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Venture Capital Policy Review: Norway

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  • Günseli Baygan
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    Abstract

    The Norwegian venture capital market is oriented towards expansion investments in traditional sectors and suffers from a lack of private risk capital as well as of entrepreneurial demand. Norway needs to increase the entry of innovative start-ups in order to diversify the economy beyond its resource-based sectors. In addition to reducing its dominant role in providing venture capital through privatisation of SND Invest , the government should further privatise industrial holdings, reduce quantitative restrictions on institutional investors, and remove the wealth tax which deters venture investing. This paper analyses trends in Norwegian venture capital markets and makes policy recommendations which have been developed through an OECD peer review process. Examen des politiques de capital-risque : Norvège Le marché norvégien du capital-risque est essentiellement axé sur les investissements au stade du développement dans les secteurs traditionnels et il souffre d’un manque de financements privés et d’une demande insuffisante de création d’entreprises. Il faudrait que la Norvège multiplie les créations d’entreprises innovantes pour diversifier son économie en élargissant la part des secteurs qui ne sont pas fondés sur les ressources naturelles. Tout en réduisant leur rôle prépondérant dans les apports en capital-risque par le biais d’une privatisation de SND Invest , les autorités devraient privatiser de nouveaux holdings industriels, éliminer une partie des restrictions quantitatives imposées aux investisseurs institutionnels et supprimer l’impôt sur la fortune, qui freine l’investissement en capital-risque. Cet article analyse les tendances des marchés de capital-risque en Norvège et présente les recommandations qui ont été formulées à l’issue d’un examen par les pairs réalisé dans ...

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    File URL: http://dx.doi.org/10.1787/331327816481
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    Bibliographic Info

    Paper provided by OECD Publishing in its series OECD Science, Technology and Industry Working Papers with number 2003/17.

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    Date of creation: 08 Dec 2003
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    Handle: RePEc:oec:stiaaa:2003/17-en

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    Cited by:
    1. Valérie Revest & Sandro Sapio, 2008. "Financing Technology-Based Small Firms in Europe: a review of the empirical evidence," LEM Papers Series, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy 2008/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    2. Terje Grønning, 2007. "Biotechnology business in Norway: Peripheral advantage, or just periphery?," Working Papers on Innovation Studies, Centre for Technology, Innovation and Culture, University of Oslo 20070607, Centre for Technology, Innovation and Culture, University of Oslo.
    3. Alessandro Rosiello & Gil Avnimelech & Morris Teubal, 2011. "Towards a systemic and evolutionary framework for venture capital policy," Journal of Evolutionary Economics, Springer, Springer, vol. 21(1), pages 167-189, February.

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