Join forces to help Norwegian tech startups achieve international success

From left: Kåre Rødssæteren (partner at BDO), Christine Heuwing (Managing Partner i Xpreneurs – UnternehmerTUM), Einar Eilertsen (COO at Kongsberg Innovasjon), Luca Castellini (Energy R&D and BD Manager, Umbra Group).

Four Norwegian high-tech startup companies presented their technology, products and future prospects to potential customers and investors at the DeepTech Alliance (DTA) partner conference in Copenhagen on 30 September. At the same time, the world’s fifth largest accounting network, BDO, enters into a cooperation agreement with DeepTech Alliance, which in Norway is represented by Kongsberg Innovation.

The four Norwegian companies that will have the opportunity to present themselves in Copenhagen are Trisense, FactoryMind, Tunable and KIT-AR. In total, only 18 European companies have been selected to participate, so Norway is solidly represented. An overview of all 18 companies can be found here.

The conference in Copenhagen marks the end of a six-week intensive process where startups have worked to establish commercial partnerships with leading European industry giants such as Novo Nordisk, Alfa Laval, TechnipFMC, Umbra Group and Danieli Group.

International network

DeepTech Alliance consists of a total of nine accelerator partners including Kongsberg Innovation: Drive Technion Accelerator from Israel, ieLab from Switzerland, Future Box from Denmark, Hello Tomorrow and Agoranov from France, PoliHub from Italy, UnternehmerTUM from Germany and Things from Sweden. These are the innovation initiatives of the most prestigious technical universities in Europe, such as Technion in Israel and ETH in Switzerland.

Several of the alliance’s partners can point to very strong results in building new companies. Companies related to UnternehmerTUM raised € 800 million in venture financing in 2020 and in 2020 they had as many as four so-called unicorns (a startup worth more than a billion dollars). French Agoranov has contributed to six IPOs on Euronext in Paris and Nasdaq, and is behind unicorns such as Alan, Shift Technology, Doctolib and Criteo.

BDO cooperates 

After collaborating with the highly competent environment at Kongsberg Innovation for over a year, it was a natural next step for BDO to enter into a formal collaboration with DeepTech Alliance globally.

– We want to contribute to Norwegian technology companies succeeding internationally. BDO will support all selected DTA startups through our local presence, national cutting-edge expertise and good colleagues all over the world, says Kåre Rødssæteren, partner at BDO.

– I would like to welcome BDO into the DeepTech Alliance, and I am confident that the solid knowledge BDO brings into the community will help open even more international doors for new Norwegian technology companies, says Einar Eilertsen, COO at Kongsberg Innovation.

The agreement between BDO and DTA means that BDO will be a provider of services to the startup companies that are selected to participate in DTA’s programs.

 

About BDO

BDO is an international consulting and auditing firm and authorized accounting firm with a deep foothold in Norwegian society and business. In Norway, BDO has over 1,800 employees and more than 70 offices across the country. BDO’s customers range from large, worldwide companies to small and medium-sized companies. BDO has customers from most industries in both the private and public sectors. Internationally, BDO is present in 167 countries and has more than 91,000 employees. BDO is present locally, has cutting-edge expertise nationally and attracts skilled colleagues all over the world. This benefits BDO’s customers. www.bdo.no

 

About Kongsberg Innovasjon

Kongsberg Innovation is an industry-based advisor and investor that operates throughout Norway. The company assists Norwegian technology-based growth companies and offers a unique industrial collaboration where established industry contributes with technology expertise to ensure rapid company development. In recent years, Kongsberg Innovation has gained a strong position in the industrial environment; both nationally and internationally. Kongsberg Innovation is closely linked to the leading innovation environments in Europe, which contributes to the scaling of Norwegian technology and industry. Kongsberg Innovation is owned by the Kongsberg Group, TechnipFMC, Equinor, Kongsberg Automotive, Siemens Energy, Semcon, KIWA, BI Norwegian Business School, Vardar and SIVA. Kongsberg Innovation is one of nine European innovation players that are partners in the DeepTech Alliance. www.k-i.no

 

About DeepTech Alliance

DeepTech Alliance collaborates to accelerate deep tech startups into the European markets and consists of Europe’s leading startup environments. DeepTech Alliance connects Europe’s best tech startups with a comprehensive network of industry partners, experts and investors. https://www.deeptechalliance.org/

 

We are seeking startups within Industry 4.0

Do you want to expand your business into new European markets? Then, the Industry 4.0 Accelerator might be the right stepping stone!

