Doing Business With Norway · •Economic, environmental and social dimension in all cases/projects •Promote sustainability by mobilizing areas where Norwegian companies have comptetive

www.innovationnorway.no

Doing Business With Norway

Zagreb 25. April 2017

www.innovationnorway.no

Innovation Norway “We give local ideas global opportunities”

Erik B Wiken, Innovation Norway

Innovation Norway – About us

• One door for the trade and industry

• Most important targets: Small and medium sized businesses

• The Ministry of Trade, Industry and Fisheries owns 51 %, the county municipalities own 49 %

• Established by law with its own board

• Anita Krohn Traaseth, CEO from September 2014

Photo: Jo Michael

PurposeInnovation Norway is the government’s most important instrument for innovation and profitable business development throughout Norway

Main GoalInnovation Norway’s programs and services are intended to create successful entrepreneurs, more enterprises with capacity for growth and more innovative business clusters

www.innovationnorway.no

Owned by Ministry of Industry and Fisheries (51%)

and the muncipal counties (49%)

Office in all counties and 35 countries

700 employees

Innovation Norway facts and figures (2015)

GRANTS

3.4BILLION NOK

FUNDING

6.125BILLION NOK

PROJECTS VALUE

16.3BILLON NOK

6 615 PROJECTS

We stimulate value adding activities and growthin Norwegian businesses

Entrepreneurs

Growth

Innovation clusters

8

Innovation Norway contribute to:

• Enhancing innovation in Norwegian enterprises and

industry

• Building competitive Norwegian enterprises in domestic

and international markets

• Promoting Norwegian enterprises and Norway as an

attractive tourist destination

• Securing development in rural areas

• Transforming ideas into successful business cases

Profiling Competance Advice Network & clusters Financing

How can Innovation Norway support businesses?

www.innovationnorway.no

We are close to the Enterpriseswherever they are…

www.innovationnorway.no

… and we are close to the Customer’s

Market

VisitNorway

ExportNorway

Invest inNorway

Business Partnerships

Our assignments internationally- should be seen more in the overall context

HIGHER GROWTH IN TURNOVERStart-ups with support from Innovation Norway had

21 pp higher turnover growth

than enterprises that did not receive such support.

HIGHER SURVIVAL RATE

72 pp of the supported enterprises

remain active five years after their inception in 2007.

More successful Entrepreneurs and Start-ups

Source: Statistics Norway / Innovation Norway

Goal: Mores successful entrepreneurs

The growth in turnover was 8.6 percentage points higher in enterprises that were customers of Innovation Norway than in the control group.

Enterprises not supported by Innovation Norway

Enterprises supported by Innovation Norway

Annual growth

More Enterprises with Capacity for GrowthHIGHER GROWTH IN TURNOVER

Source: Statistics Norway / Innovation Norway

Source: Statistics Norway / Innovation Norway

35 cluster projects (Arena, NCE or GCE). The cluster projects report a total net increase of 159 participants.

12.9 %

higher growth in turnover during the first three years of participation in a cluster.

8.3 %

higher growth in the number of employees.

CLUSTER PARTICIPANTS GROW FASTER

More Innovative Business Communities

• Economic, environmental and socialdimension in all cases/projects

• Promote sustainability by mobilizingareas where Norwegian companies have comptetive advantages

• Prioritize projects & companies thatdeliver sustainable solutions

Sustainability is core to our business Sustainable

development is

development

that meets the

needs of the

present without

compromising

the ability of

future

generations to

meet their own

needs.

The world delivered demands

Challenges Lead to New Opportunities

More pressureon natural resources

Strong growth ofthe world population

↓

From 7.4 to est. 8.6 bill.by 2035

Global warming

2 degree increase↓

Sea level rise+ damage to agriculture

and infrastructure

Urbanization

More and Bigger Cities↓

Changes in Socio-EconomicConditions

Good business practice Sustainability

• Avoid damage• Corruption• Violation of human rights• Poor working conditions• Harmful effects for consumers,

local communities and environment

• Responsible approach• Good assessments• Stakeholder analysis• Best practice in relevant sector

Company Project

Environmental effectsWater treatment

Production of renewable energy

Reduction in green house gasses

Better utilization of biological resources

Reduction and handling of waste

Energy optimalization

Economic effectsValue creation in Norway

The company’s performance

Corporate and socio- economic

profitability

Owners’ required rate of return

Risk assessments

Social effects:Better public health

Safer society

Regional and district job creation

Diversity in business

Apprenticeships

Increased animal welfare

Development local communities

Other challenges

Dream Commitment process 2014 - 2016

Prioritize areas where Norway has competitive advantages

internationally.

Prioritize new growth companies. This includes companies who wish

to challenge existing solutions and structures and will encourage more

companies to apply sustainable principles as a strategic competitive

choice.

