National Grants and Funding Agencies
Innovation Norway (Innovasjon Norge) – Norway’s National Innovation Agency
innovasjonnorge.no
Main government instrument for supporting startups. In 2025, the agency continues to provide phased Oppstartstilskudd (startup grants), innovation contracts, and access to EU programs.

Startup Grant Phase 1 (Oppstartstilskudd 1 – Market Clarification)
  • Up to NOK 150,000 (not 200k as sometimes stated).
  • Covers 100% of costs for validating customer demand, market research, and initial concept testing.
  • Typical duration: 3–4 months.
  • Administered regionally; availability depends on county budgets.

Startup Grant Phase 2 (Oppstartstilskudd 2 – Commercialization)
  • Up to NOK 1 million, disbursed in two tranches.
  • Requires 50% co-financing from private capital or investors.
  • Used for prototype development, pilot customers, and establishing business models.

Startup Grant Phase 3 (Oppstartstilskudd 3 – Scale/Commercialization)
  • Introduced as a follow-on scheme.
  • Provides up to NOK 2 million (loan or grant).
  • For startups ready for market entry and organizational scaling.

Innovation Contracts (Innovasjonskontrakter, formerly IFU/OFU)
  • Co-financing when a startup develops a solution for a demanding customer.
  • Budgets often several million NOK, with strong export potential required.

EU & International Programs
  • Support for Horizon Europe, Eurostars, Eureka.
  • Innovation Norway assists with applications and co-financing.

Website: innovasjonnorge.no
Research Council of Norway (Forskningsrådet) forskningsradet.no
Key source of R&D and commercialization grants.
  • Innovation Projects for Industry: Covers 40–50% of project budgets for research-driven innovation (2–3 years).
  • FORNY Commercialization Grants: For research-based startups, helps verify technology and market potential.
  • Eurostars / Horizon Europe: Co-financing for international R&D collaborations.
  • Administers SkatteFUNN tax scheme (see below).
Website: forskningsradet.no
Enova – Climate & Energy Innovation
enova.no
Owned by the Ministry of Climate and Environment. Focuses on low-emission solutions.
  • Pilot & Demonstration Grants: Covers typically 25–50% of project costs for TRL 5+ technologies.
  • Target areas: offshore wind, green shipping, battery & storage, industrial decarbonization.
  • Requires committed partners for real-world pilots.
  • Large projects may receive tens of millions of NOK.
Website: enova.no
Norad / Norfund – Development-linked Programs
norad.no, norfund.no
  • Norad Challenge Funds: Co-finance innovative projects in developing countries (typically 50%).
  • Norfund: State-owned investment fund; invests equity in companies in Africa, Asia, Latin America. Also runs Business Support Facility (technical assistance grants).
Websites: norad.no, norfund.no
Loans and Public Venture Capital
Innovation Norway Loans & Guarantees
  • Startup Loan (Oppstartslån): Up to 1–2 million NOK. Covers up to 50% of project costs. Usually limited personal guarantee; some loans have removed guarantee requirements since 2023.
  • Innovation Loan (Innovasjonslån): Larger loans (up to ~NOK 25 million). Long repayment terms, grace periods, up to 15 years.
  • Growth Guarantee (Vekstgaranti): State guarantees cover up to 75% of a bank loan for innovative SMEs.
Investinor – State Venture Capital
investinor.no
  • Government-owned VC fund (~NOK 6 billion).
  • Ticket size: typically NOK 5–30 million.
  • Always co-invests with private investors, taking minority stakes.
  • Focus: ICT, green tech, health, aquaculture. Operates a Northern Norway co-investment fund.
Website: investinor.no
Argentum – Fund-of-Funds
argentum.no
  • State-owned asset manager investing in private equity/VC funds.
  • Portfolio: 247 funds, 1,400+ companies; 57 are Norwegian funds.
  • Helps anchor new funds and attract international capital.
Website: argentum.no
Nysnø Klimainvesteringer (Climate Investment Fund)
nysnoinvest.no
  • Established 2017, government climate tech investor.
  • Invests in startups, scale-ups, and funds addressing GHG reductions.
  • Ticket sizes range from NOK 20–50 million.
  • Co-invests with private VCs; portfolio includes battery, EV, and carbon-reduction tech.
  • Assets under management (2024): ~NOK 5.4 billion.
Website: nysnoinvest.no
SIVA – Infrastructure & Incubators
siva.no
  • Government enterprise funding 35+ incubators and business gardens.
  • Provides grants to incubators, which in turn support startups with micro-grants, mentoring, subsidized space.
  • Also co-founded regional seed funds and builds innovation centers.
Website: siva.no
Nopef (Nordic Project Fund)
nopef.com
  • Interest-free loans up to EUR 50,000, covering 50% of feasibility costs.
  • Converted to grant if project implemented.
  • Must be Nordic SME (<250 employees, <€50M turnover).
Website: nopef.com
Eksfin (Export Finance Norway)
eksfin.no
  • Government export credit agency, created 2021.
  • Export loans: direct loans to foreign buyers of Norwegian solutions.
  • Guarantees: covers 50–80% of bank loans for exporters, including SMEs.
  • Available to companies of all sizes, with emphasis on green exports.
Website: eksfin.no
Tax Incentives
SkatteFUNN R&D Tax Credit

  • Refund of 19% of eligible R&D costs (cash if no profit).
  • Cap: NOK 25M internal + 50M external R&D per year.
  • Requires project approval by Research Council.

Investor Deduction (Investeringsfradrag)

  • Individuals may deduct 22% of investments up to NOK 1M/year from taxable income.
  • Conditions: company <6 years old, <25 employees, <NOK 40M turnover.
  • Shares must be held at least 3 years.

Qualified Employee Stock Options

  • Major expansion effective 13 March 2025.
  • Eligibility: companies <12 years, ≤150 employees, ≤NOK 80M turnover.
  • No tax at exercise; gains taxed as capital income on sale.
  • Employer avoids social security tax on benefit.

Standard Deduction for Foreign Workers

  • 10% of gross salary (max NOK 40k/year) for first 2 years of tax residency.
  • Aimed at easing entry for skilled foreign employees.
Regional and Municipal Programs
District Incentives (Distriktstøtte):

  • Reduced employer payroll tax in Northern Norway.
  • Extra grant allocations from Innovation Norway to rural municipalities and student entrepreneurs.

County Development Funds:

  • Counties receive state funds to support local incubators, competence programs, and innovation clusters.
  • Direct grants to startups are rare but possible in restructuring (“omstillings”) areas.

Municipal Agencies & Incubators:

  • Oslo Business Region, Business Region Bergen, Invest in Rogaland, Trondheim Tech Port – provide business guidance, networking, and internationalization help.
  • Local competitions: cash prizes (NOK 50k–200k) for startup pitch winners.
  • Research Council Innovation Award (national) provides NOK 500k annually.