Oslo Business Region’s Post

Kjetil Holmefjord is out with his annual review of the Norwegian investment climate, as always a good overview of the state of Norwegian tech! 3 key insights I would like to highlight: 💡 Decline in funding rounds: Funding rounds have decreased by 25% compared to 2023, bringing activity back to 2020 levels. While the pandemic created a fix reality, I believe that this drop is concerning. Given the ecosystem's maturity and the growing number of scaling companies, we should aim to maintain higher levels of activity than in 2020. 💡 Investor selectivity and diversity: On a positive note, the number of active investors per round is slightly increasing. This indicates that investors are becoming more selective about the startups they back. However, it’s crucial to ensure this selectivity fosters greater diversity by opening opportunities for a broader pool of startups. 💡 Concentration of investments in Oslo: Oslo startups account for 62% of all investments. While it’s not surprising that the capital city attracts the largest share, it’s essential to sustain and grow investment activity in other key hubs like Bergen, Trondheim, and Stavanger to support regional innovation. Link to his newsletter in the comments for more info. Oslo Business Region

Corporate engagement with startups isn't always easy but will help accelerate their transition. Corporates are increasingly needing to have specific and tangible action plans regarding their climate and decarbonisation plans in light of regulatory and disclosure requirements as well as pressure from customers, investors and employees. Corporates worldwide have turned to partnerships with startups to accelerate their climate strategies. Here’s why this collaborative approach can create the right outcomes: 1️⃣ Decarbonising Operations: partnering with startups allows corporates to tap into technologies and innovative solutions that can significantly reduce carbon footprints across their operations often in ways that can also drive cost savings. 2️⃣ New Decarbonised Products: by collaborating with startups, corporates can co-create and launch new products and services that are inherently sustainable. This not only meets growing demand for eco-friendly choices but also creates new revenue streams and markets. 3️⃣ Future-proofing Business: climate change is reshaping industries and consumer behaviour. Businesses that integrate sustainability into their core strategies now are better positioned to thrive in the future. Partnering with startups ensures preparation and access to the latest innovations to stay ahead of the curve. Working with specialised venture capital firms has been a very successful model globally with examples such as utilities, transport and property companies partnering with Energy Impact Partners Shift4Good and Taronga Ventures Ventures respectively. These firms help bridge the gap between corporates and startups, fostering collaborations that drive impactful change. Their proven track record in accelerating sustainable innovation shows that this model can indeed be replicated more broadly in Australia. Australia has a tremendous opportunity leverage this model to become a Green Superpower by fostering collaboration between established corporations, leveraging the country's unique competitive advantages such as abundant renewable and mineral resources along with the growing climate tech ecosystem. Existing and recent government policies and institutions such as National Reconstruction Fund Corporation, Australian Renewable Energy Agency (ARENA) and Clean Energy Finance Corporation are accelerating this momentum. What are your thoughts? How can Australian corporations best leverage climate tech startups to achieve their sustainability goals? Let's discuss in the comments! #climatetech #sustainability #corporatesocialresponsibility #innovation #australia #climateaction

Exciting times in Lisbon's tech scene! 🚀🇵🇹 After recent meetings with Portuguese investment firms, it's clear there's a wave of optimism throughout the ecosystem. Here's what is fuelling the buzz: 📈 European VC investment is surging, with early-stage funding up 38% in 2024 (Sifted) 🦄 The first half of 2024 has already seen more unicorns created in Europe than the whole of 2023  🌟 Lisbon has become a leading tech hub, attracting global talent and investors with its unique blend of engineering excellence, quality of life, and strategic location Growth-stage companies in Portugal leverage the strong local engineering talent and often seek international senior leadership to achieve their ambitious growth goals. A borderless approach to recruitment is key to unlocking this international growth. 🌍 Learn more about Lisbon's thriving tech scene: https://lnkd.in/dStkygsy Are you part of this exciting ecosystem? Let's connect and share insights! 🤝 #Lisbon #VentureCapital #TalentAcquisition #Portugal #Leadership #Technology

