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Naya Development Represents NTNU at the Fourth Edition of STAGE TWO 2024

By Vilde Falck Husum

What is Stage Two?

Stage Two is a prestigious competition that showcases the best startups spinning out from Europe’s leading universities. NTNU is a member of the Enhance Alliance – The European Universities of Technology Alliance. Enhance aims to connect research and innovation beyond national borders. Stage two is a key part of this mission, offering a platform for university-affiliated startups to gain exposure on the European stage.

The competition gathers more than 50 startups, nominated by 40 entrepreneurship centers. Since the start of Stage Two in 2021, NTNU has consistently been represented, with past representatives such as Useless and Aviant. The startups have two valuable minutes to pitch their business models in front of Europe’s venture capital firms and industry leaders. By participating, startups get access to investors, academic frameworks and networking, as well as cash prizes and awards. But first, they have to get through the local selection process – stage one.

Stage One – The Local Stage

Before the summer, Engage conducted the initial Stage One to select NTNU’s representative for stage Two in Berlin. The startups were evaluated based on the qualifications for Stage Two: innovativeness, scalability, defensibility and impact on the world of tomorrow. Applicants, including both students and university staff, went through the selection process consisting of interviews and pitching rounds.

The jury had a tough evaluation with strong candidates from NTNU in the qualifying round for Stage One this year. There are many investors among the audience in the final of Stage Two, so the main goal was to find someone who could excel both in the competition and as an investment object – Jury member Lars Reyes-Gjølme, SFU Engage

In the end, the jury landed on Naya Development, currently residing at Gründerbrakka. Ingrid Berg Sivertsen, Assistant professor at the NTNU School of Entrepreneurship, explains that Naya made an interesting case, because they were not only investment-ready, but would also benefit from an arena like Stage Two. Firstly, Stage Two attracts a lot of early-stage investors, as one of the criteria for startups to attend is to be an in an early-stage investment phase. Secondly, Naya’s focus on social impact and international scalability suits the competition as they operate at international level.

Naya Development – A Holistic Perspective on AI Development

Naya Development empowers women in North India’s slum areas through employment and streamlining data labelling for artificial intelligence. As a social business, Naya work outside the scope of just employment. Education, English lessons, economic empowerment, and childcare is all part of their mission to reduce poverty and oppression. The three women behind the startup, Eirin Fossberg, Victoria Jenserud and Nora Antonsen, met at NTNU’s School of Entrepreneurship through their shared passion of helping others. Together with their team of administrators, developers, and data labelers, they are committed to making an impact.

Our mission is centered around our people – not just our services
Naya Development

While Naya is primarily a social business, it also offers a dual value proposition through its strategic and ethical business model. Antonsen highlights their competitive edge: by taking on the labor-intensive task of developing AI, they enable companies to focus on other core areas, making their services profitable for other businesses. Many clients are willing to invest in Naya’s services, not just for social impact, but also because of the high quality of work and results. However, clients also expect transparency, requesting a social impact report. Further, Naya hopes to attract businesses with sustainability goals, aligning their social impact with environmental consciousness.

Despite meeting some early skepticism that their model might not be sustainable due to its primary focus on social issues, Naya now competes on Europe’s largest stage for university-based startups, even securing a prize.

The next stage

Naya Development’s participation highlights the value of platforms like Stage Two for early-stage startups looking to scale their impact. Winning the Start2Explore Skilling Award affirms their efforts to drive social change while maintaining a sustainable business model. Sivertsen shares that Engage’s role goes beyond just selecting the right candidate—they also travel with the startup to support them during the competition.

We get to travel with the startup representing NTNU and proudly showcase their work to investors and other universities – Ingrid Berg Sivertsen.