Prioritize entrepreneurship. Entrepreneurs represent new sprouts for

future industry, and combats rising unemployment.

Develop a strong national brand.

Develop competence within the areas of opportunity, which is crucial in

the dialogue with stakeholders, in order to have the right means and

schemes for supporting client growth.

Innovation Norway’s Strategic Directions

Source: Statistics Norway / Innovation Norway

35 cluster projects (Arena, NCE or

GCE).

The cluster projects report a total net

increase of 159 participants.

12.9 %

higher growth in turnover

during the first three years

of participation in a cluster.

8.3 %

higher growth in the number

of employees.

CLUSTER PARTICIPANTS GROW FASTER

More Innovative Business Communities

Entrepreneurship & startup division

• Grants

• Loans

• Develop new products, alliances, eco systemCash

• Mentor

• IPR

• Competence programs (TINC, GET, etc.)

Competence

• Cluster programs (Arena, NCE, GCE)

• Innovation contract (OFU/IFU, Bedr.nettverk)

• Export accelerator (TINC)

• Events, exhibitions & delegations (EMAX, …)

Connections

24

www.innovasjonnorge.no

Think BIG!• Solve problems with a big

enough market – Is themarket in need of yoursolution willing enough to pay for it?

• Focus on the customers

• Think internationalmarkets from day 1

• Make sure you have theperfect team

Startup Grants

• Development, market introduction and early growth phase

• Phase 1: “Market clarification”

Up to NOK 100.000 (EUR 11.000) covering up to 100% of the external project cost

• Phase 2: “Commercialisation”

Up to NOK 700.000 (EUR 77.000) covering up to 75% of the project cost

18

27

Conditions for our support

• Adding value to Norway

• Innovation

• Market potential

• Profitable

• Ability to complete task

• Triggering effect

Can you build it?What’s new about it?

Is there a market for it?How will you reach the market?

Why will they care?

28

We do not give grants if

• Payment problems, poor financial situation

• Inventions lacking business sense

• Company older than 3 years (5)

• Local focus – traditional commerce, private service, consulting, hand craft

• Import, agencies or licensing businesses

Source: Steve Blank

Other Grants and Loans

• Public/industrial research and development: Development of competitive products in an international market in collaboration with a customer (IFU / OFU)

• Innovation loans: Companies in the growth phase or loans for development of innovation projects

18

Other Services

• IPR

• Mentor programs

• International marked advisory

• Competence programs

• Network programs

Additional public funding

• EU funding

• Norwegian Research Council

Basic training

Academictraining

Market opportunities

Sales & marketing

training

Tech incubator

Executiveaccelerator

BUSINESS BOOTCAMP

Norway

(all regions)

«En smak av internasjonalt

entreprenørskap her hjemme»

GLOBAL ENTREPRENEURSHIP

TRAINING

ENTREPRENEURIAL SALES AND

MARKETING

ENTREPRENEURSHIP IN EMERGING

MARKETSTINC TEA

Babson College

(Boston)

«Seriegründere underviser -

hvordan lede en internasjonal vekstbedrift»

New Delhi

(India)

«Hvordan møte behovene fra

verdens raskest voksende

økonomier?»

New York

(USA)

«The Big Apple er verdens mekka for

salg og markedsføring –lær av de beste»

Silicon Valley & Singapore

«Silicon valley mindset, og

springbrett inn i Asia»

London

(UK)

«For tech-baserte selskaper med

høyt potensial og klare for vekst»

