If insurance companies and banking groups symbolize the faceless capital, young nervous entrepreneurs are probably the complete opposite. Perhaps that’s why Internet Discovery Day, an event in Stockholm where wishful IT entrepreneurs pitched their business ideas for venture capitalists and potential investors, was held at the notorious insurance giant Skandia's former premises, which is now being demolished.

Some 500 people had registered for the event, which was significantly more than promoter Grädde Invest, a Stockholm-based VC firm specializing in Internet startups, had anticipated. That's further evidence of the exuberant spirit of enterprise that characterizes Stockholm and the Internet sector right now, said Johan Jörgensen, partner at Grädde Invest.

“The IT industry in Sweden is in a just-do-it state of mind. And this is a just-do-it event!”, he told The Swedish Wire as young entrepreneurs, capitalists and others poured into the knocked down office space that currently is under reconstruction.

To keep it simple, each company just got 1x3 meter brown wallpaper and a black marker to present their ideas and why they needed funding. Among the contributors we might have seen tomorrow’s Spotify, Skype or Facebook – while other ideas are doomed to fail.

“All is not rosy, but everything is exhilarating”, Jörgensen said with a big smile.

Among the businesses pitching for money we found mobile app maker Yet Another Stealth Startup, design and art market place Signerat, digital bible pusher Voxbiblia and Shoot it Live that helps newspapers with live online publishing. Services within social media, geolocations and mobile apps dominated the event.

Eric Ceder, part-owner of sports community MatchSnack, said he participated in the rally to raise money, find partners, contacts and new ways of distribution.

“We plan to go live soon” he told The Swedish Wire, admitting that he and his partners are just as much sport nerds as IT nerds. “I’ve never been in contact with venture capitalists before. I hope they are not too evil…”.