Financial services

Our financing services consist of loans, grants and guarantees, or a combination of these.

Innovation Norway is a financial investor who partners with organizations to contribute to increased value in Norway.  We especially like to subsidize our funding to innovative start-ups, rising enterprises and companies with ambitions for international growth.

- Low risk loans

-Innovation loans

- Grants

- Guarantees

Read more about the types of financing

Company and project financing

Innovation Norway support and contribute financing to profitable projects that revolve around the development, modernization, restructuring and expansion of companies and new start-ups. Financial support is offered to small, medium and large enterprises in all industries and sectors across the country.  Close considerations and advice are made to locate which form of financing that will suite each enterprise the best.

Companies can receive loans, guarantees and grants through the financing services offered through Innovation Norway. Grants are primarily given to small and medium-sized businesses; the funding is substantially greater in the districts than in the central areas. The project must have a documented potential for growth in either domestic or international markets.

What can be financed?
Examples of initiatives that are supported:
- Research and development
- Technical pilot/feasibility studies
- Training
- Consultancy
- Exhibition participation

Start-up grants

The financing service are meant as a financial contribution to promising start-ups who has growth ambitions and an established business concept which represent something new and significant in the market. The aim of the financial aid is to stimulate towards the successful establishment of new enterprises and contribute to the implementation of necessary measures they may need at an early startup phase.

What can companies get the start-up grants to?

Phase 1: Market Clarification
- Evaluate customer needs in the market.

Relevant activities may be:
• customer surveys
• user studies and other mapping to get more user insight
• testing and further development of the idea / solution
• costs related to networking and strengthening of expertise in business

Pledges in Phase 1 will be from NOK 50 000 - 150 000 - depending on the complexity of the project.

If you can document that your project is newsworthy and has growth potential after Phase 1 (Market clarification), the research may qualify for grants for Phase 2 (Commercialization).

Phase 2: Commercialization
- Activities related to further commercialization that help the company grow rapidly.

Relevant activities may be:
• product/service development (including design projects and/or collaboration with pilot customers)
• protection of intellectual property rights
• development of brand strategy, visual identity, website, profile materials and other activities that ensure a comprehensive and best possible market introduction

Pledges in phase 2 is up to NOK 800 000.

Who can receive grants?
Grants are given to companies who have been registered as an enterprise for less than 3 years. Companies that have been registered for less than 5 years may qualify for Phase 2 (commercialization). 

Research and Development Contracts

The financing service of R&D Contracts address companies that have an innovative project with international potential and want to develop their potential in close cooperation with a customer within the public or the private sector.Innovation Norway annually provides nearly 300 million in grants to research and development contracts in the industrial and public sectors to alleviate risks and encourage start-ups of demanding development projects.

R&D Contracts trigger an innovative partnership between two or more parties. Through close cooperation a supplier get unique insight into the customers need. The result is a product that is much better adapted to the marked.  The selection criteria are the project's level of innovation, international marketing potential, as well as the economic feasibility and ability to carry it through.

The two main features of the program:
•Industrial R&D contracts (IRD) –  A binding development contract between two or more innovative suppliers and customers in the private sector. Cooperation with demanding foreign customers produces the best results.
•Public sector R&D contracts (PRD) – A binding, targeted cooperation between innovative Norwegian supply companies and the Norwegian public sector such as, organizations, e.g. municipalities, county councils, government bodies, hospitals and the Danish Defense.

Environmental technology scheme

The financing service of the environmental technology scheme refers to all companies that develop technology which protect and improve the environment. The scheme aims to promote Norwegian environmental technology in national and international markets and is a support scheme for pilot and demonstration facilities in development of new environmental technology.  

Projects that are allocated funding through this scheme are expected to have great potential for commercial development and it is expected that the environmental effect of the work can be documented. Innovation Norway contributes expertise, networks and funding to reduce risks and facilitate the implementation of such demanding development projects.


Investment in traditional agriculture, the purchase of property and additional acreage

Innovation Norway support companies who invest in outbuilding, buy property or are in need of making minor investments in connection with a generational farm. Our financial services help customers with financing if they have a profitable project.  Financing is given towards investments related to installations and associated equipment for traditional agriculture and livestock production.

Farm houses

The financing service offer loans to impliment investment and provide financing to owners of agricultural properties who need new or repaired housing on their farm. 

It can be given loans to the following investments:
• New housing for the owner, retired farmers or employees on the farm.
• Repair of existing housing. This may include additions, remodeling and energy saving measures, adaptation for the elderly and disabled or safeguarding of cultural heritage.
• Purchase of housing on a plot when the purpose is that the property should be linked to agriculture.

Additional trade in agriculture – idé clarification and establishment

Owners of agricultural establishments and businesses associated with agricultural properties who want to start up an additional trade on the farm can receive grants and loans to idé clarification and establishment.

Idéa clarification phase
This phase are naturally included in the clarification and development of the business idea.
Relevant activities may be:
- market research
- preparation of a business plan and
- planning of the establishment and networking.

Establishment phase
This phase includes the development of the service/product until market introduction.
Relevant activities may be:
- concept and product development
- capacity building
- consultancy
- securing intellectual property rights and less physical investments. 

Additional trade in agriculture – company development

The financing services of company development are directed to owners of an agricultural establishment or businesses associated with agricultural properties who want to start up an additional trade on the farm. Smaller food companies that cooperate with primary producers are also included.

