HomeDenmark-Startups#CPHFTW raises $150K from 83 startups

#CPHFTW raises $150K from 83 startups

Yesterday will definitely be remembered as a significant day for the Danish startup community; the grass roots initiative #CPHFTW has now taken a serious step forwards in its efforts to unite the startup ecosystem in Copenhagen and the rest of Denmark.

#CPHFTW, which initially began as a hashtag for Copenhagen startups to bring visibility to their community, has managed to raise $150K from 83 founding startups in Denmark. It’s the first time this much was raised from the startup community itself, without involvement from the government, business angels, institutional investors or big corporations.

All this actually means that #CPHFTW is now able to build its organisation up with full time resources and start creative initiatives that will truly help startups in their efforts to share knowledge with each other, raise funds from international investors and attract talent to the startup world. #CPHFTW will facilitate various networks for CTOs, CMOs, CIOs, COOs etc., arrange dinners and get-togethers with international venture capital firms in Copenhagen and help attract more talent to their startups, by leveraging on their network and their resources.

With the money raised, #CPHFTW can also now build its legal structure up; the idea that was presented at the previous Townhall (Townhall #3) by Martin Von Haller, and which was agreed upon by the attendees, was to build #CPHFTW as a fund. A fund would need a board to be put in place, and details of how this will be organised, including nominations, the role of the board, among other aspects, will be explained in the next Townhall. A fund structure will also open the door for #CPHFTW to raise more money for larger scale projects that the startups see fit. Furthermore, a fund structure makes sure equity cannot be held in #CPHFTW; it will truly be owned by the community, where the board will make sure that the #CPHFTW team reports to the community.

Lastly, it’s important to note that none of this could have been made possible without the amazing help from the passionate souls in the local startup community, including Jon Schäffer, Michael Bak, Klaus Nyengaard, Thomas Madsen-Mygdal, Rasmus Bjerngaard and Martin Von Haller from the amazing founding startup coffee group, who helped out in every way possible to make sure that #CPHFTW gets up and running.

Next steps for this amazing announcement are to get all of the 83 founding startups on board, gather all the funds, complete all of the administrative tasks and get going with creating initiatives that will create value for startups.

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Marko Srsan
Marko Srsan
founder @TimePrepCFA, blogger interested in startups and VC along with social media and project management, a drummer and a passionate FC Bayern Munchen fan :)

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