She states that Stage Two is a great arena for networking and gaining new perspectives on how to facilitate entrepreneurship from other universities. NTNU will continue to participate, with applications for the next Stage One opening again in 2025. She also finds it interesting to observe how trends shift, with the focus moving this year from health tech to deep tech. Stage Two remains an essential arena where innovative ideas meet early-stage investors. Over the coming months, it is expected that up to NOK 50-60 million will be invested in the attending startups, providing the capital needed to accelerate their growth. Naya Development has not only represented NTNU with pride but also set a strong example of how social entrepreneurship and tech innovation can drive meaningful global impact.

18 November 2024
Start Code 2024 – “We Aim to Become Norway’s Biggest Coding Competition”

By Vilde Falck Husum

Participants had 48 hours to tackle and present their solution to the given case. Over 50 students, divided into a total of twelve teams, made the office locations at Regus their temporary base for the weekend.

The project group behind Start Code wanted the case to be relevant, both in terms of generating value and promoting innovational spirit. Project Manager Ajanan Nimaledran explained that they chose a startup to present the case instead of a traditional corporate company. Since Start Code is all about innovation, they wanted this year’s business to reflect that as well.

After interviewing startups from Gründerbrakka, focusing on who could provide relevant hands-on challenges and mentorship, they landed on a candidate. The honor went to Enmo, a software company that develops smart energy management systems to optimize the use and storage of energy from solar panels and batteries. Through their technology, they utilize weather data, electricity prices, and consumption patterns to enhance decision-making processes.

By attending, Enmo hoped that Start Code would provide valuable insights and give them a chance to connect with skilled and motivated students for future recruitment. They expressed how they carefully crafted this year’s case to make it beneficial for both themselves and the students:

We have pillows and duvets ready. We don’t leave until the last students want to go.
Ajanan, Project Manager

Providing an Arena for Mutual Learning, Development and Networking

Aligned with Start NTNUs slogan, «we create Norway’s future», Start Code has proven to be a valuable event for both companies and students. Project group members Ajanan and Henrik shared how they work to uphold Start’s values through Start Code:

Last year, the team that placed second formed a consulting team and collaborated with the case company for over a year. Now they are recruiting and expanding their client base.
Henrik, Project Group Coordinator

The main goal of the event is to create an arena where participants can connect with like-minded peers and apply their skills in a real-world context. It’s not just about competition; the event emphasizes networking and innovative spirit, showcasing what it’s like to work with a startup. However, a trip to Switzerland worth 35000 NOK to compete in Start Hack globally adds motivation.

When selecting a winner, Enmo focused on the overall delivery. Evaluation was based on completion rate, understanding of the problem at hand, practical application, and level of innovation. Code quality, scalability, and minimal errors were also crucial criteria. Although it was a close race, the team Stash Poppers won by two points. They presented a solid frontend solution for information gathering. Enmo further reported that participating in Start Code provided them with fresh perspectives on their challenges and how to create potential solutions.

Scaling Up From Trondheim’s Biggest Hackathon to Norway’s Biggest Coding Competition

Participants experienced the event as well-organized and valuable. The event included a workshop on large language models by ReLU, and representatives from Enmo and Start were present to offer guidance to the students. Despite few hours of sleep and high consumption of energy drinks, students highly recommend participating. They concluded that Start Code is a great opportunity to test out your skills, learn and network.

Workshop with ReLu on Large Language Models

By prioritizing participant experience, the project group decided to keep the number of attendees manageable to ensure quality, despite the potential for larger capacity. They provided meals, beverages, movie breaks, and guidance, aiming to create a positive experience throughout the weekend. However, Start Code has ambitious plans as they aim to become Norway’s biggest coding competition. The project group is already in dialogue with international sponsors who have their eyes set on NTNU as a promising arena for collaboration.

Additionally, they are also committed to increasing female participation. Through partnerships with organizations like Boost Henne, they are working to increase the number of female attendees. Marketing efforts aim to reframe Start Code as more than just a «hackathon for guys», highlighting it as an arena for skill development and creative problem-solving:

We’ve rebranded it as a coding competition instead of a hackathon. We want to show that it is an arena for developing coding skills and working creatively with case solving, open for all, also when it comes to academic fields –
Ajanan, Project Manager

Looking ahead, the project group envisions expanding the event beyond the scope of Trondheim-based students. They are already in discussions with other universities that have expressed interest. Hoping to cover travel expenses for students from other universities, their goal is to scale Start Code to a national level. Start Code truly embodies its slogan of creating Norway’s future, bringing together skill-building, networking, competition and pitching. Most importantly, it has shown to be an initiative that fosters innovation that creates lasting results.

