Kjeller Innovation has launched a new Technology Transfer fund investing in sustainable technology and deep-tech innovations generated from leading research institutes and universities in the Greater Oslo Region. With the support of Horizon 2020, the EU Research and Innovation programme (2014-2020), the European Investment Fund has committed to invest EUR 20 million, and like-minded investors are now invited to join.

Kjeller Innovation is a strategic investor in Kjeller Horisont, and will collaborate with Kjeller Horisont in its focus on seeking investment opportunities to commercialise the research output from a cluster of ten applied research institutes and three universities in the Greater Oslo Regiont. The fund benefits from the InnovFin Equity Facility for Early Stage with the financial backing of Horizon 2020, the EU research and innovation programme.

His Royal Highness Crown Prince Haakon attended the official launch of Kjeller Horisont at Kunnskapsbyens Hus in Kjeller. At the launch, he met several startup companies and tested some of their tech products.

“The European Investment Fund (EIF) invests in top R&D clusters in Europe, and EIF’s investment in Kjeller Horisont is an acknowledgement of the competence and ability of this innovation hub to develop attractive investment opportunities,” says Anne Jorun, Acting CEO at Kjeller Innovation.

EIF Chief Investment Officer, Alesandro Tappi commented: “We are delighted with the launch of the Kjeller Horisont Fund which will support the commercialisation of research results, helping to create jobs and growth in Norway. By encouraging long-term and sustainable financing models this fund can attract a wider base of investors in order to contribute towards societal benefits through the wider use of technologies.”

Kjeller Horisont will raise additional capital, up to NOK 500 million. The fund aims to include long-term investors who see the potential in the commercialisation of research results and in the development of new companies and jobs.

With access to unique technology, competent capital and the right team, the fund will invest in sustainable companies that will provide good returns to investors and benefit the society.

Kjeller Horisont is part of an environment with extensive experience in building up growth companies from research. Close cooperation with Kjeller Innovation and its partners will give the fund access to deal flow and companies from research communities. Kjeller Innovation will contribute expertise while Kjeller Horisont will contribute with capital in a challenging phase.

The research community associated with Kjeller has developed many successful innovations. These include, for example: multi-phase technology, Olga, Opera Software, GSM technology, HUGIN, NEO Monitors, among others.

About EIF
The European Investment Fund (EIF) is part of the European Investment Bank group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.

About InnovFin Equity
This financing is supported by InnovFin Equity with the financial backing of the European Union under Horizon 2020 Financial Instruments established under Regulation (EU) No 1291/2013 of the European Parliament and the Council establishing Horizon 2020 – the Framework Programme for Research and Innovation (2014-2020) and backed by the European Fund for Strategic Investment (“EFSI”) set up under the Investment Plan for Europe. Through or alongside selected Venture Capital (VC), Business Angels (BA), Technology Transfer funds and funds-of-funds, the EU provides risk capital financing to enterprises, research organisations, universities in their proof-of-concept, pre-seed, seed, start-up and other early-stage phases allowing them to set up or reach their next stage of development.
InnovFin Equity investments, deployed by the European Investment Fund (EIF) can represent up to 50% of the total commitment to the financial intermediary whom shall present in its investment strategy sectors covered by Horizon 2020 including ICT, medical technologies, biotechnologies, green technologies, nanotechnologies, etc. In addition, the facility has been designed to feed into supporting Horizon 2020 objectives addressing societal challenges such as those related to resource efficiency, bio-economy, health and demographics, and climate change.

Press contacts:

Kjeller Innovasjon
CEO Anne Jorun Aas
+ 47 995 51 668
aj@kjellerinnovasjon.no

Kjeller Horisont
Partner, Lars Gogstad
+ 47 918 20 007
lars@kjellerhorisont.no
Partner, Terje Landsgård
+ 47 970 45 731
terje@kjellerhorisont.no

EIF
Media relations at European Investment Bank
David Yormesor
+ 352 24 85 81 346
d.yormesor@eif.org