Innovation Norway Really Works

Trade and Industry Minister, Trond Giske announced the results of the evaluation report on the Innovation Norway. The Ministry of Trade and Industry has taken the initiative and Econ Pöyry conducted the survey in cooperation with the Agenda Study & Development AS and Damvad.

The report reveals that there is a need for increased knowledge about the effects of public tourism investment and Innovation Norway needs further studies in these areas.

– I noted the views in the evaluation. We have already started efforts to study the tourism initiative and will also follow up the recommendation , “said Giske.

– It is now six years since the establishment of Innovation Norway, and it was therefore time to look at how Innovation Norway has solved the problems. The evaluation shows that it is possible to achieve goals, “added Giske.

A very important player in regional industrial development in Norway.

Local Government and Regional Development Minister Liv Signe noted the evaluation shows that Innovation Norway contributes to increased value creation in businesses in the country.

-Evaluation tells us about a positive development in the organization, and we see that innovation rate increases. This suggests that we are on the right track. I will use this evaluation to get even better results and effects of regional policy instruments, “said Signe.

Facts about Innovation Norway:

• Innovation Norway was established on 1 January 2004 by a merger of the Norwegian Industrial and Regional Development Fund (SND), the Norwegian Trade Council, the Norwegian Tourist Board and the Government Office for the supervisor inventors.

• The purpose of Innovation Norway is to promote nationwide industrial development profitable to both the business economy and Norway's national economy, and help release the potential of different districts and regions by contributing towards innovation, internationalisation and promotion. It also aims to foster regional development and promote Norwegian industry and Norway as a tourist destination.

• Innovation Norway is organized as a special company that is owned by the state and counties jointly with 51 percent ownership of the State of Trade and Industry Ministry and 49 percent ownership of the counties.

• The new state owned company employs more than 700 people and has offices in all the Norwegian counties and in more than 30 countries world wide. The head office is located in Oslo.

• In 2009 Innovation Norway allocated 9.8 billion in committed financing.

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