Arctic Accelerator is aimed at young entrepreneurs in Northern Norway, with innovative business ideas focused on sustainability.

Experience

In 2016, the Lundin Foundation and the Norwegian business incubator KUPA introduced the Arctic Accelerator. The first edition of the Arctic Accelerator received applications from 23 startups from all over Northern Norway, with 6 teams admitted to the program.

How much do they invest?

Start-ups admitted to the program get up to 100 hours of tailored mentoring including 2 boot camps and demo day, free of charge. Travel and accommodation costs are covered. Candidates will pitch their business idea to a board of investors including the Lundin Foundation in June each year.

How do they work?

Based on their application, entrepreneurs from Northern Norway who are 30 years or younger are invited to present their business ideas to a panel in October. Prior to the panel presentation, the participants receive advice and guidance in early stage business development. 

The founders of the 5-10 best business ideas will be offered an intensive program tailored to the individual business needs, with assistance of mentors with expertise in the relevant industries.

This makes a difference to them

The Arctic Accelerator program aims to increase the recruitment of young entrepreneurs, and primary target group will be start-ups managed by entrepreneurs 30 years old or younger. The program is interested in ideas that:

• Ensure sustainable use of natural resources
• Protects the environment
• Secures effective use of natural resources
• Have a unique idea that meet an uncovered market need
• Have knowledge and dedication

Key People

Marius Stamnes – Advisor and Project Manager Arctic Accelerator

Marius holds an M.Sc. degree in Petroleum Engineering from NTNU. He worked in the petroleum industry in both technical and commercial roles before joining the innovation and consultancy company KUPA as an advisor in 2016. There he works with both startups and mature businesses, as well as being the project manager of the Arctic Accelerator program.

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Oddmund Åsen – Senior Advisor

Oddmund holds a M.Sc. degree in Business Administration in Strategic Management from NHH – Norwegian School of Economics. He has held several management roles in the banking and finance sector such as Deputy CEO in SpareBank 1 Nord-Norge, before joining KUPA in 2016. Oddmund has broad experience working with business development and strategic processes.

 Linkedin

Startups they funded

Arctic Algae, PEK, Theia Systems, TMS, Green Ocean, SplitPost