Novo Nordisk Foundation renews support for NOME for a further five years

Published January 16, 2024 by

Medicon Village

The Nordic Mentor Network for Entrepreneurship (NOME) is an elite program for promising life science projects and startups, funded by Novo Nordisk Foundation and with Medicon Village as one of 10 partner organizations.

Since its inception in 2016, NOME has been supporting life science start-ups across the Nordics, Baltics, and Northern Germany, thereby increasing their likelihood of success and strengthening the ecosystem. As a result of the programme’s success, the Novo Nordisk Foundation has decided to increase the funding and extend the programme through 2028, allowing NOME to expand into new geographies and industries.

Through its 10 international partner organisations, NOME identifies and matches selected companies with mentors from its network of close to 150 highly successful and experienced professionals from the life science industry. This approach ensures the global sharing of knowledge and expertise, to the benefit of the companies.

Mikkel Skovborg, Senior Vice President of Innovation at the Novo Nordisk Foundation, highlights NOME’s role as a crucial player in the Nordic life science ecosystem, providing support to more than 80 startups since the programme’s inception:

– NOME plays a critical role in addressing the need for high-level industry expertise crucial for building successful startups. In the upcoming funding period, NOME plans to diversify into additional life science-related industries. [CM1] For the first time, NOME will be open for startups, partners, and mentors within sustainability and quantum technologies.

NOME companies have collectively raised €436M in capital since 2017 and NOME managing partner, Peter Birk, is very proud of the work that the network has done for its portfolio companies:

– We see clear signs that the incredible work the mentors put into helping the startups, in significant ways improve their chances of raising more capital and develop their technologies and companies. The new funding is a testament to everything that we, the mentors and startups do in NOME. This is a very exciting period for NOME, and we are very thankful for the new funding that will allow us to expand the scope and the toolbox of NOME.

NOME's partner organisations currently span seven countries, with plans to broaden the scope and influence of the programme in the upcoming five-year funding period. In the most recent grant period, NOME focused on expanding its reach from the Nordics to Northern Europe. In the upcoming grant period, NOME plans to further expand, with a specific focus on entering new industry sectors that require structured international mentoring for startups. This encompasses startups with solutions addressing "planetary health" and those rooted in quantum technologies.