GLOBAL ENTREPRENEURSHIP

6 different programs

Program mission:Supporting clusters with a growth potential

Clusters must be based on a strategiccollaboration between companies,

knowledge providers and public sector

Cluster goals:Increased innovation capability and value

creation

POLICY – FUNDING - IMPLEMENTATION

Ministry of

Trade and

Industry

Ministry of

Local Government

And Regional Development

Linking policies

Innovation agencies: Linking roles and resources

ArenaNorwegian Centres of

ExpertiseGlobal Centres of Expertise

Support period

Annual support

Target group

No. clusters

Immature clusters

3-5 years

EUR 200.-300.000

20

Mature clustersNational position

5-10 years

EUR 500.-600.000

10

Mature clustersGlobal position

Up to 10 years

EUR 1 mill

4-5

PROGRAM OVERVIEW

Selection Annual open call – clear criteria – external evaluation panels

Program support

• Co-funding (50 %) of basic clusteractivities through a clusterfacilitator

• Advisory services

• Knowledge and skills

• Networking

• Profiling

4/25/2017 37

Arena clusters2016

1. Arctic Maintenance

2. BioTech North

3. Arctic Winter Adventures

4. Cod Cluster

5. Arctic Maritime Cluster

6. Mineral Cluster North

7. Oil&Gas Cluster Helgeland

8. Smart Water Cluster

9. Forest Industry Cluster

10. iKuben

11. Norwegian Rooms

12 LEGASEA

13. DesignArena

14. Norwegian Smart Care Cluster

15. Solar Energy Cluster

4/25/2017 38

16. Tunnel Cluster

17. Subsea Valley

18. Oslo EdTech Cluster

19. Norwegian Fashion Hub

20. Heidner

21. i4Plastics

16

2015

17

13

12

9

9

6

8

45

3

2

11

1

1918

21

7

10

14

Norwegian Centers of Expertise2016

1. NCE Aquaculture

2. NCE Instrumentation

3. NCE Tourism

4. NCE Seafood Innovation Cluster

5. NCE Media

6. NCE Maritime CleanTech

7. NCE Culinology

8. NCE Eyde

9. NCE Micro-and NanoTechnology

10. NCE Smart Energy

11. NCE Systems Engineering Kongsberg

12. NCE Oslo Cancer Cluster

13. NCE Health Technology

14. NCE Raufoss

15. NCE Aquatech Cluster

4/25/2017 39

1

2

7 109

12

1435

11

4

6

8

13

15

Global Centers of Expertise2016

1. GCE Blue Maritime

2. GCE Subsea

3. GCE Node

4/25/2017 40

1

2

3

CLUSTER GOALS

• Stronger interaction and collaboration

• Common strategic focus

• Increased innovation and entrepreneurship

• Better access to competence

• Stronger global orientation

• Improved attractiveness

Increased value creation and competiveness

CLUSTER DEVELOPMENT – NORWEGIAN EXPERIENCES

• Clusters are important drivers in regional and nationalinnovation strategies

• Strong demand for our cluster support

• Companies see the need to form partnerships – and to invest in cluster development processes

• Evaluations of cluster programmes and projects arepositive

www.innovationnorway.no

Doing business with Norway part 2Setting up Business and working in Norway

Where to contact for more information

Start and Run Business in Norwayhttps://www.altinn.no/en/Start-and-Run-a-Business/

Jobs in Norway

www.innovationnorway.no

There is a shortage of skilled workers in Norway, particularly in the retail and construction industries, and graduates with some knowledge of Norwegian have a good chance of finding jobs.

Nav.no: Nav.no is a giant in the job search field for Norway. It is a good place to get started.

Finn.no: The job postings are legit on this site.

Jobbnorge: Norway jobs, jobs, jobs!

Career Jet: I’m sure you’ve heard of Career Jet. They have job search options for Norway.

Indeed: The Norwegian version of the big U.S. job search site Indeed.com.

Learn4Good: Learn4Good has a good portal for jobs on a number of levels.

More information?

www.innovationnorway.no

Company - Institution Web page Comments

ALTINN Altinn-Start-and-Run-a-business in NorwayOfficial page for starting up and run business in Norway

Skatteetaten - Tax Authorities Taxnorway-International-pagesEmpoyment - Setting up business - Important information

Invest in Norway Innovation Norway-invest-in-norwayInvest in Norway - Governmental investment promotion agency

NORTRADE - Norway Export NorwayexportsGateway to Norwegian Export markets. Norwegian Exporters, Products and Services

NAV NAV-workinnorway Work in Norway - The Official Guide

Just Landed Justlanded-Norway-Guide-Jobs Jobs for foreigners in Norway

Target Jobs Targetjobs-working-in-norway Info page - Working in Norway

Life in Norway Lifeinnorway/jobs/construction/ Construction Jobs in Norway

Road Authorities Vegvesen- Road+projects Road projects in Norway

Other Networks

www.innovationnorway.no

http://www.oslobusinessregion.no/

http://oslointernationalhub.com/

http://startuplab.no/

http://www.meshnorway.com/

www.innovationnorway.no

Invest in NorwayWhat we do and who we are

Matchmaker and connectorNational contact pointWe provide informationAssess opportunitiesCarry out study trips and/or meeting programs

Facilitate investment processesPromotion

Invest in Norway team: Finn Aamodt, Per Stensland and Dag Ivar Brekke

www.innovationnorway.no

Oslo International – lean landing for Croatian business in Norway

Track recordInternationalizing Norway

• 2002: ANSA Alumni -> Approx. 150.000 Norwegian repats

• 2011: Club -> 2500 members with bi-weekly events since the start

• 2013: Incubator, Hub -> Coached 250 start-ups, expert role in EU

• 2014: International House -> Community + world trade center withsome 100 international start-ups