Newest VER blog discusses “Innovations in Europe”. Clearly more innovations are made in the United States than in Europe. As it is, US technological giants lead the tech race, the venture capital market is stronger and tech IPOs take place in the United States. From the standpoint of an institutional investor, European innovations have not for a long time been as attractive investments as in the United States. According to the latest statistics, European venture capital funds have outperformed US funds over the past 10 years, returning over 20 percent per annum according to Invest Europe assocation. This fact can be used to create a roadmap for to increase the attractiveness of European growth companies from institutional investor perspective at the various stages of development. A pre-condition for a sound market is a multi-tiered, highly functional capital market infrastructure. Innovation market infrastructure is a chain of layers which consist of stock exchange and equity market, benchmark indices and investment products by which investors are attracted to invest. The good investment returns are the solid basis for interest. Link to newest VER blog “Innovations in Europe”: https://lnkd.in/dgCkzU5T)

🇨🇭Switzerland is emerging as a leading tech startup hub in Europe, thanks to its strategic initiatives and robust ecosystem 🚀 🔬The country boasts world-class research institutions, such as ETH Zurich and EPFL, which foster innovation and produce top-tier talent. 💼 A favorable regulatory environment, coupled with substantial government support, creates an attractive landscape for entrepreneurs. 🌍 Additionally, Switzerland's central location in Europe and its strong infrastructure facilitate seamless connectivity and business operations. More in the article below…

𝐖𝐡𝐚𝐭'𝐬 𝐭𝐡𝐞 𝐌𝐚𝐣𝐨𝐫 𝐏𝐫𝐨𝐛𝐥𝐞𝐦 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐃𝐞𝐞𝐩 𝐓𝐞𝐜𝐡? Deep Tech companies, characterized by pioneering solutions based on groundbreaking scientific discoveries, require substantial investment and extended development timelines. A key feature is their high barrier to entry, creating a defensible "moat" for established players and making it difficult for competitors to replicate their success. Europe has historically been strong in this area. However, recent reports, such as those from McKinsey, outline a critical problem in the European Deep Tech landscape: 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐈𝐦𝐛𝐚𝐥𝐚𝐧𝐜𝐞: In the early stages of development, European Deep Tech companies primarily rely on European funding sources, including government grants and local investors. McKinsey highlights that only 10% of early-stage capital comes from non-European investors, which means that European public funds bear most of the high-risk investments (absorbing the high failure rates typical in early stages) As these companies mature and the risks decrease, non-European investors become more involved. At the growth stage, 40% of the capital comes from outside Europe, and 60% of the acquirers of these companies are non-European. This means that as these companies become successful and profitable ("the cherries"), a significant portion of the benefits, including economic growth and job creation, is reaped by other regions. (McKinsey Report p17) 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐄𝐦𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧: When European Deep Tech companies are acquired by non-European corporations, they often relocate their operations. This relocation leads to a loss of high-quality jobs and a drain of talent and expertise from Europe to other tech hubs like Silicon Valley, Boston, Dubai, or Singapore. The local economies lose out on the associated taxes and contributions to the welfare system. Moreover, the talent and innovation potential that these companies represent are also transferred abroad, further exacerbating the innovation gap between Europe and other regions. 𝐑𝐞𝐜𝐨𝐦𝐦𝐞𝐧𝐝𝐚𝐭𝐢𝐨𝐧𝐬: To address these challenges, Europe needs to bolster its investment ecosystem, particularly for growth-stage Deep Tech ventures. This can be achieved by encouraging more European venture capital firms to invest in these stages and by motivating European corporations to take a more active role in supporting and acquiring local Deep Tech startups. Simplifying bureaucratic processes and increasing the risk appetite of European investors are also crucial steps to ensure that Europe can retain and benefit from its Deep Tech innovations. In summary, while Europe has a strong foundation in Deep Tech, there is a critical need for better investment strategies and support systems to ensure that the region can fully capitalize on its innovations and retain the associated economic and societal benefits. #deeptech #investing #venturecapital #entrepreneurship