4 November 2024
Boost Henne: Breaking Stereotypes in Entrepreneurship- Empowering Women to Lead Startups

By Maja Aspelund Aure

This event aimed to challenge stereotypes about entrepreneurship and was led by Boost Henne, in collaboration with various female entrepreneurs. Their goal was to inspire women to believe in themselves and show that entrepreneurship is for everyone—regardless of what you study, your interests, or who you are. Boost Her is part of Spark* NTNU, run by students at NTNU. Their mission is to support female students in taking their first steps as entrepreneurs.

“Anyone can work in a startup, no matter who you are, what you study, or what you’re interested in! The startup world is for everyone.”
Hege Øverlie, Event coordinator at Boost Henne

Hege Øverlie said that the inspiration behind the event was to reach a broader audience, especially technology students. Many view entrepreneurship as intimidating due to persistent myths. The goal of the event was to break these myths and make entrepreneurship more accessible to everyone.

Inspiring Female Entrepreneurs: Breaking Barriers and Myths

The event kicked off with an inspiring speech from Sonia Ahmadi, activist and founder of “Women for Change.” She shared her journey into entrepreneurship, highlighting how it’s not just about who you are, but how hard you work. A friend had once told her that she only got into her studies because she was a woman. But Sonia countered: “I got into the entrepreneurship school because I am a hardworking person, not just because I am a woman.“

Today, Sonia works to promote women’s rights, both in Afghanistan and Norway, and emphasized the importance of following your passion: “Believe in yourself, whether you have an idea or not. You are good enough.”

Next, Nora Antonsen, CTO and co-founder of Naya Development, debunked the myth that you have to know everything to succeed in a tech-driven startup. With a background in entrepreneurship studies at NTNU and a degree in physics and mathematics, she emphasized how collaboration is key to success: “I rely on networks and mentors. Together, we can achieve much more than we think.” Isabella McNeill, known as the “startup girl” on Instagram, shared her experience of combining marketing strategy, investments, and entrepreneurship. She spoke candidly about the challenges of pitching: “I hate pitching, but I love entrepreneurship.”

Ida Elise Sandtorp, co-founder and CEO of Tendro and host of the podcast Peaker, emphasized how women often have to fight to prove they’re good enough in male-dominated environments: “We need to stop being ‘good girls’ and start taking more risks without worrying about the consequences”. Sandtorp encouraged participants to set their own agenda and not hesitate to claim their space in the startup scene. Regine Larsen, Nordic Head of Marketing Strategy at IF talked about the myth that women have to do everything alone:”No one needs to do everything alone. It’s about finding the right supporters and resources.” She also spoke about the importance of work-life balance and how entrepreneurs need to learn to take care of themselves.

Panel Discussions and Practical Advice

The evening ended with a panel discussion, where the audience had the opportunity to ask the speakers questions. Topics discussed included how to find energy in daily life, the importance of taking breaks, and how to balance work and personal life. “Breaking the Myths” by Boost turned out to be a successful evening filled with inspiration, networking, and practical advice from female entrepreneurs. The goal was to show that entrepreneurship is accessible to everyone, and that no myths or prejudices should stand in the way of following your dreams. Tapas and great conversations contributed to a relaxed atmosphere, and it was clear that participants left with a new perspective on what it means to be an entrepreneur.

22 October 2024
AI, Start-ups and Snacks: an initiative for realizing innovative master projects

By Vilde Falck Husum

Ingrid Sivertsen, Assistant Professor at NTNU’s School of Entrepreneurship, explained how the event was driven by the many great ideas and projects students develop in their master’s theses. However, these often remain untapped. By inviting NorwAI and introducing students to both organizations and startups, the goal was to connect the right people and showcase the potential for commercializing and realizing student projects, extending beyond the scope of their master’s work.

