Alkemio at Slush 2024
Another Year, Another Slush!
Joining fellow changemakers, our CEO Neil Smyth participated in Slush 2024 in Helsinki. Held on the 20th and 21st of November, with pre-events on the 18th and 19th, Slush is one of the biggest startup events in Europe for entrepreneurs and investors alike. Once again, the event proved to be a worthwhile gathering for us, as we found encouraging signs of interest in investments aimed at societal impact. Let’s dive into some insights!
Growing awareness of alternatives such as Steward Ownership
No two ways about it: Slush is still heavily anchored in the shareholder value driven and venture capital investment ways of thinking. However, there is thankfully a growing awareness, even within Slush, that we need models that also value societal returns and business models that represent all stakeholders.
Impact Pre-Events
The week started with the House of Impact on Monday, November 18th, where impact driven investors and entrepreneurs came together to discuss how their investments and products can address societal challenges. Conversations focused on how capital can drive positive change, touching on the role of private investment in addressing how to put society first, while also being financially viable.
On Tuesday, Nordic Dialogues brought together 30 thought-leaders to explore what it takes to enable different economic models for systemic change. In a close-knit setting, participants discussed steward-ownership, cooperative models, and rethinking economic structures to create a fairer society. One of the best results to come out of this event was the formation of a vibrant new community! Credits go to InnrWorks for facilitating the gathering.
Slush Main Event
The main event took place on the 20th and 21st of November, and it is simply a huge gathering. There was a large and well-organized NL delegation, huge credit to Gemeente Den Haag, RVO and all others involved! And as shared by Neil:
“Slush is simply the best way to connect! Of course, with other countries, but actually the best value for me is always in new and stronger ties within the Netherlands. It brings an openness and concentration of key players that is simply not available anywhere else!”.
Our Experience: Seeking Alternative Paths
For companies like Alkemio, which operate under a steward ownership model, Slush presented both challenges and opportunities. Steward ownership emphasizes the company’s purpose and societal impact over maximizing profits, by separating decision-making (fully in the hands of the company) and economic returns (from which investors can benefit) - a concept that simply is hard to align with traditional VC approaches.
Thankfully there is a growing interest in Steward Ownership, particularly from public sector investors. For example, the Dutch Regional Development Organizations (LIOF, OostNL, NOM). Really super to see, and Slush was a great way to have deeper conversations with investors who prioritize long-term societal impact over short-term gains.
Reflections and Looking Ahead
For us, Slush 2024 showcased that the desire to integrate societal impact into business practices is there, and will continue to grow.
For innovators and entrepreneurs committed to steward ownership and similar models, the path forward involves continued advocacy and building networks that prioritizes purpose alongside profit. Events like Slush remind us of the importance of these efforts and the potential for future gatherings to bridge the gap between classic VC and impact-driven investment.
The future is bright, let’s build towards it!