Rwandan Start-Up Nominated for ‘Nobel Prize for Impact’

Ampersand, an electric motorcycle company, has been nominated among 100 global most promising impact companies, tackling environmental and social problems.

Ampersand is a local electric motorbike company that has successfully rolled out electric-powered motorbikes with battery swap stations.

Two companies out of those listed, are set to be recognised for the “Nobel Prize for Impact” in September.

“We are honoured to be listed as one of the Norrsken 100 most promising impact Startups alongside heavy hitters like SpaceX, ZeroAvia, d.light design, apollo agriculture,” Ampersand said in a tweet.

Launched by the Norrsken Foundation, the list was selected on the basis that all nominees work to address the UN Sustainable Development Goals and have them as an intrinsic and non-negotiable part of their business model.

And if they don’t yet have a minimum viable product on the market, they should at least have raised a seed round or Series A — with the aim and ability to scale quickly.

“At the moment, these companies are not being given the recognition they deserve and that’s where the Impact100 comes in. These awards cut through that noise and put the best impact entrepreneurs on a pedestal. We want the Impact100 to become the ‘Nobel Prize for Impact’ — recognising those who are leading the world in impact entrepreneurship and helping build a better planet,” Niklas Adalberth, founder of the Norrsken Foundation said.

Adalberth believes one of the many difficulties faced by business owners is that, despite tackling the world’s biggest problems, they receive the least share of VC funding, which, in actuality, is less than 1 per cent.

“By providing this “Norrsken Impact100″ recognition, businesses will be able to attract more investment, and potentially impact even more people.”

The list, he said, consists of companies that have positive global impact as an intrinsic and non-negotiable part of their business model; high-risk, high-potential businesses that aim to grow quickly by leveraging scalable technology; businesses that can combine commercial viability with positive global impact; and, companies that have delivered a minimum viable product (MVP) to market, and/or have raised Seed or Series A funding.

Ampersand is part of the group of the eighth African Start-ups to feature on the list. Europe takes the majority with 36 of them.

“The purpose of the awards is to shine a spotlight on the visionary founders that are changing the world for the better. Because if they win, we all win,” Adalberth added.

The Norrsken Foundation runs Norrsken House in Sweden, a hub for impact entrepreneurs, and incubated Norrsken VC, a $130m impact VC. It also runs Norrsken 22, a US$200m growth fund for African start-ups.

This is not the first time Ampersand is getting global recognition.

In May this year, it also featured on the World Economic Forum (WEF) list of 100 innovative tech start-ups for its 2022 Technology Pioneers cohort.

WEF, said at the time, the Technology Pioneers’ list is an assemblage of leading “early-to-growth-stage companies from around the world that are pioneering new technologies and innovations.”

These start-ups are at the forefront of their industries, leading change and solving some of the world’s most pressing problems including climate change, food security, and cybersecurity, among others.