As promised, both snacks and startups were on the menu. William Marleau, CTO at WordSea and Nora Antonsen, CTO at Naya Development, introduced their startups and shared how they navigate the challenges and opportunities that come with it. WordSea, founded by William and his brother, is an app designed to simplify complex words through visualizations and definitions. Its purpose is to make it easier to understand words and concepts while also enhancing vocabulary. Naya Development focuses on data labeling by employing women living in poverty in India. Through their work, women are trained in data labeling, as well as English and personal economy. They provide socially sustainable labor to companies in need of AI services. Although both startups are related to the use of AI, the focus was equally on encouraging students to realize their ideas and master projects into an actual business.

An evening of networking

The program included a presentation from NorwAI, center for research-based innovation in Big Data and AI. NorwAI is a large academic initiative that coordinates research and innovation activities across universities, research institutes and several companies. The students invited this evening were recruited through their connections to NorwAI and included students from NTNU’s School of Entrepreneurship, the Department of Computer Science, and Electronic Systems Design.

Nora from Naya led a networking session to help students connect, and the event wrapped up with a Q&A, where students had the opportunity to ask questions to the startups and NorwAI. Networking seemed to be the main reason for most students’ attendance, and Sivertsen emphasized the importance of promoting student collaboration:

«This event is for students connected to NorwAI or for those who want to join a startup or explore the possibilities of realizing their projects. Mostly, we want to encourage collaboration among students from different fields of study» – Ingrid Sivertsen, Assistant Professor at NTNU’s School of Entrepreneurship

The hope is to inspire students to get to know each other, connect, and share ideas and interests. Through networking, students have the opportunity to showcase their work and explore the possibility of future collaboration.

AI is trending – “Soon it will be present in all businesses somehow”

When asked about their interest in AI, the students responded: “AI is trending”. However, some of the students from NTNU’s School of Entrepreneurship explained that they are not necessarily at the event to start their own AI business. Networking is equally important, as their startups might benefit from AI in the future. Knowing what possibilities exist and who to contact is just as crucial when starting up your own business. Furthermore, they noted that while solving problems with AI has become somewhat of a running joke, it reflects the reality they foresee: “AI will be present in most businesses”.

Apart from the regular consultations with ChatGPT, few of the students have worked much with AI before. However, many expressed an interest in utilizing AI by making the right connections with fellow students, organizations and startups.

«It is cool to hear from startups that have worked with AI and what challenges they have faced. We might encounter some of the same issues» – student at NTNU’s School of Entrepreneurship.

Additionally, students noted that this event serves as a great opportunity to map out the interests of other students, as potential collaborations could be relevant in the future. Even though not all students are directly involved in creating startups or projects where AI is the main focus, AI seems to be an omnipresent factor. According to Sivertsen, many startups use AI to automate or streamline processes rather than have it as a core product. She further stated that SeaWord and Naya illustrate different uses of AI, showcasing the many opportunities that lie in utilizing artificial intelligence, whether as a tool or as a product.

Creating a culture and arena for collaboration

By introducing students to the opportunities for commercializing master’s projects and other innovative ideas, the evening aimed to build networks and foster future collaborations between students, thesis projects, and organizations across NTNU. Sivertsen is eager to follow up on the outcome of the event, hoping to have sparked an interest and arrange a follow-up. The goal is to foster a culture of cross-collaboration, and events like this creates an arena for connecting and networking. Siversten is also open to arranging a similar event for PhD candidates and postdocs with long-term research projects. As with master projects, much of the research at NTNU remains uncommercialized. Initiatives like this event, are a step in the right direction toward enhancing collaboration and commercialization.

