The increased funding enables a strengthening of the first, uncertain phase when research results are adopted and commercialized. “During this phase the risk for investors is high and a lack of venture capital hinders many, great research results to be converted to innovation for the business community”, says Hallén.
The FORNY2020-program enables innovation and commercialization of research from the public financed research institutes, and will fund selected projects that have a high expected social economic return.
FORNY2020 is an important source of funding for the projects here at BTO, and the eight active applications we have in 2014 will receive approximately 32,6 million NOK. An increase in the governmental funding will therefore create more opportunities for Norwegian entrepreneurs.
Read the article about FORNY2020 funding here (web link) (in Norwegian)