Through the Innovation contracts, Innovation Norway offers a support program that makes grants available to Norwegian SMEs developing new products or services in collaboration with foreign or other Norwegian companies. The program may cover up to 45% of the development costs incurred by the Norwegian SMEs.
The grant is available to Norwegian SMEs having the skills and knowledge to develop the products or services the foreign or other Norwegian companies needs but are not available in the market.
The benefits of the projects for foreign companies collaborating in Innovation contract with Norwegian SMEs are two-fold:
- Significant reduction of project cost and financial risk.
- Opportunity to collaborate with Norwegian SMEs with unique skills and knowledge in the relevant product area.
In order to qualify as a customer in an Innovation contract, you should be a demanding and collaborating customer that takes part in the process by providing details of requirements and testing the result. The collaborating customer´s efforts in the project in terms of workload and funding should be at least 20% of total eligible project costs.