8 October 2024
Shark Tank: An evening as an investor

By Ida Øian

Each student was given 10 000 NOK “false money” to invest in seven different startups. They were divided into seven different groups that took turns listening to pitches from each of the startups. Lastly, they had to invest in the startups they thought were most interesting. The victory went to the startup with the most investments. The event was intended to show and let the students experience how investment works in real life. The main sponsors were SpareBank 1 SMN and PWC. As mentioned, there was a total of seven participating startups that had the opportunity to pitch their ideas to the students. These were Vake, EagleOds, NovaTech, SpillFree, Omnimod, WePost and Resolve.

The event was opened with a welcome speech by Knut Eilif Halgunset, Head of Transformation and Strategic Partners at SpareBank 1 SMN. He encouraged and engaged the students to take part in startups and pointed out that it is the students who are the future. The evening continued with the pitching rounds, followed by a Kahoot. The students had to mingle with the startups to get a good chance at winning the Kahoot, with the opportunity to win AirPods, as well as other cool prizes. The main age group was around 20-22 years old, and most were at the start of their studies. We took a status update along the way and several of the students could report that they had invested money quite evenly to the various startups.

Furthermore, the best startup of the evening was announced. VAKE secured first place, secondly Eagleodds.ai and Omnimod in third place. Finally, the students were transported by bus to Søstrene Karlsen where there was held a dinner and several prize ceremonies. This was the sixth year that Startup.ai was organized and contributes to more students having the opportunity to explore the innovation environment, gain an insight into startups and network. In addition, they get to explore the environment in a creative through a low-treshold event for students at NTNU.

6 October 2024
Empowering Female Entrepreneurs- Boost Henne Kicks Off a New Semester at NTNU

By Einar Fredrik Barth-Heyerdahl

Established in 2018, Boost Henne aims to address the gender imbalance in entrepreneurship by encouraging more female students to develop and launch their own ideas.

The kickoff event, held at Gruva at NTNU, was without a doubt a success with 105 participants, exceeding expectations and leading to a waiting list. The event was meant to draw attention to the innovation environment at NTNU and particularly to the role of women within it.

The program included inspiring speeches, networking opportunities, and pitches from several startups. Notably, DreamKnit, a startup that has developed a tool for designing custom knitwear, was among the featured companies. The event was not only a platform for female entrepreneurs but also welcomed students of all genders, with male students attending to show their support.

Boost Henne continues to offer a range of events throughout the semester, catering to both beginners and those with more experience in entrepreneurship. Their initiatives, supported by partnerships like the one with Spark* NTNU who provide guidance and build a supportive network for aspiring female entrepreneurs.

The kickoff was more than just an event, it was a statement of intent, demonstrating Boost Henne’s ongoing commitment to empowering women to take the leap into entrepreneurship

1 September 2024
The Innovation Days 2024 – a Celebration of Student Innovation

By Vilde Falck Husum

The Innovation Days are precisely that – a celebration showcasing the many actors that make up the innovation environment at NTNU.

Some of you may have heard of Tise or Douchebag, both were founded on this Hill.
Torgeir, Centre Director of Engage

The words of the Centre Director summarize the enormous drive generated year after year from the very epicenter of innovation at NTNU: its students. Hosted by FRAM, the Innovation Days have become an annual event at the start of the semester. The purpose is to showcase what the innovation environment at NTNU has to offer. Mainly, it targets new and curious students with stands, inspirational talks, pitches, and competitions, all in hopes of inspiring and engaging new members.

The Innovation Days are meant as a way to showcase NTNU’s innovation environment to the students. Additionally, it’s also an opportunity for the organizations to get to know each other better
Vetle, leader at FRAM

The Innovation Days are not just for students. Several partners, including Sparebank 1 SMN, DNB, and Equinor, were also present. These actors are key contributors to the Innovation Days, as well as to the operations of FRAM and the Mine. The event provides a platform for them to highlight their interests and investments in student innovation. When asked about the importance of the event, representatives from Sparebank 1 SMN shared that it allows them to stay connected with the university’s activities while also reminding students that they have supporters beyond campus. Equinor further expressed their hope to motivate and inspire students, viewing innovation as a societal mission. They have established initiatives such as Innovate for Better to support entrepreneurial mindsets and future innovations.

