Norinnova has received funding from Innovation Norway’s pre-seed scheme and is now looking for exciting start-ups to invest in. A total of 1-4 companies will be invested in. In this connection, all startup companies that are linked to an incubator or business garden in Northern Norway are invited to apply for investment.

The following criteria must be met for Norinnova AS to be able to invest pre-seed funds:

  • Norwegian-registered, innovative start-ups with significant growth potential
  • The company must be less than 5 years old from the date of registration in the Register of Legal Entities
  • Small or medium-sized enterprises that are not listed on a stock exchange under the EEA Agreement’s state aid rules
  • Private investors must participate with equity that is at least equal to the amount of the pre-seed capital
  • At least 50% of the private capital must come from independent investors, i.e. investors who are not founders or employees of the company.
  • The pre-seed investment and the co-investment from private investors will take place in the same issue – on equal terms.
  • Normal investment of pre-seed funds will be between NOK 500,000 and NOK 1,000,000

Norinnova accepts applications from interested companies that contain:

  1. Business idea: problem and solution
    • What kind of problem are you trying to solve, and for whom?
    • How do you solve this problem? What value does this solution bring to your customers?
  2. Timing of product/service
    • What is it that makes your product/service hit the market right now?
  3. Market potential
    • Who are your customers? What characterizes these customers? Where are your customers located?
    • How big is this market?
    • How large a share of this market is it realistic for you to take?
    • How will you break through in the market?
  4. Product
    • What is your product/service?
    • Technology used?
    • IPR/protection of intellectual property rights?
  5. Capital
    • How much funding is being applied for and what will the capital be used for?
    • Account for the private co-investment?
  6. Team
    • Describe the team

Application deadline: 13. September 2019

Applications should be sent to:

Norinnova will assess the applications and relevant companies for pre-seed investment will be contacted for a meeting at a later date. An investment decision will be made in October 2019.