Facebook might have abandoned their old motto of “Move fast and break things”, but the idea still stands in the startup world. You have to be lean. You have to be agile. You have to launch quickly.
And here at The Hub we see hundreds of new companies pop up on a yearly basis. This puts us in a great position to keep our finger on the pulse of the startup scene. Not every single one of them will succeed, but we’re getting pretty good at hedging our bets on those destined for greatness - especially with our focus on specific nordic markets, like Norway.
Firstly, there’s the historic factor: After Norway benefited from a growing economy based on the large oil deposits in the North Sea, the drop in oil prices sparked a new wave of entrepreneurs.
These Norwegian entrepreneurs, who have a rich tradition of trading with nations worldwide quickly pivoted from resources to the tech sector, helped by:
And last but not least, Norway is still one of the richest countries in the world, with the second highest GDP per capita. As you can see, the country is just one of those places where all the conditions are perfectly aligned to create the ideal startup environment.
So without further ado, here are the 15 Norwegian startups and scaleups we are looking forward to following in 2019 and strongly believe you should keep an eye on this year.
Founded in 2011 by Johan Brand, Jamie Brooker and Morten Versvik, Kahoot is quickly transforming education technology through its intuitive, user friendly, and multichannel quiz creation. Of course there’s more to it than simply creating multiple answer questionnaires. It’s designed around a whole education philosophy of learning through play, is now home to 51 million titles with strong support in schools all around the world.
Chooose is pushing an interesting concept: subscription-based CO2 reduction. You pay a monthly fee, and the platform uses it to fund UN-vetted C02 reduction projects in developing countries. The startup, launched in 2017, received more than $900K in funding. It already offers plans for individuals and businesses, and reflects multiple strong Nordic values, such as using tech for positive change, concern ecological-awareness, and transparency.
Spacemaker AI uses AI to explore and draw with the power, speed, and intelligence of one billion architects per hour. Their transformative AI engine combines expertise from a wide range of fields to improve and optimize building development with a focus on speed, efficiency, and sustainability. This technological advantage led them to partner with some of Northern Europe’s biggest developers, including Skanska, Obos and AF Gruppen.
You’d think the online collaboration market is pretty saturated, what with Slack, Skype, Zoom, and a myriad of other services. But that won’t stop Appear.in from trying something new: removing the obstacle of installing a program to call someone over the Internet.
As society continues to rely increasingly on digital tools, human connections tend to suffer. This was the first insight that led Karen Dolva to create No Isolation in 2015, an innovative solution that aims to solve loneliness and social isolation through the use of consumer tech, in the form of cute, interactive robots.
The startup, which has offices in Oslo, Amsterdam and London, had a tough year in 2018 due to production setbacks. But we’re still confident No Isolation will bounce back and continue to innovate in the sphere of what they call “warm technologies”.
Otovo CEO Andreas Thorsheim has big plans for his company: to be the number one solar retailer in Europe. And their backers agree, as the company raised 100M NOK in funding in 2018. So what is Otovo’s magic angle? Simplifying solar panel purchase and installation, and leveraging analytics to reduce costs and energy consumption for customers and companies.
The Internet of Things is enabled in an increasing number of household items. For Unloc it's door keys that are still a huge point of friction in your life. Their solution? Digitizing home keys so you can enable access remotely and to the right people, whether it’s a cleaner, delivery person, coworkers or family member.
The appetite for influencer-generated content shows no sign of slowing down, which is exactly why brands can benefit from a strong middle-man to connect with the right online personalities. More importantly, the startup, founded by Mats Lyngstead and Marie Mostad, leverages data-driven tools to accurately measure campaign results and deliver better results for organizations.
The chatbot industry is booming, and Boost.ai is certainly a strong contender for becoming a leader in the field. Started only in 2016, the startup now employs 100 people, and is on track to attracting enough funding to be the first Norwegian unicorn.
The story goes that Lars Selsås, CEO & Co-Founder, had such confidence in his virtual assistant's code that he left the university course where he started writing it so he could commercialise it. A smart bet if we’ve ever seen one.
Every wanted to throw all your clothes away and start afresh with a new designer wardrobe? This is more or less what Fjong offers, allowing you to rent, share, and borrow some of the most stylish vintage garments available in Oslo, and promoting sustainable fashion in the process.
There are currently two leaders in the digital paper market of consumer electronics. One is the gigantic Sony corporation, and the other is a relatively small Oslo based company named reMarkable, which sold over 50,000 of their paper tablets.
The interesting thing about reMarkable is that they have a whole philosophy behind the devices, claiming to fight against distraction-causing hardware and the loss of attention that seems to come hand in hand with digital technologies.
More than $10B worth of plastic ends up in nature every year, and the founder of Empower, Wilhelm Myrer has come up with an innovative way to reduce waste and actually monetize that waste. Using blockchain technology, they distribute tokens that can be exchanged at recycling stations, and later be redeemed for cash.
Scientific research can be slow, tedious, and complex, especially when working between multiple disciplines. This is why Anita Schjøll Brede founded Iris.AI, offering a series of tools designed to facilitate interdisciplinary research thanks to Artificial Intelligence.
While headquartered in Berlin, Iris. AI has a distinctively Norwegian flair to its mission, as demonstrated by them joining the Nordic AI Alliance, which pledges to facilitate AI acceleration in the region.
Founded in 2015, BlueEye Robotics creates drones designed to help everyone view, explore and learn about the ocean. Underwater exploration, they believe, is the last frontier, and also an important ethical imperative to understand preservation and ocean sustainability.
Food waste comes from many issues in the production, agriculture and distribution fields, but TotalCtrl believes they’ve found a good place to stop it: expiration dates. By giving retailers (total) control over their food inventory and analytics, they believe the solution can reduce waste by as much as 85%.
We’ve only focused on 15 companies, but hopefully they represent a good slice of the quality, breadth and optimism found in Norwegian startups. With a strong focus on sustainability, innovation and transparency, the values of these startups certainly seem to align with those of young, determined people everywhere around the globe.
It certainly is an exciting time, whether you are an entrepreneur, investor or just someone looking to help build the future of Norway, and, quite possibly, the entire world.