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  • Results

    Some main results from the Annual Report 2019.

    •  Decisive: Nine out of ten companies believe Innovation Norway's contribution is decisive for the realization of projects (Oxford Research).
    • Triggering effect: NOK 1 from Innovation Norway in the form of capital or advice is matched by NOK 1,7 in self-financing or financing from other sources of financing for development projects and investments.
    • All time high for environmental technology support: 2019 was a record year for the Environmental Technology Scheme, which provides grants for innovation and development of new environmental technology. In total, NOK 608 million was allocated to Norwegian environmental technology projects. Of all Innovation Norway's grants, 51 percent was given to projects that have a defined environmental impact. This is an increase of two percent from the previous year.
    • Increased value creation: Companies that receive support from Innovation Norway have an average annual added value increase of 8,3 percentage points over a three-year period. This indicates that Innovation Norway's customers receive an average of about 25 percentage points higher value creation three years after the commitment, compared to others who have not received support (Economics Norway).
    • Increased sales, productivity and number of employees: Companies that receive support from Innovation Norway have an average annual growth in sales revenue and productivity of 9,0 and 4,0 percentage points respectively. An increase in productivity of 4,0 percentage points in productivity is considered good, given that the total annual productivity growth of the business sector is one to two percentage points. Also measured in the number of employees (FTEs), there is an annual growth in enterprises with support from Innovation Norway of 3,1 percentage points compared with companies without such support (Economics Norway).
    • Internationalization: Companies that have used international market consulting have 8.2 percentage points higher sales, 4.1 percentage points higher growth in value creation and 2.3 percentage points higher productivity growth, than comparable companies that have not used these services from Innovation Norway (Economics Norway).
    • Got started: Two out of three companies state that the services they received from Innovation Norway helped them get started on their internationalization process. (Oxford Research).
    • NOK 300 million from the EIC: Innovation Norway provides advice and guidance for EU funding, and in 2019, 38 Norwegian small and medium-sized enterprises received a total of almost NOK 300 million from the EU's newly created Innovation Council, the European Innovation Council (EIC).
    • The Explorer: By the end of 2019, 302 Norwegian companies had registered their solutions in The Explorer. The Explorer, which is a digital showroom for Norwegian green solutions, was launched internationally in the spring of 2019. The website has attracted more than 800 000 visitors from over 100 countries.
    • Most to growth companies: NOK 3,2 billion (53 per cent) of the total funding from Innovation Norway went to growth companies (companies older than three years). In addition, the value of consulting, expertise, networking and profiling comes to a total of NOK 297 million.
    • Start-up financing: In 2019, Innovation Norway granted loans and grants totaling NOK 1,6 billion to start-up companies. 127 entrepreneurial companies received start-up loans totaling NOK 199,2 million. The start-up loan gives entrepreneurial capital to build the company further and commercialize products faster.
    • Renewable solutions: In 2019, Norwegian farmers invested more than NOK 300 million in renewable energy solutions, mainly bioenergy. In total, NOK 93,3 million was allocated from the Value Creation Program for Renewable Energy in Agriculture based Businesses, which is the highest in the history of the program. Since the start of the Value Creation Program in 2003, a total annual production of 475 GWh has been established. This corresponds to the annual energy consumption for heating more than 30 000 houses in Norway.