Norrsken Foundation, based in Stockholm has opened an entrepreneurship hub in Rwanda to support tech startups. They will also provide seed investment of between $25,000 to $100,000 for early-stage startups. Fund size will extend to larger series-stage investments from $100,000 to $1 million in the future.
Norrsken aims is to empower entrepreneurs in East Africa. Startups will receive training, mentorship, funding, and advice on business set up alongside other accelerators. The hub will be sited at the former École Belge campus in downtown Kigali, Rwanda. The Rwandan extension will be headed by Fredika Wessman.
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Norrsken chose to site the hub in Rwanda for their infrastructural development and improved internet facilities. According to the World Bank’s Ease of Doing Business list, Rwanda ranked 29th in 2019, making it the first African country on the list.
Norrsken was founded in 2016 by Niklas Adalberth and Engellau Nilsson to support early-stage startups. They have invested a total of €70 million in 17 startups; including Wefarm, Kognity and Ignitia from Africa. Norrsken works with over 70 partners across the globe; including McKinsey, PWC, and Nordic Capital. They plan to open more hubs in 25 markets outside Sweden over the next decade.