FOUNDER: Jakob Brattli Sørensen is the mind behind the company Eagle AI.
Jakob Brattli Sørensen is founder of the Bodø-based company Eagle AI.
The company is working on software that uses data to better predict where fish stocks can be found.
– Over the past year, we have had incredibly good progress, says Sørensen.
– We have expanded the team from one person to five.
Good prospects
The company is not old. The foundation date was in May 2023.
Since then, the entrepreneur has worked hard to develop his idea.
By predicting where fish are likely to be in the sea, fishermen are given the opportunity to take more direct routes to the fish. This reduces the consumption of fuel, in addition to allowing the quota to be taken up more quickly.
A lot has happened in the last year, Sørensen shares.
– We have developed a prototype, he says, and adds that a field test has also been carried out in the market, which has gone well.
They have managed to raise NOK 200,000 in capital and have applied for NOK 1.6 million for further work.
– The prospects look good.
– Incredibly important prize
What has been an important catalyst for the positive development was when the company won the prestigious "High North Young Entrepreneur Award" in Bodø last year.
The award, which is an international pitch competition for Arctic business ideas, is awarded annually during the High North Dialogue conference organized by the High North Center.
– The price was incredibly important to us, he says.
– At this point we only had one person on the team. We were very unsure how to get started with team development and capital raising.
The award comes with a monetary prize of NOK 50,000, which made it possible to establish a limited company. Sørensen had not been able to afford this before the award.
– It also gave us the publicity and credibility to be able to expand the technical team.
Happy for the commitment
The next time the prize will be awarded will be during the Arctic Congress Bodø 2024, which takes place in Bodø from 29 May to 3 June and which brings up to 1,500 international researchers to Bodø.
Researcher Elena Zhurova Sæther at the High North Center is the coordinator of the High North Young Entrepreneur Award.
She is happy about the feedback from last year's winner.
– Our competition covers an important niche by meeting the needs of projects in the early phase - when funding opportunities often are limited. It is also exciting and important that our competition is open to the entire northern area.
– I would like to mention that participating in the finals is valuable, regardless of whether one wins prizes or not.
– It gives the opportunity to promote their projects to several hundred Arctic experts and is an important networking arena on an international level, says Sæther.
The finalists for this year's award will be presented on 31 May.
Working towards acquiring the first customer
The future looks bright for the Bodø-based company, and Sørensen says they are working towards becoming investor-ready.
He says that the goal is now early commercialization to get paying customers, and they are aiming for 2025 in that regard.
– We are working towards acquiring the first customer next year, he concludes.
