3.9 Start-up funding for young entrepreneurs
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Access to information
Public information about funding opportunities, programmes and service providers and professional guidance is predominantly offered through
Innovation Norway [Innovasjon Norge], a state-owned Norwegian special law company that works specifically to help entrepreneurs, growth companies and business environments to succeed in future-oriented business activities.
Altinn, an online portal for businesses, private individuals and public agencies. The portal has a lot of useful information for those who wish to establish and run businesses in Norway, sThese pages also contains a list of various business support schemes.
Access to capital
Innovation Norway offers grants for the development of innovative, market-oriented business ideas. These include grants for market clarification and grants for commercialization. The company also offers innovation loans and start-up loans. These schemes do not target young people exclusively. However, to stimulate increased recruitment in agriculture, Innovation Norway has a separate scheme for young farmers who want to make smaller investments to maintain and develop operations.
The Labour and Welfare Administration (NAV) has a support scheme that allows for people who are already receiving unemployemnt benefits to continue receiving benefits while establishing their own business. To be considered for the scheme applicants must meet certain requirements, including providing a professional assessment of the business plan by a body that NAV has approved.