A shared intent among the representatives was therefore to showcase their organizations and what they have to offer. Additionally, many student organizations are eager to recruit new enthusiasts, making the Innovation Days an excellent venue for recruitment, as stated by some of the attendees:

Those who come here are curious and already have an interest in innovation and creativity. We feel that we gain a lot from being here where we can meet the right people.
Representative from Njord.

People here are so willing to learn and they aren’t afraid to spend time on what excites them.
Representative from Cogito.

Spark, Njord, Orbit, Cogito, Revolve, Designhjelpen, and Gründerbrakka were among the many organizations spread around the Mine. At their stands, students could experience everything from a race car simulator at Revolve to watching the process behind a rocket launch at Propulse. At Hackerspace, they could even try their own version of the game Flappy Bird, which won the Gamers’ Choice award at the Norwegian Game Awards 2024.

There is no lack of drive and engagement from students who volunteer countless hours alongside their studies, developing, learning, and experimenting with innovative ideas. Organizations like FRAM not only recruit but also create an environment that fosters innovation. The Innovation Days represent a wide range of interests, offering something for everyone. Several organizations, like Hackerspace, Make, and FRAM, provide a social arena for creative idea development open to all NTNU students, even those who don’t hold official positions. As stated at the Make stand: “It’s a breath of fresh air on Gløshaugen, which often gets very technical”.

Curiosity, creativity, and playfulness are celebrated, and characterize the atmosphere at the Mine during these two days. Having fun with what they do is something many of the representatives emphasize. They are not afraid to set ambitious goals with a limitless openness to what is possible. When we ask participants to describe the Innovation Days in three words, these keywords are featured: ‘inspiring,’ ‘social,’ ‘engaging,’ and ‘packed’ — words that represent NTNU’s innovation environment far beyond just these two days.

23 August 2024
Inspiring Young Entrepreneurs: Team Trøndelag

By Einar Fredrik Barth-Heyerdahl

SpareBank1 SMN, along with Ungt Entreprenørskap, acting as both judges and mentors, has provided valuable feedback to the UBs. The final gathering took place at NTNU Gruva, where young entrepreneurs presented their projects to key personnel in business and innovation. This was an exciting event for the students, who enjoyed networking with successful entrepreneurs from Grunderbrakka and the entrepreneurial program as well.

The winner of the competition was Aquaguard UB, followed by Skilock UB in second place. Other participants included Aquafence UB, Ligra UB, and Topotech UB. The competition celebrated the UB with the most potential for innovation and growth.

SpareBank1 SMN started Team Trøndelag in 2022 to inspire high school students to pursue their business ideas. The bank believes that excellence in any field, including entrepreneurship, requires a strong support system. Last year, one participant – Kelpnest UB – won the European Championship for Youth Enterprises, inspiring future participants.

This year marks the third Team Trøndelag event, and the journey continues. The initiative has been well-received by the talented youths and the supporting organizations like UE, Faktry, and NTNU.

SpareBank 1’s support goes beyond financial help. Hans Tronstad, the bank’s Community Dividend Manager, explains that supporting young entrepreneurs helps create future opportunities for the entire region. Through Team Trøndelag, young entrepreneurs receive inspiration and rigorous training from experts.

The Team Trøndelag program helps young entrepreneurs practice and improve their skills. The six best youth businesses in the innovation category from the Trøndelag regional championship were chosen to participate. These included 30 students aged 17-18 from Mære Agricultural School, Thora Storm High School, and Byåsen High School.

The three gatherings covered various themes and began in early April. The feedback from participants has been very positive. Students appreciated the opportunity to visit SpareBank1 SMN and hear success stories from established entrepreneurs.

Hans Tronstad emphasizes the importance of the initiative: “These young people are tomorrow’s heroes. While it is important to celebrate achievements in sports and culture, we must also support those who dare to become entrepreneurs. The hard work and training required to succeed as an entrepreneur deserve recognition and support.”

