nHack and Katapult Ocean has entered into a partnership to bring to market and scale ocean tech startups in China. The focus is on startups that use technology to solve the challenges in the ocean or develop new opportunities with a positive impact on the oceans.
The cooperation involves that Katapult Ocean and nHack will seek globally leading ocean technology startups to first go to the Katapult Ocean Accelerator in Oslo, Norway to rapidly develop its products, services and business model. After completing the Katapult Ocean Accelerator, selected companies will be offered an investment to come to Shanghai and China to further deploy its product in one of the world’s largest markets.
nHack is a Nordic venture capital fund in China, focused on helping Nordic businesses expand in China and Asia, working closely with Danske Bank and WeWork. nHack is a flexible partner for Nordic businesses, both able to be local joint venture partner in Asia or an investor in Nordic holding companies aiming to expand globally. nHack has offices in Beijing, Shanghai and Shenzhen, expanding to Singapore and Hangzhou in 2018. In Shanghai nHack has set up an Ocean Tech Centre with focus on sectors within Maritime, Oil & Gas, Aquaculture, Ocean farming, Ocean Renewables, Water cleaning and Ocean Technology. nHack has a very experienced local staff on the ground in China, including Kjetil Lund, ex Kongsberg Maritime China CEO, and Joseph Zhang, ex DNV GL China.
Katapult Ocean is investing in and building profitable businesses with a positive impact on the oceans. At the core of this is the Katapult Ocean Accelerator program – a three month program for the best 12 startups globally using technology to solve the challenges in the ocean and find new opportunities with a positive impact. The program includes a curriculum, mentorship, introduction to pilot customers and investment. To support this Katapult Ocean is building a global ecosystem and creating awareness through the Katapult Ocean Prize and events. Katapult Ocean is led by Maren Hjorth Bauer, former Head of Strategy in Wallenius Wilhelmsen and ex McKinsey.
With the Nordic countries as frontrunner on ocean and maritime related technologies this cooperation opens up for a lot of opportunities in the Nordic Start up ecosystem and beyond. As per signing of this agreement at the Norwegian General Consul office in Shanghai, the parties agree to cooperate across the Nordics to Asia on various sectors and initiatives.