In cooperation with our partners in the DeepTech Alliance, we are seeking Norwegian startups to an industry-specific accelerator program within Industry 4.0. The acceleration program is exclusively designed for Industry 4.0 startups, who are ready to deliver or test their solutions with corporate partners or customers in Europe.

Apply within: 17 May 2021

The Industry 4.0 Accelerator is a 6-week program that matches mature startups with partners, B2B customers and investors in new European markets. Startups interested, must apply within the 17th of May. Read more about the Industry 4.0 Accelerator here. 

The Industry 4.0 Accelerator offers

  • Matchmaking with potential corporate partners
  • Expert workshops on international business development and partnerships
  • 1 : 1 mentoring and business coaching
  • Local support in new markets
  • Investor exposure
  • A strong peer network with a selected Industry 4.0 startup founders

What do we mean by Industry 4.0?

Industry 4.0 refers to the fourth industrial revolution, which affects every manufacturing domain and comprises advanced manufacturing technologies that capture, optimize, and deploy data.

Participants in the Industry 4.0 Accelerator can operate within several relevant fields such as: Predictive Maintenance, Automation, Sensor Technology, Big Data and Analytics, Simulation, Digital Twins, Pattern Recognition, Machine Learning, Augmented Reality, Smart Systems, Value Chain System Integration, AI, (I)IoT, Additive Manufacturing and Cybersecurity.


The DeepTech Alliance, is an international initiative between the best deep tech incubators and accelerators in Europe, to bring the most promising deep tech startups faster to the market.

The alliance consist of eight partners: Kongsberg Innovation (Norway),  Drive Technion Accelerator (Israel), ieLab (Switzerland), Future Box (Denmark), Hello Tomorrow (France)UnternehmerTUM (Germany), PoliHub (Italy) and Things (Sweden).

Kongsberg Innovation joins DeepTech Alliance

DeepTech Alliance – partners across Europe

Kongsberg Innovation has been accepted as partner in a European coalition called the DeepTech Alliance. The alliance is an international initiative between the best deep tech incubators and accelerators in Europe to bring the most promising deep tech startups faster to the market.

Business incubators and accelerators affiliated with the DeepTech Alliance has a strong link to some of Europe’s top-tier academic institutions in Europe such as TU München, Politecnico de Milano, ETH Zürich and Technion. Correspondingly, BI Business School is Kongsberg Innovation’s academic partner in the DeepTech Alliance following the partnership agreement made in November 2020.

Thomas Klem Andersen, program manager at DeepTech Alliance

– Kongsberg Innovation has a strong national position within the Norwegian deep tech environment and has a close link to Norway’s leading high-tech industry. With Kongsberg Innovation on board, we have a new strong partner in the Nordic region and the DeepTech Alliance will benefit greatly from their know-how and network of corporates and startups, says Thomas Klem Andersen, program manager at DeepTech Alliance.

A leading startup ecosystem

With Kongsberg Innovation on board the DeepTech Alliance consist of eight partners from several European countries: Drive Technion Accelerator (Israel), ieLab (Switzerland), Future Box (Denmark), Hello Tomorrow (France), PoliHub (Italy), UnternehmerTUM (Germany) and Things (Sweden). These are accelerators connected to some of the most prestigious technical universities in the world, such as: Technion, ETH Zürich, DTU, Politecnico di Milano, TU München and KTH.

Einar Eilertsen, Chief Operating Officer at Kongsberg Innovation

– We are truly grateful and very excited to join the DeepTech Alliance. This is an important partnership that will strengthen our interaction and collaboration with Europe’s leading startup ecosystem, to support promising deep tech startups in the best possible way. We are looking forward to a close and productive collaboration, says Einar Eilertsen, Chief Operating Officer at Kongsberg Innovation.