Company development includes investments in fixed assets and associated equipment, product development, competence enhancement, networking, market research and marketing new products.

Seafood and fishing

Fishing vessels and fishing quotas

The financial service address companies that are owned by active fishermen. Investments are made to enhance a more diverse and profitable fishing fleet. Funding is provided through loans for more appropriate fishing vessels, equipment, tools and for the purchase of quotas within the existing quota regime to utilize spare capacity on existing or new vessels. 

Agricultural Tourism Programme

The financing service of the program address producers and food companies with the objective to develop, refine and sell quality products based on local ingredients. The aim of the program is to help food and tourism businesses to become more competitive and provide culinary food experiences with local and cultural identity.

The financing service will stimulate company growth, acquiring larger networks and enhance comapnies to become more oriented toward customer needs.

Reindeer program

The aim of the financing service is to strengthen enterprises owned by reindeer owners and help them become more competitive on the marked.  Through binding the cooperation within business networks, the goal is to achieve more value in manufacturing and commercialization for the sale of reindeer meat and by-products from reindeers.

The program is meant to develop the value chain, to stimulate growth in enterprises, and meet the reindeer meat producers' need to strengthen their businesses.

Needs may vary and concern the following:
- food-related challenges (product development, production, food safety)
-business-related issues (management, finances, sales/marketing etc.).

The financial service comes through grants or a combination of grants and loans for innovation and enterprise development.

The three main areas of funding are:
1. Company development
2. Competence measures
3. Corporate position and marketing initiative

Wood-based Innovation Program

Innovation Norway wants to improve the use of wood in Norway and contribute to increased value in enterprises working with the innovative use of wood within the country. The financing service of this sector helps to fund projects and companies with smart solutions for the innovative use of wood.

Our financing service can support all companies working to increase the use of wood within the mechanical wood value chain. We also want to promote the development of wood in the construction industry, both alone and in combination with other materials.

Bioenergy program

Customer segment: Farmers and forest owners
The financing service of the program address farmers and forest owners who works with the production of bioenergy. The main objective is to encourage agricultural and forest users to produce, use and supply bioenergy in the form of fuel or heat.

The program is established to achieve an efficient and future-focused use of bioenergy, with a basis in the resources of farms, agriculture and the countryside. The goal is to help heat companies, forest owners and farmers to gain the opportunity to become local fuel suppliers by using the energy from forests and cultivated lands.

The funding comes through grants for investments, studies and training measures.

Bio refinement program

Innovation Norway want to encourage the development of new production-processes based on renewable and biological raw materials. The program provides funding for the development and optimization of new processes.  Support is offered to enterprises in the early pilot phase, working with the processing of biomass or has a development based on renewable biological raw materials.  

Investment funds in Russia and Eastern Europe

The financing service of the funds are addressed to companies who plan on making an establishment in Russia and Eastern Europe. Investment funds can co-invest on commercial terms in Russia, the CIS (except the Baltic countries) and the Balkans that do not belong to EU with small and medium-sized Norwegian companies with ambitions for international growth.  

The company may receive an injection of capital, risk reduction via co-financing with Innovation Norway, assistance in managing the projects via board participation and access to our skills and networks.

The Investment Fund for Northwest-Russia

Investments in Murmansk and Arkhangelsk regions, the Republic of Karelia and the autonomous area of Nenets. Fund's participation in an individual project is limited to NOK 30 million.

The Consultancy Fund for Northwest-Russia

Investment projects may receive preliminary support for financing feasibility studies prior to commercial investments.

The Investment Fund for Eastern Europe

Countries covered by the former Soviet Union (with exception of the areas in the Barents Region and the Baltic countries), and the Balkan countries that do not belong to the EU. Fund's participation in an individual project is limited to NOK 15 million.

Seed capital

Seed capital is an active fund, which provides equity for small innovative businesses located in an early development phase. The objective is to support the creation of innovative and internationally competitive growth-enterprises to create more growth and competency-based jobs.

Seed funds are private investment companies and managed on a commercial basis. Each fund has an active owner who contributes with extensive expertise, experience and networks.  It is the individual funds that make the assessment of potential companies and evaluates if they will optionally add equity to the enterprises.

SkatteFUNN: Deduction for Research & Development costs

The financing service of the program address companies who have operative costs for research and development in a project that will create value of new ideas. The main purpose behind the initiative of the program is to obtain new knowledge, information or experience that can provide new or improved products, services or production methods.

The program SkatteFUNN may provide up to 20 percent tax deduction on expenditure on R & D work, if the project is approved by the Norwegian Research Council.

The program will:
• Help enterprises to work systematically with R & D.
• Gain awareness of R & D as a strategic tool for tomorrow's businesses.
• Raise Norway in the international competition - both by value and R & D efforts in relation to GDP.
• Motivate the private sector to increase investment in Research and Development.


Industry-oriented subsidy for the Arctic and Russia

The financing service of the program address companies that have a commercial project which targets the Arctic or Russia.  Innovation Norway works on behalf of the Ministry to strengthen business relations with Russia, other Arctic states, Nordic and European countries and other stakeholders with an interest in the Arctic.

The projects must have a commercial purpose and can be implemented in Norway or in cooperation with partners in other countries and international actors with an interest in the northern areas.

Companies can get support in:
• external consultancy support and participation in fairs
• advisory and innovation support services
• training
• research and development.