Danish investor Norholm at the StarTech and SEE UP event
Experienced Danish business angel and investor Ib Dyhr Nørholm, whose portfolio includes companies like Viabill and Whiteaway, was one of the participants in the event organized by the SEE UP accelerator and NALED's StarTech program, where some of Serbia's most promising startups were showcased.
Before the formal part of the event, we had the opportunity to learn more about Ib's business journey.
Through a combination of investment, mentorship, and hands-on experience, Ib has become a key figure in the growing ecosystem of Danish startups, with his business journey starting back in 1985 when he launched a photography development business.
As digital photography began to dominate the market, he made the bold decision to sell his company before the big shift, which allowed him to invest the proceeds in other projects.
- I sold my company before digital cameras took over the market. I knew it was time for a change, and that decision paid off – Ib recalled while showing a front-page photo of a Danish newspaper where, at the age of 26, he made an unusual promise to sell his business by the age of 30.
After keeping his promise, Ib transitioned into the world of investing, which was relatively unknown in Denmark at the time. He invested in developing companies and became one of the first to introduce the venture capital model to Denmark.
- In the US, investing in startups was already common, but it was not well known in Denmark, and I saw an opportunity to bring that model here. I wanted to help entrepreneurs avoid the mistakes I made and learn from my experiences, – Ib explained.
When making investment decisions, Ib emphasizes that, in most cases, the key factor is the people, followed by the idea. However, finding that business meetings are most productive when people meet in a location away from the workplace, Ib came up with an idea for a new business.
- It wasn’t just about investment, it was about connecting people with a vision, – Ib noted, talking about a platform similar to Airbnb, designed for business spaces. – We created the platform, and in the end, Airbnb contacted us and bought the company.
Today, Ib's stepson Lukas follows in his footsteps. After three years in the military and University studies, Lukas worked closely with Ib, learning about investing and corporate governance.
- I started working with Ib after university. At first, I learned the basics by attending board meetings and gaining insights into the world of investment, – Lukas said.
However, Lukas decided to venture into the practical side of business by co-founding a startup two years ago, fully dedicating himself to the operational side of the business.
- I really wanted hands-on experience, so I co-founded a startup. Running a business is tough, but it was invaluable experience, – Lukas highlighted, while Ib proudly emphasized the importance of gaining experience on both sides.
- It's important for Lukas to understand what it’s like to be a founder. He learns firsthand how tough it is to be a founder, and that will make him a better investor in the future. It’s important that he sees both sides, – Ib pointed out.
Through their investments and dedication, they remain committed to encouraging innovation and helping the new generation of entrepreneurs succeed.
- For me, it has always been about helping others create something from nothing, and if I can be part of that, it’s what drives me, – Ib concluded, adding that this was why he attended the SEE UP and StarTech event, supported by Philip Morris, where selected Serbian startups were presented to potential investors.
