Angel Challenge has received 8 million NOK from Innovation Norway as matching capital. The winning startups of the upcoming Angel Challenge programs might apply to receive matching from this capital.
1.3 million NOK is invested by the Angel Challenge investors
+ winning startup is qualified and want to receive matching capital - (they can apply for 1 million NOK matching capital from Angel Challenge AS)
= 2.3 million NOK is invested on the Angel Challenge convertible note terms.
Note: The 1 million matching investment is managed by Angel Challenge AS, but any return of investment is owned by Innovation Norway.
Read more about the matching capital here: