Learn what Innovation Norway is looking for when choosing grants for startups. How has startup funding changed in Norway since Covid 19? How much is a market clarification grant? How much is a commercialisation grant? What are the main considerations when you apply? How to be more successful when you apply for an Innovation Norway grant?

1. Under Restaurant / Foto: Inger Marie Grini, Bo Bedre Norge
Capital and competence for ambitious startups and scaleups
Innovation Norway

2. Innovation Norway is the policy
instrument of national and
county government authorities
for developing value-creating
business throughout Norway.
Purpose
Under Restaurant / Photo: Inger Marie Grini, Bo Bedre Norge
We’re like an investor, offering financing to
businesses with innovative business ideas and
high potential for growth.
With high risk and market imperfection, we will
allocate funds where needed to start projects.
Our return is future growth and value creation in
Norway

3. So, we are looking for
Business ideas and solutions representing something significantly
new to the market. Ambitions to grow, and a team with
execution power.
We need to see complex development – and thus a rationale for
risk reduction by Innovation Norway; additionality.
Remember:
Innovation Norway do not have any right based schemes.

4. Market clarification grant
Up to NOK 150 000,-*
Commercialisation grant 1
Grant up to NOK 750 000,-*
Own financing 25% of total project
Typical project NOK 1 000 000,-
With NOK 250 000,- in own financing
Startup loan
> Loan: Up to NOK 2 400 000,-
> Requirements: Matching capital (own financing) 25% up to NOK 600 000,- + bail 10% up to NOK 240 000,-
4 year bullet loan. No installments until payback. Interest free first 2.5 years
Typical project NOK 3 000 000,- with NOK 600 000,- in own financing
Commercialisation grant 2
Grant up to NOK 750 000,-*
Own financing 25% of total project
Typical project NOK 1 000 000,-
With NOK 250 000,- in own financing**
Proven market acceptance
Business model
product/market fit Scaling & growth
Value proposition
Problem/solution fit
Runway
Startup loan: MNOK 3
Comm.grants: MNOK 2
Grants + loan: MNOK 5
Stages and financial instruments
*) Up to NOK 750.000,- incl Market clarification
**) Own financing: External capital

5. When applying
Remember why we are here
Be sure to give a brief simple statement of your business idea and ambitions
Project description:
Project description needs to make us understand what you are all about; the background and what you have done – status
in terms of tech and commercial development. Where you are going and how to get there.
1. Background, including solution and status – how are you solving a problem in a new way
What confirmations do you have, from market, partners or investors
2. Main goal, what is to be achieved with this project – what are the key success criteria?
3. Intermediate objectives, what activities needs so be performed, by who and what is required to perform?
Be sure to be open and credible description of your market, the risk and assumtions.
Have someone else read through

6. Capital and competence for commercialisation and growth
Market clarification
Loan: Innovation loan (risk loan)
- Loan for investment projects for development, growth and restructuring
Commercialisation
grant
Startup loan
Grant for innovation contract
- Development project with pilot customer
Growth guarantee
- Access to bank loan by EIF guarantee – making your business bankable
Grant for environmental technology
- Complex commercial development projects with environmental effects
Innovation grant
- Grant for development projects. 2020 only
Competence to add to your success
Innovation and
internationalisation
workshop
IPR
Export
Global accelerators;
- Fundraising for startups
- TINC
- Entrepreneurial marketing
Global presence and market
insight
- 30 offices in 27 countries

7. Photo: brandnorway.no