Only one in five entrepreneurs is a woman

'We know too little about why so few women start their own businesses. Networks, role models and funding matter, but our gender-segregated labour market also appears to play a part. Whatever the reasons, we have a great deal of work to do together,' says Håkon Haugli, CEO of Innovation Norway.

Only 20 per cent of companies receiving funding from Innovation Norway have a female CEO. In total, 816 companies with a female CEO received funding last year.

'We are not satisfied with that figure. Greater diversity will bring different ideas, new perspectives and more innovative solutions to the challenges of the future,' says Haugli.

Studies show that exposure to innovation during childhood has a significant impact on girls' likelihood of becoming innovators themselves. Women's entrepreneurship is influenced by the level of entrepreneurship among neighbours, family members and people who attended the same school and were in the same year group.

'Unfortunately, few women apply to us for support, but at the same time, more and more female entrepreneurs are becoming visible in society. I believe this will inspire the next generation of female entrepreneurs,' says Haugli.

The proportion of women among businesses that received funding from Innovation Norway in 2023 was lowest in the three western counties of Vestland (16 per cent), Rogaland (17 per cent) and Møre og Romsdal (19 per cent). Innlandet was also at the lower end, with women accounting for 19 per cent.

The northern counties of Nordland (27 per cent) and Troms og Finnmark (24 per cent) have the highest proportion of women.

Women account for 22 per cent of our customers in Oslo, 21 per cent in Agder and 20 per cent in Trøndelag.

Here, female entrepreneurs share what inspired them to start their businesses. They have all founded companies with ambitions for international growth:

Helene Margrethe Bøhler from Adamstuen in Oslo develops software for designing offshore wind projects.

'My mum started her own company and was an entrepreneur throughout my childhood. She sold the company when I was a teenager. Growing up with a female entrepreneur probably played a decisive role in my decision to start my own business,' says Bøhler.

Hege Tokerud from Toten uses artificial intelligence to keep children and young people safe online.

‘I grew up with a mother who took over the family farm and has been self-employed all her life. After finishing upper secondary school, I went to the US as an au pair. My host mother started a business during the year I was there, and I helped her make calls and find customers. I always thought I would run my own business one day. Both Mum and Lauren showed me how rewarding, demanding and enjoyable it can be, and they probably inspired me to start a business myself,’ says Tokerud.

Jeanette Grønnslett from Bodø has developed, patented and launched a new solution that makes donating breast milk simple, hygienic and safe.

'I left my secure, permanent position as a paediatric nurse and ventured into unknown territory. However, a strong local network was ready to help me, including Inkubator Salten, Bodø Municipality, Innovation Norway and the investment company Nyhamn. They all support businesses seeking to establish new commercial activities,' says Grønnslett.

Børrea Schau-Larsen from Bergen is developing financial technology to help buildings across Europe become climate-neutral. Finance is key to this transition, but banks lack the data and tools they need to make their portfolios green.

'Gro Harlem Brundtland was Prime Minister for much of my childhood. That made me grow up believing that women can achieve anything. My mother has also been a great inspiration to me. When I was 13, my father died, and she took over our family business, Solstrand Hotel & Bad. She has built a company that is well equipped for the future. DNB and Startuplab's confidence in the venture was also a deciding factor for me,' says Schau-Larsen.

Yrr Mørch from Trondheim uses nanotechnology to 'transport' medicine through the body.

'I had worked with the technology at SINTEF for many years and was asked to help set up a company to bring it to market. I thought that if we did not dare to try, this highly promising technology would probably never benefit patients. Funding from the public support system and close collaboration with SINTEF TTO were also decisive,' says Mørch.

Annette Anfinnsen from Nærbø in Rogaland provides mobile robotic solutions to automate logistics and the flow of goods.

'I worked at two startups before starting my own company. That gave me motivation and practical experience. My strength lies in combining technical expertise with commercial understanding. It gave me the confidence to take a risk and leave a salaried job,' says Anfinnsen.

Eva Cathrine Aardal Skuthe from Kristiansand is developing an innovative patch that relieves pain caused by mouth ulcers, providing more targeted pain relief.

‘What ultimately prompted me to start the company was a desire to solve a familiar problem, based on my own experience as a dental hygienist. I also have great confidence in our team, which brings together people with diverse and unique expertise in business and management, healthcare and finance,’ says Aardal Skuthe.

Ingrid Dahl Skarstein from Vadsø offers equipment testing for cars and drones in harsh climatic conditions and is now building a data platform.

‘The main reason I started the company was that I wanted to create something. We had the expertise needed to deliver the service we offer, so we were well placed to succeed. We just had to take the plunge and give it a go,’ says Skarstein.

We do not record the gender of our customers. The figures in this article were therefore produced by matching the names of managing directors or owners of businesses that have received support from us with lists of female and male names from Statistics Norway. One potential source of error is that some names, such as Ola, Alexander and Tore, are registered as both female and male names. In these cases, we have classified them as male names. This may underestimate the proportion of women. However, the margin of error is small, probably less than 1 per cent. Another potential source of error is that we do not have the name of the managing director for around 10 per cent of the businesses. We have therefore excluded all these businesses from the statistics.