UIC, Uppsala Innovation Centre, is proud to be one of seven Swedish incubators acting as strategic partners to Turbine Capital – a new venture capital fund focused on early investments in deeptech startups. The fund recently closed its first round of capital and aims to invest a total of SEK 750 million in Swedish deeptech ventures.
“Deeptech startups often require substantial capital already in the early stages, and there are currently few investors active in this segment. Our partnership with Turbine Capital is an important step toward securing the funding these companies need to tackle some of the most pressing challenges of our time,” says Niclas Stjernberg, CEO of UIC.
Ökat riskkapital till startups
Turbine Capital is the first fund in Europe to combine backing from both leading industrial companies and university-affiliated incubators and accelerators, providing startups with groundbreaking technology access to the funding they need to grow. Among the investors are the state-owned venture capital company Saminvest and major industrial players such as SAAB Ventures, Volvo, and Stena. The fund’s strategic partners include universities and incubators, among them UIC, together with two of its owners: Uppsala University Invest and SLU Holding.
“We are proud and pleased that UIC and the university-affiliated holding companies in Uppsala are involved as partners and investors in Turbine Capital,” says Pär Hedberg from Sting, initiator of Turbine Capital and one of its partners.
With a long-term perspective, the fund aims to invest in 30–40 early-stage deeptech startups over the next 15 years.
“This kind of groundbreaking technology developed in deeptech companies requires significant resources and long development timelines before it can be commercialized and deliver societal benefit. These are capital-intensive companies with high technical complexity, often subject to regulatory frameworks and real-world validation. That’s why Turbine Capital is such an important addition to the ecosystem, and we’re proud to be part of this initiative,” says Niclas Stjernberg, CEO of UIC.
Uppsala – a strong environment for deeptech
UIC works closely with Uppsala University and the Swedish University of Agricultural Sciences (SLU) – two of Sweden’s leading academic institutions – which has resulted in a high proportion of startups based on advanced research. This environment continuously generates startups with breakthrough technologies in areas such as biotechnology, environmental technology, advanced materials, and AI.
“Uppsala has a strong tradition of knowledge-intensive entrepreneurship. Our partnership with Turbine Capital further enhances the opportunities for startups in our region to access the capital they need to develop and bring their innovations to market. It strengthens our ability to support companies all the way – from idea to international growth,” says Niclas Stjernberg.
Unique collaboration to advance deeptech startups in Europe
Turbine Capital is expected to play a key role in strengthening the competitiveness of both Sweden and Europe. The fund combines financial investment with access to industrial expertise and corporate networks, making it unique in its kind.
“This is a way for us to both improve access to capital and deepen our collaboration with other incubators. Turbine Capital serves as a platform for developing our own working methods and increasing the impact of the support we offer. It’s a crucial piece of the ecosystem we are building both in and beyond Sweden,” says Niclas Stjernberg.
By partnering with a strong group of incubators, Turbine Capital gains broad reach and the capacity to identify promising startups in the field. This collaboration strengthens Sweden’s position as a leading player in deeptech innovation and contributes to accelerating the development of technologies that can address global societal challenges.
Combined expertise and funding for accelerated growth
A major challenge for many deeptech startups is access to capital in the early stages. Most established funds are reluctant to invest so early due to high risk and long time to market. This is where Turbine Capital fills a crucial gap – providing not only funding but also access to industrial expertise and potential collaboration partners or pilot customers through the fund’s corporate investors.
As a partner incubator, UIC helps identify and recommend startups to the fund. In parallel, UIC collaborates with other incubators to share experience and knowledge, which offers quality assurance for the startups that receive investment.
“Through Turbine Capital, we can help fill a vital gap in the financing chain and continue strengthening our offering. This is a key piece of the support UIC provides – startups also need strong networks and access to cutting-edge expertise, which is critical for bringing advanced technologies to market,” says Niclas Stjernberg.
Over the past years, UIC has expanded its access to specialized expertise and developed new tools for deeptech startups. Learn more about our advanced business development support for deeptech companies.
- Turbine Capital is a venture capital fund focused on early-stage deeptech companies, backed by several leading industrial corporations and university-affiliated incubators. It represents a new model in Europe for broad industrial and cross-sector collaboration within venture capital.
- With a 15-year investment horizon, Turbine Capital combines financial support with strategic partnerships to drive long-term innovation and global growth.
- Turbine Capital’s partner incubators are: ABI in Luleå, Uminova in Umeå, UIC in Uppsala, Sting in Stockholm, LEAD in Linköping, GU Ventures in Gothenburg, and IDEON in Lund.
- For more information, visit www.turbinecapital.vc