GUEST ENTRY: We asked byFounders to take a look into the crystal ball and make af few predictions about the year we have just jumped into.
2018 is upon us and it’s time to take a look what awaits around the corner. Given that byFounders is a fund for founders by founders, it is only natural that we consulted with some of our founders and asked the simple question: What will be the talk of the town in 2018?
Here are some of our major predictions
- AI and Blockchain startups will get funding
Startups most likely to get funding in 2018 will be startups including Artificial Intelligence (AI) or Blockchain in their pitch. AI, as we finally have computers that are faster and more accurate than humans to complete complex tasks. The possibilities are endless and many industries stand to be fundamentally transformed. The same goes for Blockchain, which no longer is a vision, but core tech that will power the future of finance, insurance, real estate and many other industries that are heavy on transactions.
- Iværksætterpanelet will set the agenda
Iværksætterpanelet (the Danish Government’s “Entrepreneurial Panel”), a who’s who of the Danish tech community; instrumentally orchestrated by serial entrepreneur and byFounders backer Tommy Ahlers, have in record time established themselves as the collective spokesperson for an increasingly powerful tech community. Impressive that within a few months of being established, the group managed to get 5 specific agenda items approved and now being implemented as part of the Government’s fiscal 2018 plan. The good news is that Iværksætterpanelet will continue in 2018. We predict that they yet again will set the agenda for changes to business, education and investments in Denmark
- Tech visa will become reality
Internationally, Denmark will continue punching above its weight. We now have a Tech Ambassador, Casper Klynge, who is mandated to liaise between the tech world we live in and our Government. We predict (hope), we get a tech visa, making it easy to recruit additional qualified resources to come and work at one of the many fast rising Danish startups. And if we get our true wish, it also becomes significantly easier to obtain a US work permit as Danish tech entrepreneur.
- Bark will be the next unicorn
Next “Danish” unicorn in $ will be Bark, cofounded by serial entrepreneur and PreHype founding partner Henrik Werdelin. With their dog addictive BarkBox, Bark is expected to top $150 million in revenue by the end of this year and reach $250 million in revenue by the end of 2018. It has 500,000 subscribers and a 95 percent retention rate. That’s a lot of happy dogs. Currently valued at $250 million, Bark will very likely reach Unicorn status when they IPO, tentatively scheduled within the next 6 months.
- Ride sharing will return
It may not be Uber, but by end of 2018 ride sharing is back in Denmark. Governments and angry taxi drivers cannot stop progress. The benefits are obvious, when you are standing in the rain on a dark and cold evening and there is no taxi in sight. Fix the tax issue and the resistance will crack.
- Bitcoin will rise
OK — no 2018 predictions without commenting on cryptocurrency and the current craze we are seeing. Ethereum, Ripple, IoTa, Auger, Monero, Stellar, and Litecoin. So many interesting flavors to something the established financial regime calls a casino. Thanks to Coinbase, which have made investing in cryptos as simple as baking bread, the general population is now literally playing the lottery. We predict that Bitcoin will continue to rise, however not at the exponential rate its seen the last few months, but still ending 2018 at a $40,000 price point. Be very careful what you read from any source, the system is in many ways rigged, filled with pump and dump maneuvers — so never invest more than you are ready to lose.
Happy New year!
Tommy Andersen & Eric Lagier
Would you like #CPHFTW to keep you updated on the Danish startups community? Sign up for our newsletter here!