Stockholm, Sweden-based Norrsken Foundation announced this week it will launch an eight-week accelerator program this summer for startups, including those working in the food tech realm.
The Norrsken Impact Accelerator will, as its name suggests, look for companies enacting positive change across all areas of sustainability that encompass the United Nations’ Sustainable Development Goals. While Norskken says on the program’s website that it supports startups “across all verticals,” food tech is a particular focus this year. Norskken did not name exact areas of food tech, but given its alignment with the UN SDGs, it’s safe to assume the program is looking for companies that work in areas like health and wellness, food waste, food insecurity, alternative protein sources, and other areas with a sustainability angle.
Companies should ideally be at early (pre-seed) stage. While geographically they can be based anywhere in the world, applicants should plan to relocate to Stockholm for the duration of the program if accepted. Norrsken will choose 20 companies from the pool of applicants to participate in the eight-week program, which begins on July 5, 2021.
Chosen companies won’t follow a set curriculum. Rather, they will focus on the issues most pressing to their specific company’s journey, whether that’s product development, regulatory issues, marketing, or strategy. Mentorship is also a big part of Norrsken’s program. Companies participating will get access to a range of executive mentors from Oatly, Voi, Klarna, Wild Earth, and many others.
Participants will also receive a $100,0000 investment (with 5 percent equity) at the start of the program and a chance to pitch to potential investors via a demo day near the program’s end.
Applications are open until February 28.