For tech founders Reuben Lai and Jefferson Lanjie Chen, Singapore’s talent-friendly policies, flourishing startup ecosystem and world-class living standards make it a winning location to grow their global operations. #ClimaTech startup Arkadiah Technology is supporting nature restoration across Southeast Asia by developing proprietary nature-tech solutions in-house and collaborating with local research institutes. Its interdisciplinary, multinational Singapore-based team combines expertise in ecology, geospatial tech, and finance to tackle the global challenge of ineffective carbon accounting. At Advance Intelligence Group, over a fifth of the AI-driven tech company’s global workforce is based here. Its HQ has grown significantly – operations and product development are led by senior leadership here, while young, entrepreneurial local talent play key roles in scaling the Group’s #FinTech ventures. Find out more about how these founders are making the best of Singapore’s diverse and skilled #talent pool to achieve rapid growth: https://lnkd.in/d6pbTwsF

Power of a community & the voice of an eco-system. 💪 This week, an important event took place in Oslo. NAST (Norwegian Alliance for Startups & Tech) was launched at Mesh Community with Anders Mjåset & Per Einar Dybvik. 👉 The goal is for Technology to be the 5th largest export industry in Norway by 2030. To reach this, the framework for businesses and governmental trust needs to be aligned with increased globalization and competition. Key success criterias; 💡 Tax - Competitive exit, option, wealth & employer tax as well as incentives for early stage investors. 💡 Talent - Attract talent with visa's and STEM education. 💡 Capital - LP mandates, allowing Government Pension Fund & Folketrygdfondet to allocate 3-5% into unlisted shares. 💡 Automated & effective policy instruments & the state as a buyer. It all starts with people and a good idea. Let us make sure the businesses of tomorrow have all the tools they need to succeed. 🚀 #nast #startups #Innovation #oxidaneventure

I penned this on Monday for TIA. Malaysia wants to net tech investments. There are good things about the country, and a real hunger to strike it big here. But we are rehashing old ideas. If anything, we seem to be happy with being the pick-me of Southeast Asia. That's an old narrative. And what's lost in all this is the good work of Malaysia-based investors and startups in the trenches, whom we should always spotlight on the main stage, as opposed to just footnoting them to a breakout session or some panel no one would bother attending. And, please, we are not the "sleeping giant" or "Silicon Valley" of anything. https://lnkd.in/g2pDxuMP

𝐖𝐡𝐲 𝐉𝐨𝐢𝐧 𝐔𝐩𝐭𝐚𝐤𝐞 𝐀𝐥𝐥𝐢𝐚𝐧𝐜𝐞? 𝐃𝐢𝐬𝐜𝐨𝐯𝐞𝐫 𝐖𝐡𝐚𝐭 𝐒𝐞𝐭𝐬 𝐔𝐬 𝐀𝐩𝐚𝐫𝐭 𝐢𝐧 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐓𝐞𝐜𝐡 🌱 Uptake Alliance is dedicated to driving climate tech innovation across New York State by connecting regional ecosystems with global partnership opportunities. We understand the unique needs of local corporations, startups, and stakeholders, ensuring the most promising collaborations thrive. 𝐖𝐡𝐚𝐭 𝐌𝐚𝐤𝐞𝐬 𝐔𝐩𝐭𝐚𝐤𝐞 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭? 1️⃣ 𝐓𝐚𝐫𝐠𝐞𝐭𝐞𝐝 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐒𝐞𝐥𝐞𝐜𝐭𝐢𝐨𝐧 We choose startups based on their ability to address specific problem statements from our corporate partners. This targeted approach ensures meaningful engagement and real-world impact. 2️⃣ 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩𝐬 Uptake collaborates with key ecosystem partners to achieve defined adoption milestones, ensuring that startups have the support they need to succeed. 3️⃣ 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐒𝐮𝐩𝐩𝐨𝐫𝐭 Our highly tailored, opportunity-specific support complements the entrepreneurial training startups receive from their ecosystem partners, enhancing their chances of commercialization. By integrating Uptake's market pull-based initiatives with New York State's technology push-oriented support programs, we help accelerators, mentors, and investors achieve higher startup commercialization rates. Join Uptake Alliance and be part of a transformative journey in climate tech innovation! Ready to make a difference? Connect with us today by visiting our website at https://lnkd.in/eaxHBHzM #ClimateTech #Innovation #Sustainability #UptakeAlliance NYSERDA ADL Ventures Rhizome Rensair US Banyan Infrastructure Voltpost Hub Controls itselectric H2Ok Innovations Icarus RT, Inc. Ampaire ecoSPEARS Edgecom Energy Kelvin Symbium INOVUES Feedback Solutions Inc.