The DeepTech Alliance organizes European acceleration programs that brings startups, experts, innovation partners, investors, and corporates together. The ambition is to secure contracts and investments for the participants.

Industry-specific accelerators

In an increasing international and competitive world, the DeepTech Alliance focuses on industry-specific accelerators that are tailored to different fields within deep technology of high complexity. The different accelerators match mature startups with B2B partners and investors. The aim is to accelerate deep tech startups with high growth potential and international ambitions to new European markets.

– We will recruit the best deep tech startups from all over Norway to join the different industry-specific accelerator programs. The goal is to help them to win contracts and investments in Europe, says Eilertsen.

Currently, the alliance is seeking deep tech startups to an Industry 4.0 accelerator. For more information visit deeptechalliance.org.

International collaboration

– PoliHUB has decided to join this ambitious alliance because we genuinely believes that international collaboration can represent a concrete way to facilitate the growth and impact of European startups by pooling resources, assets, and skills coming from each partner, says Stefano Mizio, head of startup acceleration programs at PoliHub.

Kongsberg Innovation is a member of Siva’s national incubator program. Innovation Norway has awarded Kongsberg Innovation an ecosystems grant to build and make an international innovation ecosystem available for promising startups across Norway. Kongsberg Innovation is also receiving annual grants from Viken County. 

 

For more information, contact:

Einar Eilertsen, Chief Operating Officer at Kongsberg Innovation

E-mail: einar.andre.eilertsen@k-i.no | Phone: +47 45 04 97 40

Kyoto Group listed on the Norwegian stock exchange

Kyoto Group is entering the Norwegian stock exchange. Photo: Kyoto Group AS

Kyoto Group is now listed on Euronext Growth (Oslo Stock Exchange, Norway). This green technology startup, which develops solutions for thermal energy storage, secured a pre-IPO on 150 MNOK prior to the listing. The value of the company is set to be 401 MNOK. Kongsberg Innovation have had an active ownership in the startup company since 2016.

Svein-Olav Torø, Managing Director at Kongsberg Innovation

– It is amazing that Kyoto Group is listed on the Norwegian stock exchange. It is an important milestone for the green tech-startup and for Kongsberg Innovation, which has been an active investor that has contributed with competence and advisory since 2016. We know that a lot of hard work is required to reach this milestone, and we are very happy on behalf of Kyoto, says Svein-Olav Torø, Managing Director at Kongsberg Innovation.

Kyoto Group develops solutions for capturing and managing energy from renewable energy sources. The green tech-startup is developing an innovative, cost efficient, and modular solution for thermal energy storage, which is called Kyoto Heatcube. The solution can be used to store energy when it is low-priced, and the mission is to decarbonize the industry. Kyoto Heatcube can be used to generate steam, power, and heat for various industrial processes. Compared to electric batteries, Kyoto’s solution will reduce capital expenditures by 90 %.

Kongsberg Innovation – partner and investor

Kongsberg Innovation helped establish Kyoto Group back in 2016 and has since then been an active owner. As an investor and innovation partner, Kongsberg Innovation, have contributed with business development, technology expertise from its extensive industrial network and early-phase funding.

Kyoto is one out of 14 startup-companies that Kongsberg Innovation has actively invested in. Through our industry-based incubator program and through different accelerators, we help companies such as Kyoto to develop, grow, and scale, says Torø.

Through Kongsberg Innovation’s extensive network, Kyoto Group have received assistance and expertise with technology development. The startup company has also had their own advisor from Kongsberg Innovation within business development and finance. In 2018, Kongsberg Innovation contributed with early-phase investment funding to the first capitalization of Kyoto together with Hydro Energi Invest.

Read more about Kongsberg Innovation’s industry-based incubator program here

– Kyoto have used the entire Norwegian support system to build the company; from Innovation Norway to the Research Council of Norway and Siva through us as a business incubator and innovation company. This has been very important on their journey in developing and strengthening the company, Torø adds.

