The Inova Foundation is preparing a purchase of DigitalWell Arena's accelerator for health services. Yesterday, the first step was taken when Region Värmland's regional development committee was positive about the deal.
DigitalWell Ventures is an accelerator for startups in digital health and welfare that was started by the Compare Foundation in 2020. The accelerator has quickly developed into one of the most cutting-edge and interesting for innovative health companies in the Nordics and Baltics.
About 30 companies have already undergone the accelerator program, several of which are now on the verge of a breakthrough. The companies have been picked up in Sweden, Norway, Iceland and the Baltics. Their services cover a wide field of health and wellness, from AI-powered hearing aids to digital counseling services. Of course, the Värmland startup scene is also represented, where DIRI Saftey Solutions, which recently received The CREATE prize is an example.
- This is an investment that both creates attractiveness for Värmland and new opportunities to solve our major health challenges in society. The Inova Foundation collects the region's most prioritized investments for companies linked to the region's most prioritized innovation environments. This strong regional support therefore creates great opportunities for DigitalWell Ventures to rapidly develop further, says Magnus Bårdén, CEO of Compare and Managing Director of DigitalWell Arena about the sale of the accelerator.
The Inova Foundation is run jointly by Region Värmland, Karlstad University and Karlstad Municipality. By incorporating DigitalWell Ventures into its operations, Inova wants to strengthen its role as owner of cutting-edge incubators, in which Sting Bioeconomy is already a part. Inova's mission is to support development projects, research-related activities and projects that promote the county's development.
- Compare is extremely proud to contribute to the region's development and looks forward to working closely together. DigitalWell Ventures will continue to be an important component in the development of DigitalWell Arena, the region's and Sweden's innovation environment for the health services of the future, says Magnus Bårdén.
Magnus Bårdén looks forward to continuing to develop DigitalWell Ventures in collaboration with a new owner.
Stefan Skoglund, Program Manager at DigitalWell Ventures, shares that image and confidently looks forward to becoming one of Värmland's spearheads for innovation and growth:
- DigitalWell Ventures will continue to be an accelerator for startups in digital health and welfare in the Nordics and Baltics that want to scale up, find financing and reach new markets. We will also be an active part of Compare's tech innovation platform through a close collaboration around tech, entrepreneurship and commercialization, among other things. We see great synergy effects in continuing to develop the cooperation that exists and expanding the platforms we participate in - both regionally, nationally and internationally. It's simply super exciting.
David Holm, Investment Manager, and Stefan Skoglund, Program Manager, are two of DigitalWell Venture's founders. Together with Sting Bioeconomy, they now represent two of Värmland's leading accelerators.
After Region Värmland's position, Karlstad municipality must also make a political decision on the matter, before Inova's board can complete the deal.
