Last week it was made public that Simula Innovation is one of 16 TTO's (Technology Transfer Online), incubators and business angel networks to manage pre-seed capital on behalf of Innovation Norway. Simula Innovation will manage 3 million NOK.
Pre-seed capital goes through intermediaries who chooses which start-up businesses to invest in. It is a prerequisite that the pre-seed amount is matched with minimum 50% from private independent investors. The purpose is toinvest capital in innovative start-up businesses which are less than 5 years. The prerequisite is that the businesses themselves raise the same amount from other investors. The scheme is to trigger private capital.
This means Simula Innovation can invest in even more promising companies.