As Trøndelag looks to the future, programs like Team Trøndelag are essential for building a strong and dynamic business environment. By nurturing young talent and encouraging entrepreneurial ventures, the region is preparing for future economic growth and innovation. With continued support, the next generation of job creators and innovators is ready to make a significant impact.

4 July 2024
Student Investor Day 2024 – “An invitation to join the next big businesses on their journey”

By Vilde Falck Husum

Stian Bongard, co-host and project manager of the event, opened his welcome speech by highlighting the main purpose behind arranging Student Investor Day year after year:

The goal is to connect the right investors within early-stage investment to some of NTNU’s most qualified startups. Together, they have the possibility to develop and commercialize technological solutions.
– Stian Bongard

Welcome speech by project manager Stian Bongard

Tech Week focuses on technology that facilitates sustainable development within crucial areas such as ocean, health, energy, and digitalization. Furthermore, this event connects academia, industries, entrepreneurs, authorities, and capital – some of the most important contributors to innovation. As pointed out by co-host and project manager Henning Philip Patricksson, it was a natural choice to partner with Tech Week as it provides the right scene for both students and investors to meet up and connect. This implies a selection of investors that match the attending startups, as well as an opportunity for the students to showcase their businesses. Additionally, it ensures a high level of quality, encouraging investors with busy schedules to participate. A total of 18 businesses were represented by 40 investors, a number that proves Student Investor Day to be of great value for both startups and investors.

Scoped pitching their business idea

Nine startups had the opportunity to impress the investors as well as a jury with their business ideas. Each startup had a timeframe of three minutes to pitch their vision with the chance of winning “Best Business Idea” as well as the “Sustainability Award”. In addition to a money prize, the winner got the opportunity to enroll in 6AM’s accelerator program, named “best accelerator program in the Nordics” in 2024 by the Financial Times. Through participating, startups get access to resources such as funding, network, mentors, workshops and travels, to name a few. The jury selecting the Sustainability Award winner consisted of Kristin Jørstad from NTNU TTO, Jan Eilert Nilsen from Sparebank 1 SMN, and Øystein Eriksen from Nysnø Invest. Additionally, Best Business Idea was voted forward by the investors based on the pitch as well as a speed dating round with each of the startups.

Marcus Nickelsen, Head of Startups at 6AM and representing Ginst Capital, has participated at Student Investor Day since the beginning. He applauds the event for giving investors a chance to get to know each startup through the speed dating rounds. At this stage, he looks for certain cues that indicate a business is heading in a promising direction. If a startup has a good market segment, competence, and consistent product development, they have a good chance at future investments. Further, Nickelsen describes the importance of an event such as Student Investor Day through its win-win arrangement:

The most important point of this event is that you get to showcase the best startups from NTNU at that time, and the value proposition for all investors is that they want to participate as they get a yearly update on just that – the best NTNU startups. The consequence of not showing up is to miss out on an investment round for a company that might make it big in a few years.
– Marcus Nickelsen

Investors and startups during speed dating

Even though participating startups might be premature for investment at the first meeting, they have a chance at making a good match the next year. This highlights how Student Investor Day is as much about networking and nurturing long-term prospects and how the event brings value to all participating startups as well as investors. It’s not just the competition part of the event that creates opportunities, even though it is a great bonus.

Impressively, Arctic Protein won both the Sustainability Award and Best Business Idea. Congratulations are in order! It is even more impressive as they won the Sustainability Award last year as well. As Nickelsen states, it is important to note that these startups are not just short-term student projects, but real businesses with scalable business models and international intentions. The goal is therefore to create the next big tech giants worldwide. Student Investor Day functions as an invitation for investors to join this journey. We are excited to see where this year’s startups are heading and already looking forward to next year.

Arctic Protein wins both Best Business Idea and the Sustainability Award!

