Results

Some main results from the Annual Report 2018.

  • Innovation Norway’s customers grow more than enterprises that are not customers: sales revenues increase by 9.4 percentage points a year. The corresponding figures for value creation and productivity are 6.7 percentage points and 3.0 percentage points, respectively. The added growth in the number of employees is 2.6 percentage points and profitability increases by 0.3 percentage points.

  • Nine out of ten customers state that Innovation Norway’s contribution was crucial for their innovation projects.

  • Innovation Norway’s services work: every NOK 1 in grants or loans, triggers NOK 2 in capital from the enterprises themselves, investors, banks and other funding sources.

  • 94 per cent of all cases were decided locally, close to the customers.

  • Since the launch of start-up loans in 2017, 190 enterprises have received NOK 264 million in loans from Innovation Norway. Each loan triggers at least NOK 1 million from private investors.

  • 750 enterprises have received advice from Innovation Norway’s international offices and 650 have received advice and improved their skills within technical trade issues via our Export Centre. More than 400 enterprises have taken part in fairs and events throughout the world.

  • Enterprises that have received international marketing advice from Innovation Norway experience a 6.2 percentage point increase in revenues and 3.3 percentage points higher growth in value creation than comparable enterprises that have not used the service.

  • 108 of Norway’s most ambitious growth companies participated in our international accelerator programmes in some of the world’s most competitive start-up cities.

  • 50 Norwegian companies received a total of NOK 400 million from EU programmes in 2018. This represents a year-on year increase of more than 40 per cent in number and monetary value.

  • Commitments to environmental projects accounted for 49 per cent of our total commitments.

  • More than NOK 150 million was distributed to cluster projects and almost NOK 32 million to enterprise network projects.

  • More than 100 Norwegian enterprises have registered in The Explorer, the showcase for green, sustainable, Norwegian solutions, which was launched at the Innovation Speech in May.

  • The sick leave rate was 3.8 percent in 2018, compared with 2.9 per cent in 2017. By comparison, the sick leave rate in public administration and the armed forces, as well as national insurance schemes under public administration, was 6.2 per cent in the third quarter of 2018.

  • Innovation Norway is considered an attractive workplace. The organisation was named Norway’s most attractive employer by economics graduates in a survey conducted by Universum. Innovation Norway also topped the list of the most attractive employers for economics students in a survey conducted by the Career Barometer.

  • The proportion of women at Innovation Norway was 56 per cent at the end of 2018. Almost 60 per cent of the new employees hired during the year were women.

Source: SØA