Norrsken Foundation

Norrsken Foundation
Name	Norrsken Foundation
Type	Non-profit
Founded	2016
Founder	Niklas Adalberth
Location	Stockholm, Sweden
Area served	Global

Norrsken Foundation is a philanthropic organization and impact-focused accelerator founded to support entrepreneurs addressing social and environmental challenges. The foundation operates co-working spaces, incubator programs, and investment vehicles to scale startups with measurable outcomes, and collaborates with public and private institutions across Europe and beyond. Its activities intersect with technology hubs, venture capital networks, and international development platforms.

History

The foundation was established in 2016 by Niklas Adalberth after his tenure at Klarna, with early support from figures connected to Spotify, SEB, Ericsson, Vostok International, and Investor AB. Initial initiatives drew on precedents set by Y Combinator, Techstars, Startupbootcamp, and MassChallenge, while aligning with agendas pursued by World Economic Forum, United Nations, European Investment Bank, and OECD. Expansion included collaborations reminiscent of partnerships between Silicon Valley Bank and Plug and Play Tech Center, and funding rounds informed by practices at and Sequoia Capital. The foundation's growth mirrored city-scale innovation efforts such as Station F, MaRS Discovery District, Berlin Startup Stube, and One Young World gatherings.

Mission and Activities

The foundation's mission emphasizes backing entrepreneurs tackling challenges highlighted in Sustainable Development Goals promoted by United Nations Development Programme, UNICEF, World Health Organization, UNEP, and UNHCR. Activities combine accelerator models used by 500 Startups, cohort-based training similar to Founders Factory, and policy engagement akin to Ashoka and Skoll Foundation. Programming targets sectors exemplified by projects at Tesla, Siemens, IKEA, ABB, and Neste, while convening stakeholders from European Commission, Nordic Council, Stockholm School of Economics, and Chalmers University of Technology.

Norrsken House and Campuses

The flagship co-working campus in Stockholm was inspired by global spaces such as WeWork, Campus London, Google Campus, Impact Hub, and Bethnal Green Ventures, and later expanded into locations comparable to Reykjavík Innovation Center, Copenhagen FinTech Hub, Oslo Innovation Center, and Helsinki Think Company. Site selection drew on urban regeneration models seen in Kreuzberg, Shoreditch, Silicon Roundabout, and La Défense, with programming tied to local actors like Stockholm Business Region, City of Stockholm, Region Skåne, and Vinnova.

Programs and Investments

Programs include accelerator tracks influenced by curricula from IDEO, Stanford d.school, MIT Media Lab, and Harvard Innovation Labs, alongside seed investments resembling instruments used by Y Combinator Continuity, Index Ventures, Balderton Capital, and Northzone. The foundation has supported ventures working on climate solutions similar to Climeworks, Oatly, Northvolt, and Klarna's fintech peers, and social enterprises akin to Too Good To Go, Kiva, Acumen, and Grameen Bank. Its investment partnerships echo structures found at European Investment Fund and SXSW-linked accelerator funds.

Partnerships and Impact

Partnerships span actors such as Spotify, Tele2, Ikea Foundation, Electrolux, Volvo Group, H&M, Unilever, Hand in Hand International, and Teach For All, and engage policy and research institutions including Stockholm University, Karolinska Institutet, Royal Institute of Technology, European Climate Foundation, and The Rockefeller Foundation. Impact assessment draws on frameworks from Global Impact Investing Network, B Lab, Impact Reporting and Investment Standards, and CDP. The foundation's alumni and portfolio companies have participated in forums like Slush, Web Summit, South by Southwest, Canton Fair, and COP conferences.

Organization and Governance

Governance structures reflect practices seen at foundations such as Bill & Melinda Gates Foundation, Ford Foundation, Open Society Foundations, and Rockefeller Foundation, with boards and advisory councils including entrepreneurs, investors, and academics from Stockholm School of Economics, Chalmers University of Technology, Karolinska Institutet, Royal Institute of Technology, and international partners from Harvard University and Oxford University. Financial stewardship has engaged auditors and legal advisors with ties to PwC, EY, KPMG, Deloitte, and regional banks like Nordea and Handelsbanken, while strategic fundraising involved connections to European Investment Bank and philanthropic networks linked to Skoll Foundation and Wellcome Trust.

Category:Foundations based in Sweden Category:Organizations established in 2016