Stockholm-headquartered Norsken Foundation announced on Tuesday that it has launched Norrsken Impact100, an annual list of the world’s most promising impact companies that shines a light on founders who are changing the world for the better.
According to Norsken Foundation, organisations tackling the biggest environmental and social problems in the world receive less than 1 per cent of all funding.
The Foundation is therefore bringing together the Obama Foundation, Acumen, SoftBank Investment Advisors, Global Fund, Catapult, BMW Foundation, and many others to recognise the businesses that are changing lives around the world and addressing issues like poverty, famine, environmental problems, and mental health.
Niklas Adalberth, Founder of Norrsken Foundation, says, “We believe that entrepreneurs building rapidly scalable businesses are our best bet to solving the world’s hardest and biggest problems. These awards are the first of their kind to celebrate their impact in this way.”
What to expect from Norrsken Impact100
The companies in the Impact100 list will not be ranked. However, there will be winners in two different categories, including Rising stars – companies valued below $1B, and Shining stars – companies valued above $1B.
Niklas Adalberth says, “Startups are usually celebrated because of their growth and financial valuation, regardless of the impact they have on people and the planet. We believe that entrepreneurs driving positive change are true heroes and deserve to be recognised. Similarly, unicorns are usually companies with a valuation of over $1B, but we want to recognise potential impact unicorns – those that will positively impact 1 billion people.”
“At the moment these companies are not being given the recognition they deserve, and that’s where the Impact100 comes in. These awards cut through that noise and put the best impact entrepreneurs on a pedestal. We want the Impact100 to become the ‘Nobel Prize for Impact’ — recognising those who are leading the world in impact entrepreneurship and helping build a better planet,” adds Adalberth.
Adalberth believes one of the many difficulties faced by business owners is that despite tackling the world’s biggest problems they receive the least share of VC funding, which, in actuality, is less than 1 per cent. By providing this “Norrsken Impact100” recognition, businesses will be able to attract more investment, and potentially impact even more people.
Adalberth also expects that this list will inspire other founders to consider the social and environmental impact of their work or even help them begin developing impactful solutions of their own.
Judging criteria
The Impact100 will rate businesses based on their capacity to make demonstrable, beneficial progress toward the 17 Sustainable Development Goals of the United Nations.
The Impact100 will consist of companies that have positive global impact as an intrinsic and non-negotiable part of their business model; high-risk, high-potential businesses that aim to grow quickly by leveraging scalable technology; businesses that can combine commercial viability with positive global impact; and, companies that have delivered a minimum viable product (MVP) to market, and/or have raised Seed or Series A funding.
Who will select the finalists?
The Impact100 list is scheduled to be announced in August, 2022, which will include 10 finalists – five from each category, the Rising Stars and Shining Stars.
The winners will be announced at Impact Week, an annual conference for entrepreneurs, investors, and decision-makers at Norrsken House in Stockholm. It will be hosted by His Royal Highness Prince Daniel of Sweden, from September 7 to September 14, 2022. The winners will be invited to join the judging panel for next year’s Impact100.
The Impact100 will be judged by an independent panel of experts, including Niklas Adalberth, founder, Norrsken; Jacqueline Novogratz, founder, Acumen; Ulrika Modéer, UN Assistant Secretary General, Director of the Bureau of External Relations and Advocacy, UNDP; Srishti Gupta, ex-director global development McKinsey, board member Norrsken; Matt Miller, partner Sequoia; Nonkululeko Nyembezi, chairwoman Standard Bank; Carl Manneh, co-founder Mojang; and Amit Bouri, CEO and co-founder, Global Impact Investing Network.
The list of partner organisations includes Obama Foundation, Acumen, Katapult, Unreasonable, World Fund, Footprint Coalition, AENU, BMW Foundation, EQT Foundation, Softbank Investment Advisers, Trellis Road, Food Planet Prize, SEIF, Nordic Capital, Mustard Seed, Leaps by Bayer, Summa Equity, Norrsken VC, and Norrsken Impact Accelerator.
Niklas Adelberth says, “The purpose of the awards is to shine a spotlight on the visionary founders that are changing the world for the better. Because if they win, we all win.”
Brief about Norrsken
Founded in 2016, the Norrsken Foundation is a nonprofit organisation that addresses some of the most important problems faced by the planet. It claims to have produced a global impact ecosystem where founders can locate the information, resources, and network they require to turn saving the world into a profitable venture. The foundation operates Norrsken House in Sweden, the biggest startup cluster in Europe, and Norrsken House in Kigali, the biggest startup hub in East Africa.
Norrsken incubated Norrsken VC, a $130M VC fund that invests in startups solving the world’s biggest problems. It has also launched Norrsken 22, a $200M growth fund that invests in Africa’s new tech unicorns. Additionally, Norrsken also manages the Norrsken Impact Accelerator, a Seed fund that finds and scales the world’s promising early-stage impact startups.
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