Nordic Mentor Network for Entrepreneurship (NOME) is the first elite pan-Nordic mentor network connecting the best life science, digital health, and industrial biotech entrepreneurs with hand-picked internationally renowned mentors.
The Nordics are among the most innovative countries in the world but are less effective in translating the innovation into new companies with scaling potential, compared to other leading life science regions. The NOME mentoring model fills a gap in the ecosystem and will continue to facilitate long-term mentorship. Each company gets to be mentored by three to four mentors with complementary backgrounds, with the goal of growing the company towards internationally renowned commercial successes.
NOME links the best life sciences, industrial biotechnology, medtech, synthetic biology, and e-health startups in the Nordics with some of the most successful and experienced investors, serial entrepreneurs, and high-profile life science executives to assist the next generation of innovators to flourish and succeed. The program is run all year round.
Since its start in 2016, NOME has enrolled 50+ promising companies from Denmark, Sweden, Finland, and Norway, which together raised more than 180 million euros and onboarded 100+ highly-experienced investors, serial entrepreneurs, and high-profile life science executives in the Nordics and the U.S. as mentors. The mentors provide value in the form of introductions to investors and commercial partners, assist with license agreements and transactions, and provide pivotal input to business strategies and product development.
All the sessions (during the pandemics) are taken online. We still hope for a face-to-face Annual Gala, which takes place at the end of the fall and is usually organized in one of the Nordic countries on rotation.
Who is NOME for and what are the selection criteria?
A company should fulfill the following key criteria in order to be eligible to apply for the NOME program:
A company in medtech, life sciences, synthetic biology, industrial biotech, as well as evidence-based and regulated digital health.
- Be based on the high quality of science/technology and a high degree of innovation and novelty
- Address a compelling medical need/solve a compelling problem
- Have a large commercial potential and be a game-changer that can become big (more than just a me-too)
- Differentiate markedly compared against competing solutions
As a minimum, you should have:
- A good proof of concept for the technology/product in relevant animal models (therapeutics/diagnostics)
- A demonstrated prototype (medical devices/industrial biotech)
- An evidence-based product intended for clinical use (not B2C) at a beta-level (digital health)
- Have a strong and coachable team behind. At least 1 team member must be full-time employed
- Have strong IP or alternative protection strategy
- Represent a case that we feel confident about putting in front of mentors
- Have well defined and concrete challenges that mentors can deal with
- Represent a case that can be moved from A to B through NOME
- Have funding for at least 9 months forward
- Be incorporated as a company in a Nordic country (subject to change)
What you can expect from the program:
NOME is an elite Nordic Mentoring program for promising life science startups engaging world-class experienced advisors. NOME connects Nordic startup companies with highly skilled relevant professionals to help them reach their goals and technology milestones.
- Each team has an individual plan with target goals to be achieved by a set time
- The best possible support is provided to startups focusing on scaling to other Nordic countries, the US (and in 2022 – Germany, UK, Baltic countries)
- Two to four mentors will be meeting the team on a regular basis and providing advisory on upcoming issues
- The length of mentoring: the average term is 18-24 months, based on the needs of the company
- Accepted teams will get all the mentoring free
- NOME US camp. As a part of the program, NOME also provides a unique opportunity for startups to participate in the NOME US camp managed by California Life Science Institute. It is a chance for the companies to gain access to specific US advice via a team of US mentors, subject matter expertise (FDA and regulatory experts), and potential US partners and investors.
Read more about the program and success cases on the NOME website: https://nome.nu/
When and How to apply?
There are no deadlines for the program, and we select the startups throughout the year. NOME is invite-only, however, you can get spotted, if you get in touch with your local country representative (see contact information below).
Shall your startup be pre-selected, here is what will happen next:
Step 1
The first interview will be done by the local partners, Vertical and Turku Science Park. The focus of the first evaluation is on the commercial potential.
Step 2
The Nordic committee picks several startups from the pool of candidates to pitch at the quarterly pitching event. By pitching at the event startup gets exposed to tens of senior executives, investors, and experts in the above-mentioned domains.
Step 3
Mentors select a few startups to start working within a month after the pitching event.
Network
NOME is funded by the Novo Nordisk Foundation. The initiative is represented in Scandinavia and the US through partnerships with Karolinska Institutet Innovations AB and Medicon Village in Sweden, Accelerace in Denmark, Oslo Cancer Cluster Incubator, and Aleap in Norway, Turku Science Park, and Vertical in Finland.
Interested and want to know more?
Read more on the NOME website https://nome.nu/. Finland-based startups, projects, and mentors, please run the inquiries through contacting us:
