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Growth entrepreneurship - Norway
 

Growth entrepreneurship - Norway

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    Growth entrepreneurship - Norway Growth entrepreneurship - Norway Presentation Transcript

    • High-growth companiesThe Norwegian experience
    • Geographical bias in NorwayHigh-growth companies in and around the major citiesMinistry of Trade and Industry: better financing for growthMinistry of regional development: more financing, competence and network for the less urban areasMinistry of finance: Expensive to fund early stage, market failure more difficult to prove in urban areas 3
    • Norway: 3% of companies, 60% of the growth UK: 6% of companies, 50% of the growth 4
    • Accelleration in NorwayStill young and developingSome challenges- Few private investors- Little venture capital- Hardly any (no) seed capital- IT cluster in Oslo, but fragmented- Strong government- and investor focus on oil and gas Most high-growth companies- Entrepreneurship not «cool» are in IT and oil & gas 7
    • Accellerators and good helpers 8
    • More good helpersConnect Norway StartupNorway:• mentor service• spring board process Start-up week-end• meeting arenas between Started 2010 entrepreneur and investor • Oslo, Trondheim, Bergen and StavangerSilicon Vikings Startup summerHub for connections Startup beers and open coffees• professionals in technology Oslo Health Challenge• entrepreneurs Nordic startupawards• the Silicon Valley industry• academia Soundrop (Northzone juni 3m dollar) GrunderTV 9
    • New financing facility for early-stage, grantsProposed to Ministry of Trade and IndustryGrant facility 250 mNOK for very early stage companiesUp to 500 000 per company, paid out in stagesExternal panels recommend financing, IN acts quickly to make financing decisionResponse to:• Slow procedures in IN• Lack of competence in IN within certain business areas• Lack of funding early stage• Initial demand for a pollen fund 10
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