1. finance
2. investing
3. venture capital

Entrepreneurs, Norway Supports You!
Jeanett Sandmo
Senior Advisor Strategy Entrepreneurship
Innovation Norway
www.innovasjonnorge.no
INNOVASJON NORGE 2015
Ny organisasjon og ledelse
Much more than financing
Photo: Johan Wildhagen/Innovation Norway
Innovation Norway:
Our services
Financing
services
Promotional
services
Competence
services
4
Advisory
services
Networking
services
An international organization
OFFICES IN
EVERY COUNTY
REPRESENTATION IN MORE
THAN 30 COUNTRIES
Våre
gründerbedrifter
vokser mer
21 %
Gründere og oppstartbedrifter
med støtte fra Innovasjon Norge
har 21 prosentpoeng høyere
omsetningsvekst
enn gründere uten støtte.
Source: Statistics Norway / Innovation Norway
Mål: Flere gode gründere
Flere gründerbedrifter «overlever»
Etter fem år er
72 %
av gründerbedriftene
fortsatt aktive.
Sammenlignet er 67% av bedriftene
i kontrollgruppa og
30 % av alle bedrifene
som startet opp i 2007
fortsatt aktive etter fem år.
Gjennomsnitt for IN er 72 %
Gjennomsnitt NFD er 73 %
Kilde: SSB/Innovasjon Norge
Spennende tech selskaper over hele landet –
«Bobler» av entreprenørskapslyst
8
Entrepreneurship & startup division
Cash
• Grants
• Loans
• Develop new products, alliances, eco system
Competence
•
•
•
•
•
Digital guiding and challenging application processes
Mentor
IPR
Open courses («Fra Ide til Marked»)
On invitation only («FRAM », «GET»)
Connections
•
•
•
•
•
Regional startup organisations, incubators, public services
Cluster programs (Arena, NCE, GCE)
Innovation contract (OFU/IFU, Bedr.nettverk)
Export accelerator (TINC)
Events, exhibitions & delegations (EMAX, …)
Culture
• Evangelisation
• From kindergarden to intrapreneurship
• Social Entrepreneurship
9
The Norwegian Startups Scene
www.innovasjonnorge.no
Go Global or Die?
www.innovasjonnorge.no
THE ENTREPRNEURIAL
SPIRIT INNORWAY HAVE
NEVER IS ALL TIME HIGH!
59-83% FROM 2003-2014
18
19
Ca. 50 000 new companies every
‘Enkeltpersonforetaksyndromet’
Sole proprietorship
Foto: Aaron Amat
www.innovasjonnorge.no
Kilde: SSB
The Challenge:
Low growth ambitions
•
Only 1 % of norwegian startup companies
express growth ambitions (GEM).
•
Only 1,3% of established Norwegian
companies qualify to be a growth company
*(SSB2006-2009).
•
3 % of newly established companies stands
for 60 % of the growth (NIFUSTEP)
Entrepreneurship is risky, but how risky is it
in Norway?!
Foto: Digital Vision
Think BIG!
• Solve problems with a big
enough market – Is the market
in need of ypour solution willing
enough to pay for it?
• Focus on the customers
• Think international markets
from day 1!
• Make sure you have the perfect
team
www.innovasjonnorge.no
• The Norwegian tech
startup scene is
immature compared
to the other Nordic
countries
• Few international
investors compared
to the rest of the
Nordics
• There is a huge
potential, highly
skilled entrepreneurs
and high quality
startups…..
Startup Extreme
- Building a more visible startupscene & attracting investors
Financing
Grant, loans, Public/industrial research and
development
www.innovasjonnorge.no
Financing ecosystem
IDEAVKLARING
Kunden
UTVIKLING
Privat
MARKEDSINTRODUKSJON
VEKST
Børs
Private investorer
Bank
Pollen
Venture
Såkorn
P.E.
Inkubator, TTO
Næringshage
Klynger, møteplasser
Offentlig
EU
Enova +
Forskningsrådet
Innovasjon Norge
Næringsselskaper
NAV
1. linje
NAV
SIVA
Most phenomenal
startup teams
create businesses
that ultimately fail.
Why? They built
something that
nobody wanted.
Eric Ries
Startup Grants
(Etablerertilskudd)
• Development, market introduction and early
growth phase
• Phase 1: “Market clarification”
Up to 150.000 covering up to 100% of the project cost
100.000
• Phase 2: “Commercialisation”
Up to 800.000 covering up to 75% of the project cost
500.000
18
Conditions for our support
• Adding value to Norway
Can you build it?
