Klarna founder to launch new ‘Nobel Prize for Impact’

According to BCG global assets under management are around $100 trillion, but only $715 billion, or less than 1%, goes on what you might term “impact” companies or projects to tackle the world’s biggest environmental and social issues.

Now, a Klarna founder plans to create what he calls a “Nobel Prize for Impact”. Niklas Adalberth co-founded Klarna in 2005 but left in 2015 and established the Norrsken Foundation in 2016, contributing $20 million to the launch and an additional $62 million in 2017.

Now, the organization’s new initiative will be “Norrsken Impact100”, an annual list of “the world’s most promising impact companies” in order to shine a light on founders working in this space.

The companies that will make it to the final 100 (announced this month) will be nominated by several partner organizations, including the Obama Foundation, SoftBank Investment Advisers, World Fund, Katapult, BMW Foundation, Leaps by Bayer, Summa Equity and several others.

In a statement, Adalberth said: “We believe that entrepreneurs building rapidly scalable businesses are our best bet to solving the world’s hardest and biggest problems… Unicorns are usually companies with a valuation of over $1 billion, but we want to recognize potential impact unicorns – those that will positively impact 1 billion people.”

The Impact 100 will be judged by a panel including Adalberth, as well as Ulrika Modéer, UN Assistant Secretary General; Matt Miller, partner Sequoia; and Carl Manneh, co-founder Mojang.

The winners will be revealed at Impact Week in Stockholm this fall.

The Norrsken Foundation runs Norrsken House in Sweden, a hub for impact entrepreneurs, and incubated Norrsken VC, a $130 million impact VC. It also runs Norrsken 22, a $200 million growth fund for African startups.