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.