Funding possibilities for Norwegian companies projects in the Baltics
Many funding sources for internationalisation Norwegian Nordic *Sample in case an international development in Estonia EU/EEA
Norwegian funding
Do you have an innovative and presumably profitable project, difficult to get fully funded? Innovation loan: Provides up to 50 percent of capital in a project Favorable interest rates considering the risks www.innovasjonnorge.no/finansiering/innovasjonslan
Do you need help with major investments? Low risk loan: Long term loan Competitive interest rate Often given in cooperation with private banks www.innovasjonnorge.no/finansiering/lavrisikolan/
Develop innovative new products, solutions, services in cooperation with demanding customers? Research and development grants: A demanding private sector customer in abroad IFU A demanding public sector customer in Norway OFU Cover upto 45% of development costs http://www.innovasjonnorge.no/finansiering/ifuofu/
An innovative business or a project in an early stage of development? Start-up grant: Covers 50% of eligible costs The average allocation is 200,000-400,000 NOK Not granted to companies older than 3 years www.innovasjonnorge.no/finansiering/etablerertilskudd
Develop cooperation with other companies? Norwegian SMEs as main participants An established network that wants to develop the strategic cooperation At a minimum 3 companies Foreign companies and research and development players can participate A network with international and longterm potential Large companies can be with the network Horizontal and vertical networks
Pre-study: Grant 100% of external costs Upto 100,000 NOK Ca 3 monthes Pre-project: Grant 50% of costs Upto 300,000 NOK Ca 3-9 monthes Pre-studies Collecting market information Analyzing hired assistance Process management Meetings External tasks specialist services
Main project: Grant 50% of costs. Up to 750,000 NOK Up to 3 years Process management - development and administration Technology and market advisory Competence development meeting places Legal assistance agreements Own financing own hours and means www.innovasjonnorge.no/bygg-en-bedrift/klynger-ogbedriftsnettverk/bedriftsnettverk/
Other funding available for international projects in Norway: Research Council InvestinNor GIEK
Nordic funding
Have projects in Nordic or Baltic countries? Nordic Environment Finance Corporation: Equity for environment improving investments www.nefco.org/financing/financing_instruments Nordic Investment Bank: Loans www.nib.int/loans Nordic Innovation: Grants for innovative co-operation projects At a minimum partners from three Nordic countries www.nordicinnovation.org/about_funding/ Nordic Council of Ministers: Grants for Nordic-Baltic specialists internships At a minimum partners from three Nordic Baltic countries www.norden.org/en/nordic-council-of-ministers/the-secretariat-to-the-nordiccouncil-of-ministers/nordic-council-of-ministers-information-offices-in-the-balticstates-and-russia/the-nordic-council-of-ministers-office-in-latvia/the-nordic-balticmobility-and-network-programme-for-business-and-industry
European Union and European Economic Area funding
Research or eco-innovation with companies from EU? EU funding available for Norwegian companies: Research http://www.innovasjonnorge.no/bedrift-i- EU/EU-finansiering1/EU-penger-til-norske-bedriftermed-forskningsutfordringer/ Research http://www.innovasjonnorge.no/bedrift-i- EU/EU-finansiering1/Eurostars---forskningsmidler-tilbedrifter/ Eco-Innovation http://www.innovasjonnorge.no/bedrift-i-eu/eufinansiering1/eco-innovation/
Develop green business with companies from the Baltics? Norway Grants Green Industry Innovation program: Companies from Estonia, Latvia or Lithuania can apply Projects with Norwegian partners have a priority Estonia focus green ICT www.eas.ee/greenit Latvia green business and green incubator http://em.gov.lv/em/2nd/?cat=30793 Lithuania green business http://www.ukmin.lt/web/en/innovations/internationa l_cooperation/green_industry_innovation_programme _nor_financial_mechanism
Develop business in Estonia? Enterprise Estonia grants: Startup, development www.eas.ee/en/for-theentrepreneur/starting/start-up-grant/general-information, www.eas.ee/en/for-the-entrepreneur/starting/developmentgrant/general-information Development of knowledge and skills www.eas.ee/en/for-theentrepreneur/development-of-the-company/development-of-knowledgeand-skills Large investor's support for industrial undertakings www.eas.ee/en/forthe-entrepreneur/development-of-the-company/large-investors-supportfor-industrial-undertakings Investment support for support service centres www.eas.ee/en/for-theentrepreneur/development-of-the-company/investment-support-forsupport-service-centres Innovation voucher grant www.eas.ee/en/for-theentrepreneur/innovation/innovation-voucher
Develop business in Estonia? Estonian Credit and Export Guarantee Fund, Kredex Loans, guarantees, grants www.kredex.ee/loan-and-guarantee Environmental Investment Centre, KIK Grants, loans, guarantees www.kik.ee/en/kik/sources-financing Estonian Agricultural Registers and Information Board, PRIA Grants www.pria.ee/en/support/list/2 Development Fund, Arengufond Venture capital www.arengufond.ee/eng/vc/principles Tallinn City Enterprise Board, Support for creating new jobs, fair participation and co-financing of
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