• 2015: Norway's only Welcome Centre

• 2016: Downtown International Hub, our 3rd location

• 2016: Preparing International Hubs in 4 cities in Norway outside Oslo

• 2016: Half of all bilateral Chambers of Commerce affiliated

At the crossroads of 3 worlds in Oslo

Startupcommunity

Business export/import

International professionalcommunity

International House• Incubator

• International Conference Center

• Most of bilateral Chambers of Commerce • Have offices: Israel, France, India, Romania, Estonia

• Created here: Emirates, Lithuania, Nigeria, Mongolia, Colombia

• Affiliated: Iran, Singapore, Ukraine, Netherlands

• Connected, not clear: Germany, Poland

• (Formerly: Latvia)

• In the making: Korea, Mex, Portugal, Swiss, Moroccan, Tunisia)

Hub Satellite (2nd) Global Talent Center – welcome

center

Downtown International Hub

Quick factsThe closest thing to a world trade center in

Norway today

The only purely angel-driven incubator in

Norway? – in Oslo, NOR, Nordic, Int’l

Third-largest in Norway 2400 sq.m, 202 desks

Active community memberMade most events during OIW in 2013, 14, 15 and

16?

Actively developing new chambers of commerce

Oslo’s only welcome prg for global talents, investors

Experience: Lean landing in Norway

We HOST incoming businesses

• Stay for a day, a month, a year

• All facilities and services

• Virtual office = Get an address

• Truly cosmopolitan business environment

We HELP incoming businesses

• Market study Norway

• Chairman/CEO-level if needed

• Always streetsmart

• Any industry

• No task too small

• With a smile

Norway grants applications/partners?

Long experience

• Team has EU project experience since1995

• Involved in many roles

• Across all sectors

• Our Center for International Soft Funding – has 10 years experience withgrant applications:• Norway Grants• EEA Grants• EU Grants

Specific strengths

• We don’t like ghost projects

• We pride ourselves on finding real solutions to real problems, throughsharing best practice

• Finding the best partner for you

Norwegians abroad

Ambassadors

Homebase

Homecoming course

Family relocation

Norwegian SMEs to go abroad

Exports-program

Global Business Roundtables

Chamber-program

Headhunting

Talents to Norway

Place-branding program

Welcome center

Spouse-program

Welcome Week

Invest in Norway

Business consulting

Talents in Norway

Oslo International Club

Host prg, career advice

Friday Lounge

Work experience

At-risk youth

About International House, OsloNorway’s third-largest startup-space

3 locations in Oslo, >200 desks, 2400m2

Base for 22 bilateral chambers initiatives

Run by business angels

Not-for-profit

Overarching initiativesInternational Hubs worldwide (7+35)

Oslo International Club w 3000 expats/repats

Business Angel community, 20 countries , 150+2500 angels

Thriving expat/repat community

Our programs

The most open arena in Oslo?

We are• Welcoming any professional

that is not-only-Norwegian

• Oodles of projects

• Business angels, network, mentors

• 3000+ professionals in ourexpat/repat club

• Ca 400 startups• 100 paying tenants/members• 100 regular hang-arounds• >200 alumni

Structures• Invest-in-Oslo - 50

• Host programs, career advice

• Global Business Roundtables

• Hub network worldwide

• International ambassadors

• Yearly 75-hour startup-prg

• Part of EU/Nordic projects

• Home for ca 20 bilateral chambers/proto-chambers

Three key entities

Welcome Center• WHO: Educated moving here• WHAT: Non-profit ltd.• Since 2015 planning:

• Personal advisor – for free• Handouts• Mentor-system• Welcome prg – professional• Welcome prg – social• Oslo Welcome Week• Course-catalog• Volunteering system• Norwegian course• NOKUT to sit here weekly• But: Volunteer-based not enough, not

fully operational

Club• WHO: 3000 expats/repats >30

• WHAT: Non-profit assoc.

• Since 2011 doing:

• National events/days

• Tertulia-program

• Pubnights

• Cafe Scientifique

• Club diplomatique

• Welcoming peers

• Ad hoc speakers for embassies and companies

Hub• WHO: 300+ startups, 100 daily.

• WHAT: not-for-profit ltd

• Since 2013 doing:• Incubator – helping you start up

• Headhunting/matching

• M&A, funding

• Programs

• Greater Oslo + International

• Home for bilateral chambers

• Business consulting

• Business matching

• Speciality: Lean Landing

Angels++

Business angels – the core of our community

Oslo International Angels

• One of largest angel networks in the Greater Oslo region

• 80 International members, 20 outside of Norway

• Have syndicated investments from several countries to Oslo-region

Business Angels Norway

• 8 regional groups + 1 industry-specific group

• Headquartered at Oslo International Angels

• Have syndicated investments from all over Norway

NordicBAN

• All Nordic+Baltic countries

• 2500-3000 angels!

Join our community!

businessangel.no