The Lundin Foundation is proud to have supported the future success of the Arctic Accelerator program. Our contributions have helped to ensure a stable future for this funding model anchored by the strength of the program and the outcomes — such as more investor contacts, capital raised, and quality applicants.
The Foundation launched the Arctic Accelerator program with Kupa, a Nordic business incubator, in 2016 in the north of Norway, focusing on social, environmental innovation and renewable use of arctic resources. The program was launched due to the limited entrepreneurship support in the north of Norway resulting in a high degree of migration of youth to the south.
Since 2016, the Foundation has funded five accelerator programs supporting 54 start-ups with training, mentoring and investor networking. Thanks to the development of this program and its innovative applicants, the future of Arctic Accelerator is now secured through a collaboration between Innovation Norway and Samfundslöftet. The team at Arctic Accelerator is very happy with the Lundin Foundations’ strategic support over the past two years.
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Last week a Demo Day was held for the latest round of funding.
The winners include:
1st prize: Lifeness, a digital, evidence-based care solution for obesity reduction. They won 150’000 NOK
2nd prize: Unifractal, a digital, mobile-based microlearning solution where you use the camera in your phone to recognize machines, tools etc that you need to learn how to use. They won 75’000 NOK
3rd prize: Akti Opplevelser a mobile app allowing locals to access local tourist attractions at a heavily reduced price in order to help the suffering tourism industry better fill their capacity and improve profitability at the same time as allowing the local population to visit attractions or do activities, they otherwise wouldn’t do due to high prices. They won 50’000 NOK.
“We can be proud and satisfied leaving them like this,” says Jenny Carenco, Regional Advisor for Scandanavia.