SINTEF is one of Europe’s largest research institutes, with multi-disciplinary expertise in technology, natural and social sciences. SINTEF is an independent foundation, which has created innovation through development and research assignments for business and the public sector at home and abroad. They have benefited proactively from investments by EIF during the last decade.
SINTEF has developed venture funds, the latest of which is called SINTEF Venture VI Fund. It will manage a capital of some €50 million, of which EIF is investing some €20 million. This substantial investment aims to promote the creation of 10-15 new companies, leveraging SINTEF’s tradition of pioneering technological innovations. The EIF also invested in SINTEF’s previous funds – EIF invested €10 million in 2014 and increased to €15 million in 2018.
Close to €30 million has also been invested by Norwegian institutions like KLP, Gjensidigestiftelsen, Sparebankstiftelsen DnB, Sparebank1 SMN, Reitan Kapital, Koteng Holding, Investinor and SINTEF. Most of these have also invested in former SINTEF funds.
“Our investors are result-oriented like all other investors. In addition, they want the capital to contribute to sustainable social development, and we provide that guarantee,” says Anders Lian, CEO of SINTEF TTO and SINTEF Venture. “Norway recently joined the European Union’s “InvestEU” programme, which allows us to invest a lot more…”
So far, some 20 start-ups have benefited from investments by SINTEF’s funds – here are four examples of the Fund’s latest investments:
- Cartesian AS – Offers heating and cooling solutions by storing and extracting thermal energy from phase change materials.
- MoreScope – Provides a data-driven platform for companies and investors to use to quantify climate impact, carbon footprint and avoided emissions.
- Sonair – Offers a 3D ultrasonic sensor for robots.
- Mia Health – Offers a solution that gives individuals and companies easy and precise insight into the actual health benefits of the activity in which they are involved.
Note: forumNordic will also be publishing similar articles about EIF’s support for start-ups in the other Nordic countries in the coming weeks.
Photo: Geir Mogen SINTEF