• Innovation
What’s new about it?
• Market potential
Is there a market for it?
• Profitable
How will you reach the market?
• Ability to complete
taskthey care?
Why will
• Triggering effect
32
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 / Design services
• Mentor programs
• International marked advisory
• Competence programs
• Network programs
Conditions for our support
• Adding value to Norway
Can you build it?
• Innovation
• Market potentialWhat’s new about it?
Is there a market for it?
• Profitable How will you reach the market?
• Ability to complete
task
Why
will they care?
• Triggering effect
35
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
36
Osterwalder´s Business Model Canvas
• Who are our Key
Partners?
• Who are our Key
Suppliers?
• Hvem er partnerne våre?
• Hvilke leverandører har
vi?
• What key activities do we
have to do to deliver the
Value Propositions?
• Hvilke kjerneaktiviteter
må vi selv utføre for å
levere verdiløftet?
• What Key Resources do
our Value Propositions
require? (Physical,
Intellectual, Human,
Financial)
• Hvilke ressurser trenge vi
for å oppfylle verdiløftet?
• What are the most important costs in our business model?
• Hva er de viktigste kostnadene i forretningsmodellen?
• What value do we deliver
to the customer?
• Which one of our
customer’s problems are
we helping to solve?
• Which customer needs
are we satisfying?
• Hva slags verdi gir vi
kundesegmentene våre?
• Hvilket problem løser vi
for kundene?
• Hvilke kundebehov
tilfredsstiller vi?
• How do we maintain the
relationship with our
customer segments over
time? (i.e. Personal
assistance, Self-service,
Automated services)
• Hvilken type relasjon har
vi til våre
kundesegment?
• Through which channels
do we reach our
customers? (Channel
phases: Awareness,
Evaluation, Purchase,
Delivery, After sales)
• Gjennom hvilke kanaler
når vi våre kunder?
• For what are the customers currently paying?
• How are they currently paying?
• Hva tar vi oss betalt for i dag?
• Hvordan tar vi oss betalt?
• For whom are we
creating value?
• Who are our most
important customers?
• Hvem skaper vi verdi for?
• Hvem er våre viktigste
kunder?
Skattefunn
• Administered by Forskningsrådet
• Legal right based scheme designed to promote R&D activity in Norwegian
companies
• Tax deduction of up to 20 per cent of the eligible costs related to R&D activity
Additional public funding
• EU funding
• Kulturrådet
• Local grants
• Etc.
Go Global
Competence & Network Services
www.innovasjonnorge.no
Working towards
more global
entrepreneurs from
Norway
We create learning &
networking
opportunities around
the globe for
Norwegian high
potential startups
Faster growth at lower risk
www.innovationnorway.no/GE
“I got loaded with inspiration and knowledge,
a true experience of a lifetime!”
— Terje Sørbø, Stifio
International learning arenas – Global
networks and services for startups
Entrepreneurial Marketing
NYC
Tech City London
TINC Silicon
Valley
GET Boston
Entrepreneurship in Emerging
Market India
TINC Singapore
Og Global Services – Soft landing spots in international markets
Around 230 Norwegian tech companies on training in global markets
43
Global Entrepreneurship
Problem / Solution fit
Product / Market fit
Skills for Scale
Entrepreneurship in Emerging Markets (India)
TechCity London
Entrepreneurial Marketing (New York)
TINC Tech Incubator (Silicon Valley + Asia)
Business Bootcamp (in Norway)
GET Global Entrepreneurship Training
www.innovationnorway.no/GE
(Boston)
Business Bootcamp 2.0
TINC Asia
“The TINC program has helped
us to find and connect with the
right people and most
importantly, in the right way”
- Christian Teigland, CEO of
OceanHub.
Global Entrepreneurship Training
PARTNERING WITH THE NUMBER ONE ACADEMIC INSTITUTION
ON ENTREPRENEURSHIP AND INNOVATION
Global Entrepreneurship Marketing – New York
Tech City Exceutive Accelerator (TEA) – London
Entrepreneurship in emerging markets - India
The Global Startup Ecosystem Ranking 2015
Copyright © 2015 Startup Compass Inc.
Copyright © 2015 Startup Compass Inc.
www.innovationnorway.no/GE
WE CONNECT
ENTREPRENEURS TO GLOBAL
NETWORK AND EXPERTISE IN
LEADING HUBS AROUND THE
GLOBE
Thank You!
Senior Advisor Strategy Entrepreneurship
Jeanett.sandmo@innovation norway.no
M: 92 22 63 78
@jeanettsandmo