Youth Incubator Grant in Norway

The Norwegian Government offers encouragement to young entrepreneurs

"We must get more young people to establish viable, knowledge-based businesses", says Mrs Erna Solberg, Minister of Local Government and Regional Development. During Junior Achievement-Young Enterprise Norway’s National Company Program Competition, the Minister launched a new grant – called “a Young Incubator Grant” of NOK 1 million.

The grant of NOK 1 million – NOK 100 000 per grant- shall contribute to that young people with ideas for the establishment of new knowledge-based businesses get a satisfactory network and advice as well as financial support at an early stage of the establishment. This is a nationwide grant which is to be administered by Innovation Norway.

Young creative people deserve support in order to realise their potential. “ The Young Incubator Grant shall stimulate academia at universities and university colleges to focus on young people’s needs and challenges so that we manage to achieve more successful new businesses being established by first-time entrepreneurs", the Minister states. Increased financial support, network and counselling are effective to increase the chances of the entrepreneur being successful, something which will help us a society to succeed better.