CASE STUDY | STARTUPS
From Advisors to Growth Partners: How Norway’s Largest Bank DNB Elevates Startup Advisory with the Scale Up! Masterclass
Background
As a leader in Norway’s financial sector, DNB Bank has consistently shown its commitment to supporting Norway’s entrepreneurial ecosystem, playing a critical role in the journey of over 20,000 startups since 2014.
Through initiatives such as the DNB Founders program, DNB NXT, the 100 Pitches competition, digital health accelerators, startup coaches, and growth mentors, DNB has cultivated one of the most robust startup support infrastructures among European banks.
With a dedicated team of entrepreneurial-focused staff in Oppstart & Vekst, DNB continues to support founders at every stage, from early ideation to scaling globally.
The winner of 2024’s DNB NXT 100 Pitches competition – RAB Diagnostics
Challenge
The DNB team recognized an evolving challenge with its startup and scale-up clients: many founders were coming to the bank for funding only after significant scale-up opportunities had already been missed, often limiting growth options.
While DNB’s advisors were experienced in financial analysis, they needed a deeper understanding of early-stage investment, equity, and valuation to provide more strategic guidance. With startups expecting advisors who understand the unique challenges of high-growth business stages, DNB sought a practical learning solution to elevate its advisors’ knowledge of the “Founder’s Journey.”
DNB’s team Oppstart & Vekst (2024)
“For me, it’s ten out of ten. It’s a valuable program that brings us closer together, and I found myself using what I learned almost immediately in conversations with my clients. It was amazing to shift my mindset, asking questions about future rounds and investor expectations right away.”
Solution
Earlier this year, 25 members of DNB’s ‘founder-focused’ team participated in the Scale Up! Masterclass. This two-day immersive simulation, “from idea to exit,” was designed to enhance the advisors’ ability to guide high-growth companies through the often-turbulent scale-up journey.
Over two intensive days, advisors worked through the entire founder lifecycle, from idea to IPO, experiencing the challenges founders face firsthand.
Divided into six teams, the 25 participants selected mock startup companies across industries like cleantech, robotics, and digital health. As the teams progressed through each stage of growth, they tackled the complexities of startup financing, investor relations, and market expansion.
Day one was focused on early-stage growth, and the teams explored aspects like company ideation, problem-solution fit, burn rate, and pitching to investors.
“The experience was very practical, which I found refreshing,” shared Christian Arntzen, Senior Advisor at DNB. “I’m used to sitting for hours and listening, but this was hands-on learning. I’ve never experienced getting so much out of such little time.”
By the end of day one, the teams had completed 23 funding rounds, raised their first capital, and even created a “bank-born” unicorn. “Thinking three capital rounds ahead was a big takeaway for me,” Arntzen said, emphasizing how critical long-term planning is for startups.
On day two, the focus shifted to scaling. The teams experienced the complexities of hypergrowth, managing a 10x valuation increase, and navigating cap table management, outcome scenarios, and exit strategies.
Maren Eide, another DNB advisor, reflected, “The workshop added a new dimension. Now, I consider valuation and equity with more nuance, which I can apply directly in my role.”
The Scale Up program closed out with IPO discussions and strategic board management, allowing DNB participants to guide their companies to public market listings with exchanges like Oslo and Nasdaq.
The hands-on experience transformed DNB advisors’ understanding, giving them a much richer context to discuss growth with founders.
“The program was intense—two very full days—but it was also incredibly fun and engaging. That kind of concentrated learning is powerful. The experience helped us be more professional in our approach. Now, when we talk to clients with professional investors involved, we understand their language and can ask better questions.
Impact
Deeper Understanding of the Founder’s Journey
Through DNB’s Scale Up! Masterclass, participants gained a comprehensive understanding of the entrepreneurial journey. The immersive experience equipped the DNB team with hands-on knowledge of cap table management, financing strategies, and growth metrics, enabling them to better support startups in a competitive financial ecosystem.
Enhanced Skills for Navigating Growth and Exit Strategies
With practical, hands-on skills gained from the Masterclass, DNB advisors are now better equipped to guide clients in strategic growth planning and funding decisions. As one advisor noted, the program has made them more attuned to critical questions around funding and investor expectations right from the start.
Deepened Commitment to the Ecosystem
The Scale Up! Masterclass reinforced DNB’s dedication to Norway’s entrepreneurial ecosystem. By better understanding founders’ challenges, DNB is now able to offer more meaningful, growth-oriented support, positioning itself as a key partner for startups aspiring to expand globally.
“It was fun! The simulation format was incredibly efficient, delivering a wealth of knowledge in just two days. The interactive elements made learning feel effortless, and the competitive aspect added an exciting dimension. Given that my role involves interacting with startups and scale-ups, I now feel better equipped to challenge them regarding their investor journey, which will be a priority in my upcoming meetings.”
get in touch
Talk to Us
Get in touch to find out more about our masterclasses and programs and how you can bring them to your organisation.