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Established 2009 by the Polish Federation of Engineering Associations (NOT). Two-stage program for engineering and hardware startups: incubation with mentoring and business modeling, then seed funding up to EUR 200K. Support: expert consulting, seed capital, office space. Scope: National.
Venture builder and fund founded in 2015 (building on earlier programs) that co-creates tech startups from Chalmers University research using its Encubation model. Support: incubation, seed investment, business coaches, and access to labs. Scope: Regional (West Sweden).
Northvolt was a Swedish battery developer and manufacturer founded in 2016 by former Tesla executives Peter Carlsson and Paolo Cerruti. It aimed to build Europe’s first homegrown lithium-ion gigafactories to supply electric vehicle batteries at scale. Northvolt quickly became Europe’s cleantech darling – it secured over $15 billion in funding from investors like Volkswagen (which took a 20% stake), Goldman Sachs, BMW, and the European Investment Bank. By 2021, Northvolt built its flagship factory in Skellefteå, Sweden (Northvolt Ett) and announced over $55 billion in orders from automakers including Volkswagen, BMW, Volvo, and Polestar. At its peak, Northvolt reached a valuation of $12 billion and was seen as Europe’s best hope against the Asian battery giants CATL, LG Chem, and Panasonic. The company’s progress was significant: it produced its first battery cell in late 2021 and began deliveries in 2022. However, behind the scenes, Northvolt struggled with the immense capital expenditures and operational complexities of scaling battery production. By late 2024, it had accumulated over $5.8 billion in debt and was burning ~$100 million per month, while its factory ran at only 5% capacity due to equipment installation delays and safety issues. In November 2024, Northvolt filed for Chapter 11 bankruptcy protection in the U.S., and on March 12, 2025, it filed for bankruptcy in Sweden, marking the largest industrial bankruptcy in modern Swedish history. The collapse was dramatic – once valued at $12B, Northvolt’s assets were later acquired by US startup Lyten for pennies on the dollar in 2026. Investigations revealed mismanagement: thousands of unopened equipment crates worth €430M were found on-site and a critical €2B BMW contract was lost after Northvolt fell two years behind schedule. Despite its failure, Northvolt’s ambition wasn’t in vain; it spurred the European Commission to launch the European Battery Alliance and rival startups (like France’s Verkor) to push forward. Northvolt’s story is a cautionary tale of euphoria and risk in cleantech – a venture that raised unprecedented funding and $50B in orders to put Europe on the battery map, only to crumble under execution challenges and debt.
The Siemens Technology Accelerator (STA) is a unique corporate accelerator program run by Siemens AG since 2001, aimed at spinning out non-core technologies from Siemens’ R&D into independent startups. Based in Munich, STA essentially identifies promising internal innovations (often developed at Siemens Corporate Technology labs) that don’t fit Siemens’ core business, and forms new ventures around them. STA provides seed funding, co-founding management, and access to Siemens’ infrastructure to these ventures, effectively acting as a venture builder. Over its history, the Siemens Technology Accelerator has spun out more than 12 companies across sectors like energy, industrial automation, healthcare, and materials. Notable spin-offs include MetisMotion (advanced actuators), Magazino (warehouse robotics – which STA helped early on), and Epiqo (a digital twin software). One high-profile case is Rethink Robotics GmbH: in 2020, STA helped relaunch assets of Rethink Robotics (the US cobot pioneer) in a joint venture, integrating it with Siemens technology. The typical STA project starts with identifying a tech with market potential. STA then recruits external entrepreneurs or Siemens intrapreneurs to lead the startup, develops a business plan, secures intellectual property rights (license or assign IP from Siemens to the newco), and provides initial funding (often low millions of euros). Siemens often remains a minority shareholder and provides pilot customers or manufacturing help. The time from project inception to an independent company launch is around 18–24 months. STA’s model addresses a common big-corporate problem: great inventions that don’t make it to market. By essentially incubating startups from within, Siemens both creates value from dormant IP and fosters innovation culture. Many STA spin-outs go on to raise venture capital or get acquired. For example, Ionity (an EV charging network) was seeded by Siemens’ STA and later became a major joint venture with automakers. The Siemens Technology Accelerator operates with a small specialized team and has won awards for corporate venturing. It serves as a best-practice example of how large industrial firms can proactively spin off new ventures rather than let R&D sit on a shelf. In essence, STA extends Siemens’ innovation beyond its core by unleashing startups that bring cutting-edge tech (like novel sensors, new materials, etc.) to the broader market.
Founded 2002 in Upper Austria. Incubator providing training, personalized mentorship, market analysis, free office space, and investor network access; alumni include hardware and IoT companies. Scope: Regional (Upper Austria).
Universal Robots was founded in Odense in 2005 and pioneered collaborative robots that are safe, flexible, and easy to program for small and mid sized manufacturers. The company introduced affordable robotic arms like the UR5 and helped establish the global cobot category. After strong growth, Universal Robots was acquired by Teradyne and continued expanding its product line and ecosystem. It is a cornerstone of Denmark's robotics cluster and a global automation leader.