Angel Challenge winners can apply for additional 1 million NOK matching capital.

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. 

Calculation: 
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: 
- http://www.angelchallenge.co/blog/2016/6/9/angel-challenge-receives-8-million-nok-in-investment-capital-to-match-investments
- http://www.innovasjonnorge.no/no/Nyheter/deler-ut-100-millioner-grunderkroner/#.V1kyr-Z97MU

Knut WienComment