Press release

No.: 40/05
Date: 9 August 2005

The Norwegian Government grants additional funding to Young Enterprise Norway

The Norwegian Ministry of Trade and Industry supports Young Enterprise Norway with an additional funding of 2 million NOK. The grant was announced at the official opening of the 16 ^th> European Company of the Year Competition in Oslo.

- I am pleased that the largest European network in the field of enterprise and entrepreneurship in education chose to arrange the competition in Oslo. I believe that entrepreneurship both can and should be learned. It is important to inspire young people to engage in entrepreneurship, says Minister of Trade and Industry, Børge Brende.

Last year the Norwegian Government launched a national strategy for entrepreneurship in education. The ambition is to make the Norwegian educational system among the world’s best systems in education and training. The plan addresses the entire educational system from primary school to college and university, as well as teacher training. In this strategy the Government puts forward several new initiatives designed to promote education and training for entrepreneurship. The objective is to strengthen students’ knowledge, skills, attitudes and ambitions regarding entrepreneurship.

- Young Enterprise Norway is an important partner for the Norwegian Government as they put into action many of the measures that have been outlined in our strategy. I hope this extra funding will enable Young Enterprise Norway to further develop their important work, says Minister of Trade and Industry, Børge Brende.

A recent Norwegian evaluation of student companies in upper secondary school shows that young people who have participated in student companies are twice as likely to start up their own business than the general population.

- We already see the fruits of Young Enterprise Norway’s work and we look forward to further cooperation with them in the future, concludes Minister of Trade and Industry Børge Brende.