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Nordic Innovation together with European Investment Fund (EIF) suggests establishing a new Nordic innovation fund with a size of 250 million Euros.

The five Nordic countries combined are asked to invest 125 million Euros into the fund. EIF and private investors will invest the other half.

The Norwegian Minister of Trade and Industry, Trond Giske, received the proposal in October 2011. The five Nordic countries are now assessing whether to participate in the investment fund, and they are expected to reach a decision by March 2012. According to Nordic Innovation, the Nordic countries by themselves represent small open economies that are dependent on trade internationally. Therefore, it is important to facilitate a well functioning risk capital market, which enables promising young Nordic companies to grow and compete internationally. The three investment priorities of the suggested innovation fund will be Sustainability & eco-innovation, Health and wellbeing, and ICT.

	Minister of Trade and Industry, Trond Giske must decide whether Norway will participate in the Nordic Innovation Fund

Read article in Finansavisen

About Nordic Innovation Fund at Nordic Innovation

European Investment Fund webpage

Sources: Finansavisen and Nordic Innovation

By Johanne Egge Rinholm for Nansen Neuroscience Network

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