Lastly, congratulations to all participating businesses on their achievements! Here is the complete list of attending startups:

Arctic

Protein

Enmo

Mush

Naya

Scoped

Tendro

Tone

Useless

Wepost

15 June 2024
EiT Innovation Awards – A glimpse of NTNU students’ unique ability to innovate
The very first EiT Innovation Awards was held May 3. This event was a pitching competition featuring project ideas from EiT student teams, where a winner was to be selected and a total of 10,000 NOK awarded!

By Pernille S. Osmundsen

Experts in Team (EiT) is a master’s course taken by students from all faculties at NTNU. The students work in interdisciplinary teams on projects that aim to create value for society. The Experts in Teamwork Academic Section is currently engaged in a project focusing on enhancing innovation and value creation in student projects. Given SFU Engage’s focus area on student innovation, a collaboration ensued. The objective was to conduct an event where EiT teams could further the value they contributed, and what is more engaging than a competition?

Five teams in total were competing in the Innovation Awards.

The outcome was an event where students from various EiT villages could showcase the projects they had been working on this spring. The competition was open to all EiT teams to register, and eventually, five groups covering a wide range of problems and solutions took to the stage to present their ideas.

To demonstrate to the students the broad and accessible innovation environment at NTNU, the event started with a presentation on this topic by Ragnhild Nordeng Fauchald. She is a PhD candidate at SFU Engage and explained why it is important to be engaged and the opportunities available when working on innovation.

Ragnhild Nordeng Fauchald presenting the Innovation environment at NTNU.

Following this, the five EiT teams took to the stage, each having five minutes to pitch the problem they aimed to solve and their idea. The judging panel, representing key players in Trondheim’s innovation ecosystem, included members from 6AM Accelerator, Futurum Ventures, Gründerbrakka, and SFU Engage. After the pitches, the panel posed questions that the teams needed to answer before the next team could take the stage. The teams came from five different EiT villages, and these were their project titles:
- Icebreaker: “Lek-E-skap” takes play outdoors to the schoolyard – TBA4856 Innovative Sports Facilities
- How to counteract energy poverty in a smart energy future? – AAR4912 Climate-Neutral Trondheim 2030?
- WattMobile (smart energy administrator) – TIØ4855 Smart Energy Management
- Virtual Theory Test – An innovation project for Statens Vegvesen – PED3801 VR/AR and AI in Learning
- The Salmon Billionaire (knowledge enhancement in aquaculture) – TMR4853 Aquaculture – Technology on the Premises of Biology
The first team out, pitching their idea of a playground equipment box.

The first group to present spoke about their solution to playground equipment issues and said that although they were not experienced presenters, they enjoyed gaining experience pitching their idea. The final group presented a game to enhance expertise in aquaculture in an entertaining way and found it nerve-wracking to be on stage. However, they also expressed excitement at challenging themselves in something so different from their usual academic work. They further shared that it was exciting to learn about the innovation environment in general and to see the possible paths one could take if you have an idea and want to work on a product.

The judging panel questioning the EiT-teams.

The five teams gave the panel much to discuss, while the rest of the attendees enjoyed some food as the anticipation of who would win grew. 6AM Accelerator provided the winning prize, which was a cheque for 10,000 NOK, along with advisory services to further develop their idea. After careful consideration, the winners were chosen. Anna Johanne Holden Jacobsen, Olav Anglevik Seim, Christian Le, Caroline Grimsrud and Harald Bjerkli, with their idea of using VR for theoretical traffic training walked away with the victory. Proud of their product, they found it exciting to showcase it and experienced the competition as educational. They talked about the importance of being able to communicate and market their idea and were pleased to see that there is a market for such innovative solutions.

The winning team, from the left: Olav Anglevik Seim, Christian Le, Anna Johanne Holden Jacobsen and Harald Bjerkli, not on the picture: Caroline Grimsrud.

Overall, it was a successful event where we got to see the vast scope of ideas that can come to life through the EiT course, and we look forward to future EiT Innovation Awards.
8 May 2024