Are you a budding entrepreneur looking for advice?
At Biotech North, we are happy to help. Contact us to set up a consultation, and in the meantime have a look at our 9 tips for startup companies below.
Gründerhjelpa is a service provided by the Tromsø municipality for entrepreneurs that need help evaluating their business idea and guidance in establishing a company.
Read more about this service
- Entrepreneur phone – Innovation Norway’s Entrepreneur Phone is available for entrepreneurs to discuss their idea. Tel: (+47)800 50 789 Opening hours: 09.00 – 15.00 (Mon – Fri)About the phone service (in Norwegian only)
- Start-up grants – Promising start-ups with growth ambitions are eligible to apply for a start-up grant from Innovation Norway. The goal with this financial aid is to stimulate establishment of new enterprises, and the grants need to cover specified activities. About start-up grants.
- Mentoring Service –This service offers strategic mentors to general managers of start-up enterprises. The objective of the service is to contribute to increased survival and growth among start-up enterprises.
- Business Model –What is your business model? Business Model Canvas will help you to understand and present your business model in an easy and effective way
- Learn to pitch your idea – One of the most important things you need to learn as an entrepreneur, especially in a start-up, is to present your idea in a short but powerful way. Here are some basic instructions on how to prepare a pitch
- Protect your Intellectual Property Rights – Innovation Norway’s IPR (Intellectual Property Rights) Advisory Team assists Norwegian companies in navigating the IPR landscape, and give advice on issues concerning copyright, patents and industrial design rights.
Norinnova Business Incubator and Pre-Incubator are designed for entrepreneurs with innovative, technology-based ideas who need guidance in setting up their company based on experience, networks, and capital. The incubator provides start-up companies with office space and facilities, and helps with business modelling, market knowledge, relevant networks and investor identification. They can also help you to access Pre-seed capital, a new capital instrument from Innovation Norway available to companies younger than 5 years old. More information about incubation services can be found here,
Crowdfunding is a modern way to raise funding online from an expanding network of international investors. This is usually performed on internet-mediated registries, but can also be executed through mail-order subscriptions, benefit events, and other methods. Some popular crowdfunding platforms are:
Angel Investors (also known as a business angel, informal investor, angel funder, private investor, or seed investor) is an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity in the business. There are angel investors in Norway looking for exciting projects to invest in. Some of them have joined together as:
You can also check various forums where other investors are looking for potential investments. Examples of such forums in Norway:
Connect Springboard from Connect Nord Norge is a meeting venue where entrepreneurs receive feedback from a multidisciplinary panel on how they can best develop their business strategy, improve their business plan and prepare their company for meetings with investors and strategic partners.
The panel is adapted to the needs of the entrepreneur and consists of experts in the field (i.e. lawyers, patent experts, investors and individuals with knowledge of the relevant market). Read more about Springboards (in Norwegian only).
DNB provides free counseling in regard to the financing of your company. Read more here (in Norwegian only).
If you become a Biotech North member, you will have access to the free services of our Funding Application Support Group. This group consists of around 10 professionals with extensive experience in applying for government grants, both within Norway and in the EU. Cluster members can contact us if they need advice on where to find funding applications, need help getting started on an application, are stuck on a particular area, or would like us to review the finished product. And don’t worry – all of the information in your application is kept strictly confidential.