The government proposes to increase the framework for innovation loans, green restructuring, and export promotion through the business clusters.
- Innovation has never been more important for Norway to have a competitive and sustainable business sector. This budget confirms our core role; to lay the foundation for future value creation and jobs, says Håkon Haugli.
The business community is in a difficult situation. Due to the corona crisis, Innovation Norway's total framework for loans and grants in 2020 have been double that of a normal year. As of June 30, our contributions to the business community had surpassed those of the entire 2019.
- We are also ready to take on new tasks as a consequence of the corona crisis, says Haugli.
Green light for more EU programs
The budget also provides more opportunities for Norwegian business and industry to take part in the EU's research and innovation programs. The government allows Norway to participate in Horizon Europe, Digital Europe, the EU Space Programme, and a scheme to help small and medium-sized enterprises grow, COSME.
- The programs will give Norwegian companies access to networks, expertise and risk capital that are crucial for further development and commercialization in important export markets. This is good news for companies throughout the country, says Haugli.
The government is emphasising more strategic work with export through the state budget and a newly presented, separate export action plan.
- This is very important. Norway must export more. We are all completely dependent on that. To achieve this, we must develop strong regional companies and environments, says Haugli.
Innovation Norway's budget in numbers:
The government proposes to allocate NOK 4.2 billion to Innovation Norway next year. This is an increase from NOK 4.0 billion in the ordinary budget for 2020. In addition, there are loan schemes.
The increase is in green areas:
- -Green Platform is a collaborative project with the Research Council of Norway and Siva, where NOK 102.5 million will be managed by Innovation Norway.
- The environmental technology scheme increases by NOK 18.1 million to NOK 583.6 million.
Measures for exports increase by NOK 30 million.
The increases apply to Innovation Norway's ordinary budget. In addition, the government has announced that additional funds may be available to deal with the corona pandemic.