Startuplab, established in 2012, is Norway’s leading incubator for technology-based startups and has supported over 500 startups through mentorship, networking, and access to capital. Since 2013, they have launched five funds and invested in over 180 companies. Recently, they have experienced a significant increase in climate-related investment flow, with approximately half of the investments in the new fund directed toward climate, environment, and energy.
"The definition of a climate startup is constantly evolving, but for us, it is essentially about companies that contribute to a greener planet through lower emissions, increased circularity, and similar initiatives. We don’t measure this solely in greenhouse gas reductions but take a broader perspective on sustainability. We are investing more in this type of company now, both because we want to and because ambitious entrepreneurs want to make a positive difference," says Startuplab’s Chief Investment Officer, Gisle Østereng, to Shifter.
Nysnø, a state-owned investment company with NOK 5.4 billion in assets under management, invests in companies and funds that develop technology to reduce greenhouse gas emissions. Their goal is to accelerate the growth of Norwegian climate technology companies, and they are investing NOK 30 million in the fund.
"We see this as an opportunity to invest in a leading incubator and accelerator with a unique deal flow, a strong brand, and a well-defined, proven investment strategy that has historically delivered solid returns," says Paal Rogdeberg, Investment Manager at Nysnø.
In addition to the capital investment, Nysnø and Startuplab will collaborate to create arenas where companies and investors can meet. Nysnø will also co-host Startuplab’s major conference, Climate Summit 2030, which will take place in October during Oslo Innovation Week.
This investment from Nysnø is a recognition of Startuplab’s work and is expected to strengthen Norway’s position as a leader in establishing world-class climate technology companies.