Norrsken VC launches Norrsken Impact Accelerator to aid promising early-stage startups

Sweden-based Norrsken VC, a VC fund that invests in early-stage startups, solves the world’s biggest problems and builds massive businesses. Founded in 2016 by Niklas Adalberth, co-founder atKlarna, Norrsken VC is located in Stockholm, Sweden.

The VC fund strives to invest in promising early-stage startups and the best entrepreneurs to solve global problems with technology. While Norrsken VC operates independently, its values and mission are similar to those of the Norrsken Foundation.

Norrsken Impact Accelerator and the UN Development Programme

Norrsken Impact Accelerator is a startup accelerator program that enables the world’s most promising early-stage impact startups to scale. Norrsken Impact Accelerator launched on 13th January 2022, and applications for participation are now open. The application period will end in February 2022.

The Norrsken Foundation will invest USD 125 K in all startups as a seed- or pre-seed funding upfront. Applicants will be ranked based on impact potential and magnitude against the 17 UN Sustainable Development Goals before the program begins. A company can only be admitted to the program if its business model includes an impact component. A dedicated 8-week programme will be held in Stockholm where participants will receive support from experienced entrepreneurs and advisors, including UNDP experts.

Previously, the UNDP offered its assistance to companies in the 2021 cohort. Accordingly, the Norrsken 2022 cohort will be supported by UNDP as part of a deeper partnership.

What the Founder has to say

“We constantly ask ourselves – is this company solving a real problem? We’re only interested in business models where profit and impact are truly inseparable. It should be the opposite of “if you buy one pair of shoes, we’ll give away a free pair to Africa”, said Funda Sezgi, co-founder and managing partner at Norrsken Impact Accelerator.

“We’re looking for startups that have the potential to drive lasting, generational positive change to the world, whilst simultaneously building successful, rapidly scalable businesses”, said Funda Sezgi. 

What the UNDP has to say

“We need a new story about development, one that has innovation and entrepreneurship at its core, and in that UNDP has a lot in common with Norrsken Foundation. We are happy to continue our partnership with Norrsken to support impact startups from around the world to achieve the Sustainable Development Goals through ingenuity and entrepreneurship,” said Ulrika Modéer, Director of External Relations and Advocacy at UNDP.

2021 Cohort: USD 17 million raised

A total of 20 companies selected in the 2021 program, sourced from over 2,300 applications worldwide, raised USD 17 million in seed or pre-seed rounds. Several investors include Softbank, Breega, Trucks VC, First Venture, Brilliant Minds co-founder Ash Pournouri, Kry co-founder Fredrik Jung-Abbou, Pär Norberg of Nordic Capital, Capital T, Globivest, and Norrsken Foundation.

The selected startups are AfricAI Labs, Arnie, Asimilia, Cemvision, Cling, Complete Farmer, CribMD, Gradely, Agrowfi, Kwara, MyPick, Molecular Attraction, Nash, PesaChoice, Simbi, SenseGrass, Wala Digital Health, Wella Health, and Xilinat.

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