the opportunity to meet at some of our events when coaching is offered.
Incubator
A support organization that can, for example, be part of a company or university, whose task is to help new entrepreneurs with a business idea with the goal to create a company out of it, and coaches the entrepreneur in how they can take the next step with their business.
Innovation check
The innovation check is a financial support to small and medium-sized companies. What the money may be used for varies from distributor to distributor, but most often the focus is on some form of competence support, or towards developing various aspects of the company. Usually the sum is between SEK 50-100,000.
The innovation system
An unofficial collective name for the companies and organizations that help new entrepreneurs get started, such as Vinnova, the Swedish Agency for Economic and Regional Growth, Science parks, incubators, etc.
Jury meeting IDEA
The jury makes their decisions based on submitted material on Venture Cup's digital competition platform. No nominated companies are present during the jury meeting.
Jury meeting STARTUP
During the jury meetings, the jury groups choose which finalists in each region who will win in the different prize categories. Before the jury makes a decision, all finalists meet the jury and pitch their business ideas to the jury. The results and the winners will only be revealed during the Regional Finals.
LEAN Startup
LEAN Startup is a method for developing your business idea and in a simple and fast way test your assumptions about the business idea to get verified facts. The method is often illustrated as a cycle with the components; Idea, Build, Product, Measurement Results, Data, Learning, and back to Idea. Through the method, you can, among other things, test the market in advance.
Liquidity budget
A liquidity budget is a budget whose purpose is to show whether your money (liquid funds) will be enough to cover the monthly expenses.
Even if you have made a profit budget and are expected to make a profit, there may be times during the year when the expenses are greater than what you are able to pay. For example, if you have production costs but do not get paid until the product is delivered several months later.
MVP
Stands for Minimum Viable Product and is an expression you usually use to describe the lowest level a product or service can have but still work, such as a first working prototype. As soon as there is a working product or service, it can be sent out to see how it is received by a market. Based on the users' experiences, comments and experiences, the product / service is refined and adjusted accordingly.
National Final
The English name for the Venture Cup's Sweden final.
NDA
NDA means 'Non-disclosure agreement' or confidentiality agreement. Confidentiality agreements can be used to protect information that in the wrong hands can harm the company or the creation of a company. The opposite of working with confidentiality agreements is called using open source..
Nominees
The nominees are the 15 IDEA competitors per region that are screened and whose ideas are to be viewed by the jury who will select 5 winners from the group.
Open source
A way to share, and benefit from the knowledge of others.To openly share the information you have in order to help others but also be able to get help from outsiders.
Pitch
A short presentation of your business idea with the aim of arousing curiosity and interest. A pitch is usually about 1 minute long, and means that you speak independently and sometimes without visual aids such as PowerPoint presentation or the like.
Pitch deck
A short presentation of your business idea with the aim of arousing curiosity and interest. A pitch is usually about 1 minute long, and means that you speak independently and sometimes without visual aids such as PowerPoint presentation or the like.
Pivoting
To change, alter, improve or adjust.
An example is Storytel, which has gone from digital audio books to having bought a physical book publisher and now also produces printed books.
Presentation
With aids such as PowerPoint, you present your business idea to an external group of people, such as the jury during the jury meeting in STARTUP. A presentation is longer than a pitch, in Venture Cup competition about 8 minutes.
Presentation technique
Occasions where participants get the opportunity for feedback, tips and information on how to better present their message during a presentation of their business idea to, for example, investors.
Professional network
What we call all the people who in some way get involved and generously share their time, knowledge and experience to Venture Cup.
Prototype
A first edition of a product or service. The purpose of a prototype is to at a late stage of product development develop something concrete to be able to evaluate, such as a physical product or a test page for a web service, to see if it works as intended.
Regional final
Våra regionala tävling i STARTUP (i syd, väst, öst och nord) som avslutas med en prisutdelning. Priskategorierna är; Best Traction, Impact Maker, Game Changer och Beyond Academic. De som vinner i dessa kategorier kvalificerar sig automatiskt vidare till Sverigefinalen.
Screening jury
People from our professional network who assess all competition entries. This is to ensure that all competition entries are judged equally and fairly. The screening is the first part in evaluating the entries in the competition process in order to select the winners.
Confidentiality agreements
Agreements that are signed to prevent people with insight into a company's business concept from talking about specific trade secrets to outside parties.
Startup
There are no clear limits to how long a company may have been running or how much it has traded to still be classified as a startup.
Venture Cup names all start-ups as startups. To participate in our STARTUP competition, the company must not yet have traded or raised external capital in excess of SEK 1 million.
Startup of the Year
The winning title awarded to the team that during the STARTUP competition won one of the regional prizes and thus qualified for the Swedish final, and took home the overall victory there through the Startup of the Year prize.
Sweden final
Our national competition that ends STARTUP by naming national winners of Best Traction, Impact Maker, Game Changer, Beyond Academic and Startup of the Year.
Top20
The Top20-list is the national list of the 20 best ideas that have competed in IDEA. Topp20 we usually call the event where the list is revealed.
Competition participants
Everyone who participates in Venture Cup competitions by submitting a contribution on Venture Cup's digital competition platform.
Unicorn
A company valued at over $ 1 billion. The name Unicorn refers to"something very unusual" , which applies to both unicorns and companies with such a high valuation.
USP
UUnique selling point/proposition is a term used when you describe what is unique about your particular product/service. What do your products or services have that your competitors do not have? It can be about your location, pricing, quality or really anything that stands out and can be considered attractive to a potential customer.
Example: LensWay has made it possible to buy glasses online, which means that you can get a pair of glasses that are of good quality but at a lower price.
Videopitch
A short video presentation of your business idea with the aim of arousing curiosity and interest. The video pitch should be about 1 minute long. A pitch is performed independently and without visual aids such as PowerPoint presentations or the like.
Video pitches that are filmed as part of the competition process in Venture Cup are posted on Youtube and/or on other channels for marketing purposes for both distribution to the company and for Venture Cup competitions.
Winners
Winners are the companies that have competed and won prizes in any of the Venture Cup competitions regionally or nationally.
