From Aid to Business: Punda Finds Its Way to the Market with Solid Support from the Mentoring Service
How do you build a commercial company around an invention when your background is in development aid, not business? For Punda AS, the answer has been to use the 24-hour mentoring program at EDIH Oceanopolis through Nordic Edge as a guide.
Through the mentoring program, the company from Tau in Ryfylke has received strategic guidance, structure for its commercial efforts, and a clear direction.
A Self-Propelled Wheel for Two Markets
Punda AS is developing a modular, electric, self-propelled wheel that can pull, push, carry, and transport equipment in agriculture, forestry, and park maintenance. The wheel is lightweight, can be charged using solar panels, and can be connected in pairs or larger configurations. This makes it ideal for situations where a tractor falls short—on steep and difficult terrain, and on soil that cannot withstand heavy machinery.
“Anything that can be pushed, pulled, or transported, you can probably handle with this wheel,” says Jørn Lemvik, COO of Punda AS.
The technology is currently undergoing field testing with two prototypes. The strategy follows two tracks: First, Norway and Europe, where small-scale farms, park authorities, and farmers are potential users. Next, the Global South in Africa, where the need is even greater.
“I’ve lived in Africa for 14 years and worked in half of the African countries. In many places, manual labor is still the only method used. Moving from manual labor to a wheel that can till the soil can make an enormous difference,” says Jørn.
From Aid to Business
Jørn joined Punda after a long career in the aid sector. When entrepreneur Ola Hovda showed him the drawing of the wheel and asked if this could be something for Africa, the answer was an immediate yes. But the path from a good idea to a commercial company required expertise the team didn’t have.
“I have little business background. For me, EDIH’s mentoring service has been incredibly useful. I’m learning new words and expressions all the time. But through the program, we’ve gained insight into where we stand and a much clearer direction for where we’re going,” says Jørn.
Through the 24-hour mentoring at EDIH Oceanopolis, Punda has worked specifically on its pitch, business plan, and cash flow analysis—tools that were completely new to a team with a background in technology and aid. At the same time, the company is participating in Nordic Edge’s Investor Readiness program.
A guide, not a judge
Jack Davies, a business developer at Nordic Edge, has served as a mentor for Punda through EDIH Oceanopolis. For Jørn, the way the guidance is provided has been just as important as the content.
“Jack isn’t the confrontational type; he’s more of a guiding presence. He shows me, in a kind and gentle way, which direction to take. If it weren’t for Jack and this group, I think I would have been lost,” says Jørn.
“Our job as mentors is to help them translate a credible engineering story into an equally credible investment case. Once that’s in place, Punda stands strong,” says Jack Davies, Business Developer at Nordic Edge / EDIH Oceanopolis.
They don’t just pat us on the back—they help us move forward
One of the most important exercises has been about building a business plan that’s honest—one that neither embellishes reality nor undersells the potential.
“I’m a pretty honest person and struggle to exaggerate. The challenge has been to phrase things in a way that’s honest, but at the same time shows that we know where we’re going,” says Jørn.
The feedback along the way has been direct, and that’s exactly what he finds valuable.
“Nordic Edge, our mentors, don’t just pat us on the back—they help us move forward. “When I’m told that the business plan isn’t quite there yet, it means to me that we’re on the right track—and that someone who knows what they’re doing actually cares about making sure it turns out well,” he says.
The impact is also felt internally. Following the last general meeting, the shareholders have organized themselves into two working groups—one for technical matters and one for marketing—and the company is moving in the same direction.
“I saw a path we need to take, a path I hadn’t seen before. Before, I was mostly preoccupied with everything I couldn’t do and everything I didn’t understand. Now we’re working purposefully to get where we need to go,” says Jørn.
The Way Forward
Punda is now working to secure funding for the next phase: the production of pilot wheels and their rollout to users such as park departments, agricultural schools, and organic farms. The strategy is deliberate: test before investing.
“If we can get wheels out to the park authority, an agricultural school, and the organic farm, we’ll get a lot of value in return while also testing the wheel. When the users provide feedback, our case becomes much stronger and more convincing, ” says Jørn.
The plan is to start production in Norway in 2027, before the company turns its attention to Africa in 2028, with leasing models that make the wheel accessible to smallholder farmers without putting them into debt.
– Punda demonstrates the breadth of what EDIH Oceanopolis is meant to be. They came in with strong technology and a clear social mission, and through 24-hour mentoring, they’ve structured the commercial aspects—from pitch to business plan. This is exactly the kind of journey the program is designed for, and we’ll continue to support them as they move toward meeting with investors,” says Lisbeth Sørgård Kjøpstad, project manager for EDIH Oceanopolis at Nordic Edge.
“I’m not sure we could have done it on our own.”
For Jørn, the conclusion after the mentoring program is simple—and he’s happy to recommend the program to others in the same situation.
“If we hadn’t had the agreement with Validé and Nordic Edge, I’m not sure we would have managed it. We would have spent our energy on a lot of things that would never have come to fruition. This has helped me, and it has helped Punda a great deal,” concludes Jørn Lemvik, COO of Punda AS.
