Making impact possible, triggering a wave of change: investment managers Frederike Hummel and Reno Minnema of the Frisian Development Company (FOM) are tremendously driven to support Frisian entrepreneurs in realizing their innovative plans. Together with their colleague Sybo Zijlstra, they are looking for entrepreneurs with a mission, because FOM funding makes it possible to take serious steps.
Actively seeking
The FOM is an investment fund that supports companies and innovative projects in Friesland with funding, with the aim of stimulating regional economic growth and sustainability. Although the Province of Fryslân is 100% shareholder, the fund operates autonomously and is managed by an independent investment committee and a Supervisory Board. The Province of Fryslân aims to strengthen broad prosperity in Friesland with the Blue Delta Economic Cooperation Agenda. This consists of a number of spearheads. We highlight the spearheads Circular and Maritime in this article, because Frederike Hummel and Reno Minnema are actively looking for innovative companies in these sectors.
Maritime innovation
Reno: 'Friesland is a water province with an extensive system of waterways. As a result, a lot of water transport takes place here, we have large shipbuilders and suppliers and many water recreation companies. It is quite a large and impactful sector in our province.' FOM wants to add value in this sector, for example, for innovative suppliers using recycled or sustainable materials. 'Think of ideas for autonomous navigation through sensors, sustainable alternatives to the teak deck, or plans for a boat that is as recyclable as possible.'
Although boat owners are not allowed to discharge toilet water into surface water, in practice this still happens often. Reno: "How nice would it be if there were an innovative solution to this problem? A system that is both practical for the boat owner and friendly to the environment. Think of a smart, sustainable technology that directly processes and purifies toilet water, or a new way of sanitation on board that works completely circular. We love to be surprised by the next innovation that benefits both the boat owner and our public waters!
Circular impact
As for the circular sector, Frederike hopes for a broad palette of companies to engage with. 'For example, entrepreneurs who are doing something innovative by converting their chemical processes so that they are less harmful to the environment. But also collecting and sorting residual products, which can be used as raw materials after processing, can be very effective. Sometimes circular solutions can be simple but make a lot of impact.'
A great circular example from the FOM portfolio, Frederike thinks, is the company Recell, a specialist in the extraction, reprocessing and application of the raw material cellulose. 'Recell wants to contribute to a circular economy, in which waste processors no longer exist: they have changed into suppliers of raw materials,' Frederike says. Recell makes cellulose not from trees, but from residual streams from industry, sewage and waste paper. Moreover, the company provides high-quality employment and contributes to the province's goals in terms of economic spearheads and international competitiveness. Frederike: 'The innovation that Recell opts for - and in which we are happy to support them - also turns a light on other entrepreneurs. This way of producing makes sense and is economically interesting. We like to give a kickstart to these kinds of innovative ideas, which go hand in hand with sustainability.
Entrepreneurs with a mission
FOM offers not only financial support, but also expertise in scaling up, access to a relevant network and opportunities to finance your next growth steps. Reno: 'We can help an entrepreneur move forward and, in doing so, perhaps create a wave of change throughout the sector.' Frederike adds, 'We also see that the demand from customers and from society for more sustainable products is a strong push for companies.' Reno concludes, "In short, we are looking for entrepreneurs who are purpose driven, people who really have a mission with their product or innovation. We are just as driven: together we can make serious impact.
New face: Frederike Hummel
With the arrival of Frederike Hummel, the FOM team is complete. Frederike is a born and raised Frisian. She moved to the Randstad after her studies in Groningen. 'I worked at ING for eight years and did a lot of SME and private equity funding. A small part of my work involved sustainable investments, which I really enjoyed. I therefore made the switch to an impact investment fund, for investments with both financial and social returns.' Because of a desire to return to Friesland, she seized the opportunity to engage with FOM. 'My work here is similar to my previous work, although it was on a larger scale. I like that I can now help further develop my home region and make a positive impact here.'
Hey entrepreneur: feel like sparring?
Even if you are not yet sure if your issue qualifies for funding, the FOM is happy to engage with you. 'Not only with companies in the circular and maritime sectors, or one of the other provincial focus sectors, other companies are also at the right place with us,' Reno emphasizes.