Norwegian economy faces challenges as oil and gas production declines
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The Norwegian economy is at a crossroads as oil and gas production and prices decline. Innovation Norway is working to help reorient the petroleum/maritime cluster towards new activities by leveraging the competencies in those industries for other sectors. While Norway is often seen as a "moderate innovator," Innovation Norway's studies show that innovation spending and activities are underreported and Norway innovates more than metrics capture. Standards can help companies internationally by providing a common language and reducing risks and costs, but innovation ultimately depends on people.
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Norwegian economy faces challenges as oil and gas production declines
- 1. The Norwegian economy at a crossroads April 14 th 2015 ISO/TC 270 Innovation Management Mona Skaret Innovation Norway Foto: Terje Rakke/Nordic life - Visitnorway.com
- 2. A standard for innovation Oxymoron or best practice
- 4. In 35 countries all over the world…
- 5. … and where the norwegian clusters and companies are • Profiling • Competence • Finansing • Advisory services • Cluster
- 6. Our strategic focus areas More succesful entrepreneurs 1 More enterprises with capacity for growth 2 More innovative business clusters 3 More born globals with high growth potential More international growth companies Innovative, dynamic and internationally oriented clusters More innovative companies More cooperation oriented companiesMore viable start-ups Increased productivity and profitability in companies Innovative regions with capacity for growth 1a 1b 2a 2b 2c 3a 3b 3c More attractive to be an entrepreneur 1c
- 7. OVERALL CUSTOMER EFFECTS Enterprises that have been granted support from Innovation Norway experience 9.7 percentage points higher growth in annual turnover for three years following the year in which they received support from Innovation Norway, compared with similar enterprises that received no such support.Enterprises not supported by Innovation Norway Enterprises supported by Innovation Norway HIGHER GROWTH IN TURNOVER Annual growth Source: Statistics Norway / Innovation Norway
- 8. Effects entrepreneurs and startups Figures from Statistics Norway show that Innovation Norway have a positive effect on the turnover and survival rate • Higher growth in turnover 21 percentage points higher growth in annual turnover compared to similar start-ups • Higher survival rate (se right) 72% of IN-supported enterprises remain active five years after inception. 67% of similar starts-ups
- 9. Marcela Barsse The Norwegian economy at a crossroads
- 13. cassinga
- 14. We now have to face a major challenge • Oil and gas production is falling • Oil and gas prices are falling • We need to reorient the petroleum/maritime cluster towards new activities • The competences found in that cluster are relevant to other activities, but the transformation period may be traumatic. • This is what we are working on right now!
- 15. - The dream commitment
- 16. We will make it Why?
- 17. The story behind Innovation Norway
- 18. n bark Friedig at sea under reduced sail From wood and sails..
- 19. Bergen 1925 .. to steel and steam
- 20. iStock .. to oil and gas
- 21. We will make it 1 We have done it before 2 We are better at innovation than we think
- 22. Norway as a ”moderate innovator” European Innovation Scoreboard/Innovation Union Scoreboard No. 17
- 24. Nightman1965 thinkstock Innovation Problem: Innovation is reduced to R&D.
- 25. Typical Norwegian “low tech” industry. This activity is not included in the Innovation Union Scoreboard. Statoil Subsea Factory (TM) / courtesy of Statoil
- 26. 2010: Reported 100 mill NOK for innovation 2011: Revised to 2.5 billion NOKtelenor Telenor in-house innovation study w/UiO
- 27. Separate surveys Statistics Norway’s new innovation survey Product innovation Process innovation Organizational innovation Market innovation Percentage of company population
- 29. Standards are important tools 31 • Same language and understanding across borders • SMEs save resources: Time Money • Reduce risk of international activity • Benchmarking for SME
- 30. But - It’s all about people
- 32. Mona Skaret E-post: moska@innnovasjonnorge.no Twitter: @monaskaret Let’s work together!