From first time founders to successful SaaS solution

In 2016, first time founders Malene Madsen (CEO) and Mikkel Bindesbøl (Head of Sales) developed the people intelligence platform WOBA, a software system designed to measure and improve employee well-being, engagement and retention. But the path of creating and expanding a business was far from aligned and easy. 

Malene had spent years on scientific field work, researching work related stress in larger Danish companies, when she realized that the current focus of reducing stress was individually focused solutions that only seemed to treat the symptoms and not the cause of stress. She decided that this needs to change. But, as the two founders came from a humanities background and had no former experience in establishing a business, it was mostly learning by doing with WOBA.

There are a lot of things you don’t see, when it is the first time you create a company. You lack the providence. But it’s not all bad, because then you are forced to just do it.” CEO, Malene Madsen, explains. The founding couple were forced to alter their business plan numerous times. “You can’t be too proud to change your road. If you see something that doesn’t work, you have to change it by the snap of your fingers. You have to be agile to succeed,” she elaborates. 

Raising capital for the company was both important and challenging for WOBA. Malene tells; “It was tough as hell sometimes. When I was fundraising, I had nothing to show, I had no track record. I had to learn how to pitch, how to make a budget and how to comfort investors all the way around. This is particularly important when establishing a software company, which needs a lot of funds for acceleration and development. It was quite a shock, but we made it!”

Something that helped WOBA on its way in the early stages, was participating in the University Startup World Cup in 2016. Here, the founders got to meet a lot of peers and professionals who gave them valuable input. “USWC was like an accelerated business education. It was really good for us. We got a compressed business education, learned how to build a pitch and deliver it, as well as evaluations from really competent people,” Malene says. 

Today, the company has 15 employees, more than 300 national and international customers and only last year landed a venture capital of 12 million DKK with Preseed Ventures and Vækstfonden. This injection into the company will help WOBA build the muscles to upscale for an international market.

Read more about WOBA here.

National Polytechnic
University of Armenia


Andranik Voskanyan, Arthur Hakobyan

We offer autonomously operating robots, which can move in arbitrary shaped water, oil and gas pipelines con- tinuously monitoring and detecting erosion and leakage. Countries lose million tones of water, gas and oil from damaged tubes and sometimes it become dangerous for human life and nature when gas or oil pipeline gets damaged. So our product can find damaged or clogged places on their early stage in practically all kinds of pipe- lines over and underground. With the use of our product the damaged sections of a pipeline can be found faster, more easily, precisely and without digging the ground.

This means that maintenance and replacement of pipe- lines will be safer and much more cheaper. Our product is a robot which can move through the pipelines and investigate it with pressure, ultrasonic, flow sensors and camera which can shoot up to 4k video and save it in his memory card or sent it to connected devic- es. This robots autonomously move in arbitrary shaped water, oil and gas pipelines with diameters ranging from 10 cm up to 300 cm.

Reykjavik University


Ragnheiður Lilja Guðmundsdóttir, Safa Jemai

Our company is a disease management solution. Our software gathers together all the most important information about your health like meds, nutrition, exercise, symptoms, vitals and sleep and analyses it to give you a clear picture of how your health is at any given moment.

Our main focus to start with is on patients with thyroid problems and other autoimmune diseases, but we plan to add on and expand so we can service people with all kinds of chronic illnesses. Having to live with a chronic illness is time consuming, costly and frankly, exhausting. We want to make peoples lives easier with one platform

where you gather all the data you need to keep track of to manage your condition. So the next time you see your doctor you’ll have a much set of data to show him about your progress the past few months, and eventually with integration into the healthcare system the doctor will be able to access all the information himself before your appointment and therefore make a much better diagnosis and decision regarding your treatment.

With integration you will also be able to access your own test results, schedule appointments, prescriptions and better communication with your doctor.​