Inven2 are distributing start-up funds in Life Science! Very good news for Biotechs and cancer research companies in their early stages of development.
Attention all Oslo Cancer Cluster and Incubator members. Inven2 received in late December 5 million NOK from Innovation Norway. They are now, subsequently, handing them out to Life science start-ups. Inven2 call them “presåkornkapital” meaning that the money is to serve as capital that stimulates the first stage of establishing a life science company. However, some criteria’s must be met to be eligible to apply. The application deadline is the 20th of February 2018.
Follow these criteria:
- Investment can constitute 3 million NOK per company
- Private investors must contribute with capital that at a minimum is equivalent with the Inven2-money “pre-såkornmidlene”.
- At least 50 percent of private capital must be from independent investors, investors that are not a founder or an employee of the company.
- The investment with “pre-såkorn” capital must be on equal terms with the private investments.
- Companies receiving the investment must at the time of investment be Norwegian and younger than five years counted from the registry date at The Brønnøysund Register Center
- Companies invested in must not be stock marked listed or large companies as defined in the EØS agreement state subsidy rules.
- Companies invested in must be innovative as defined by the EØS Agreement state subsidy rules.
- Investments can amount to 3 million NOK.
Be sure that your application contains the following:
- A short introduction of your company
- Business plan
- How the money will be used
- Explain how the matching money will be gathered
- A plan for the execution of the new equity
Application deadline: 20th of February.
Send the application to: firstname.lastname@example.org