Launching new funding institutions to support growth

The two latest news are happening in the northern part of the region, introducing the Nyvinn and Drivkraft.

Nyvinn’s mission is to contribute to increased activity, the establishment of new profitable jobs, and to act as a catalyst for the green transition in our region.

Nyvinn will invest in projects and startups that help create a low-emission society within:

• Energy production, energy management, and storage
• Digitalization and AI for the energy industry of the future
• Circular and sustainable solutions for better resource utilization
• Electrification and energy efficiency in emission-intensive industries such as maritime, aquaculture, construction, industry, and agriculture

Another newcomer is the business foundation Drivkraft, aiming to accelerate entrepreneurship and business development in Sogn and Fjordane region.

The owners are Sparebankstiftinga Sogn og Fjordane and SpareBank 1 Sogn og Fjordane, with a total of NOK 100 million contributed to the fund.

- Startups in our region are of very high quality, and we should explore the potential for encouraging even more ventures. Even though the percentage of new businesses established in Sogn og Fjordane is the lowest in the country compared to other regions and counties. At the same time, our region has the highest survival rate for startups across all counties, said Trond Teigene, CEO of SpareBank 1 Sogn og Fjordane when opening the foundation.

The board will convene at the end of June to organize itself and the aim is to have the foundation operational by early 2026.

Early-stage investments in Sogn and Fjordane Fund

The Sogn and Fjordane Fund was founded in the former county Sogn and Fjordane in 2017, and the target group for the fund is early-stage startups/ideas, preferably companies in incubators. Initial investments range from NOK 50,000 to 300,000. The fund may invest multiple times but cannot exceed NOK 500,000 per company. Through its investments, the fund seeks to trigger additional equity from other sources.

The Sogn og Fjordane Fund was established in 2017 and is owned by Sparebanken Sogn og Fjordane, Vestland County Municipality, and Kunnskapsparken Vestland, and managed by Kunnskapsparken.  Profits from the investments are returned to the fund and used for new investments.

Looking for partners in Voss and Hardanger

Also, in region Voss and Hardanger, partners have raised NOK 100 million for a seed fund aimed at contributing to the development of businesses in Greater Bergen’s municipalities of Ulvik, Eidfjord, Kvam, Ullensvang, and Voss.

The Hardanger Voss fund is run by a foundation and will primarily invest in growth-oriented startups, allocate some capital for existing business transformation, and support ventures that create positive ripple effects in the region.

The initiative comes from Sparebankstiftinga Hardanger, which, together with partners including Ullensvang municipality, Kvam municipality, Eidfjord municipality, Ulvik municipality, Voss municipality, and Voss Sparebank, has collectively donated 100 million Norwegian kroner to the foundation. Their goal is to make the region attractive for both living and working, fostering new skilled jobs and promoting an entrepreneurial culture.

The Voss Hardanger region has several exciting business industry developments, like The Deep Purple project in the Tyssedal and Odda regions aims to create a secure and reliable system for storing compressed hydrogen underwater. Green hydrogen will be produced locally using water electrolysis and the abundant hydroelectric power available in Tyssedal.

You can read more and follow the fund here.

Vestland launches new early-phase investment fund

Also a newcomer is “Tidligfasekapital Vestland” is an initiative from Connect Vest, VIS Innvasjonsselskap and the cluster NCE Finance Innovation. Startups and entrepreneurs in Vestland can now get funding from a new early-phase investment fund, established to support innovative projects and drive economic growth. The fund, spearheaded by a coalition in the ecosystem, aims to provide critical financing to promising startups and emerging businesses.

The fund will invest in 25-30 companies over the next three years, and the investments will be between half a million and one million kroner per company. The mandate of the fund is to invest in companies that are in the pre-seed phase and in the fields of ocean-based industries, green technology and health-tec.

Demo Day Vestlandet is a yearly event where pre scanned startups get to pitch for investors, here from last year’s great event. IN 2025, this event is taking place at September 17. th. Photo: Petter Tran. 

Vibrant investor network

Connect Vest is an investor network ensuring a good deal flow of quality-assured startup companies. Members of Connect BAN meet for monthly investor lunches where they are presented with 1–2 startup cases that have been pre scanned by Connect Vest.

The investors in Connect BAN Bergen and Connect BAN Rogaland have broad industry knowledge and experience as serial entrepreneurs and business leaders. Here, you’ll find investment partners, but the networks also serve as learning arenas where investors share knowledge and experience with each other and with the entrepreneurs they invest in.

Raised awareness on capital strategies

The ecosystem has also created a project to raise awareness on what capital strategy is and why it matters to you in the early stages, called “Krafttak for kapitalstrategi”.

A capital strategy will ensure you not only to secure the necessary funds to launch and grow your business but also manage those funds effectively to achieve long-term success while minimizing risks. A clear strategy also ensures there is enough working capital to handle day-to-day operations, avoid liquidity crises, and cover unexpected expenses.

Having a strategy communicates professionalism and increases the likelihood of securing funding from venture capitalists, angel investors, or banks.

At events from the partnerns in «Krafttak for kapitalstrategi» this fall, entrepreneurs will share their experiences, and you get the chance to get tips and learn from people who have been there before, as well as participants from all parts of the ecosystem.

Supporting the green transition

The initiatives support the goals in the Vestland county’s masterplan to achieve the greener future, Vestlandsporteføljen 2.0. Today, the industries in Vestland fylkeskommune contribute significantly to Norwegian export. However, their activity also creates a large chunk of Norwegian emissions. 

The joint project Grøn region Vestland has developed a plan for transforming the region – secure future growth but reduce emissions. 19 strategically defined hubs across the region serve as focal points for green transformation, enabling the establishment of new value chains throughout the county each with the potential to generate 17,000 new jobs, boost exports, and reduce emissions.

The early-phase investment fund is set to bridge a critical gap in the region’s innovation ecosystem by offering access to capital for companies that often struggle to secure funding during their formative years. The initiative aligns with Vestland’s vision of fostering a dynamic and entrepreneurial environment that encourages creativity and sustainability.  

Learn more about the key industries in Vestland here.

The partners have room for companies and business ideas that can fit into the value chains. Could this be the location for your company, don’t hesitate to contact us! We can also guide you to several commercial areas with availability. You can see more details here.