Ingrid R. Lorange, CEO at Siva

Kongsberg Innovation is part of Siva’s national incubator program. Kongsberg Innovation receives annual financial support from Siva, which is used to develop startup companies and spin-offs from established companies.

– Our incubator program vision is to create tomorrow’s most competitive companies. The collaboration between Kongsberg Innovation and Kyoto Group is a good example of how incubation provides growth for startup companies. With strategic ownership as one of our tools, and as the largest owner of Kongsberg Innovation, we are pleased to see that it gives good results. Kongsberg Innovation is an innovation company that exploits its potential and is an important driver for innovation in its region, and in this case also internationally, says Ingrid R. Lorange, CEO at Siva.

Ready for European and global expansion

Kyoto Group has developed their company over the last years and is now ready for scaling both in Europe and globally. The thermal energy storage market is growing and is expected to reach 300 BN USD by 2030.

Christian Blom, CEO at Kyoto Group

– Today’s industry, represents a third of the total energy consumption in the world. 75% of the industrial energy consumption is used for thermal energy, and 90% is based on fossil fuels, says Christian Blom, CEO at Kyoto Group.

– Kyoto develops solutions to decarbonize the industry by changing companies’ needs for coal and fossil power plants. Kyoto has a scalable business model for further European and global expansion, Blom adds.

Kyoto Group has brought in investors such as Quantafuel’s CEO Kjetil Bøhn, Norsk Hydro, Kongsberg Innovation and Valinor. Eivind Reiten, former CEO of Hydro, is chairman of the board.

Yara International, Sub Sea Services, Aalborg CSP, RPOW, and Nvidia are partners.

First commercial installation

Kyoto Group will deliver their first commercial installation of the Kyoto Heatcube in Denmark before the end of 2021. The tech-startup is experiencing a growing pipeline and will deliver installations in Northern Europe and several new markets in 2022.

– Kyoto are looking forward to launching our products internationally and is now working full time to sign our first projects in Europe. We are experiencing increased interest from all corners of the world and our listing on Euronext Growth, makes it possible to work on these projects in the future, says Blom.

Learn more about Kyoto Group in this video:

KongsbergHOW: Kicks-off new round

Kongsberg Innovation are today kicking off a new round of KongsbergHOW.

KongsbergHOW is a program where ambitious tech-startups are given the opportunity to meet and learn from industry leaders. The program focuses on challenging strategic decisions and participating startups will get valuable insights and know-how from industry experts and former entrepreneurs.

Tore Halvorsen – former VP of TechnipFMC’s subsea division, Kjerstin Kleyne Braaten – 21 years’ experience within maritime and oil/gas, John A. Johansen – former director of technology and innovation at Precision Subsea and Jan Erik Korssjøen – former CEO of Kongsberg Gruppen are contributing as industry leaders in this round.

Participating startups – KongsbergHOW 2019

There has been great interest and many applicants for our program this year. After careful consideration of all candidates, we are welcoming these exciting companies:

BEBA – Develops stable lithium-sulfur battery with the use of graphene oxide.

Deep River – Research and development of efficient power plants to produce electricity from rivers, waterfalls and ocean currents.

Dimeq – Develops digital HSE tools that improve safety of maritime vessels and installations.

Funzionano – Develops ad delivers functional nanotechnology-based hybrid polymers.

N2 Applied – Develops a plasma reactor to produce nitrogen fertilizer on farms.

Subsea1 – Develops wiki and e-learning for subsea technology and products on their network portal.

VesselMan – Develops a project management tool for the offshore and maritime industry.

Wavefoil – Develops retractable bow foils for reduced movement and more comfortable seaside experiences.

About KongsbergHOW

KongsbergHOW helps tech-startups to gain valuable knowledge that provides increased company value and insight into proven business methodology. The program runs over 3 months and tech-startups interested, will have to apply for participation. Only 8 companies are selected for each program round. Participating companies pay a program fee. Read more here!