The state owned company employs more than 700 people. Innovation Norway has offices in all the Norwegian counties and in more than 30 countries world wide. The head office is situated in Oslo.
Business relations Norway - Canada
Due to the similarities between Canada and Norway, many Norwegian companies find Canada a desirable market for introducing their products/services.
Historically both countries relied heavily on primary industries such as forestry, agriculture, fisheries, and mining. However in recent years both Norway and Canada seek to become the most innovative countries in the world investing heavily in research and development. Consequently, the two countries are emerging as major world players in such sectors as information technology, biotechnology, nanotechnology, automotive, hydrogen and renewable energy. Furthermore, traditional industries such as agriculture and fisheries have spun out new lucrative industries in organic foods, and aquaculture.
Oil and gas is also a significant industry for both countries. Canada is expected to be the 4th largest oil producer in the world by 2015 (today Canada is the 8th largest producer).
Why Canada?
Canada is the gateway to a North American market of 440 million people. Two-way goods-and-services trade between Canada and the United States was valued at almost half a trillion U.S. dollars in 2003, or nearly US$1.2 billion a day. Canada is America's largest trading partner and the United States does more business with Canada than with all the countries of the European Union combined!
Canada is an important market for Norwegian industry and research institutions especially withinin the energy and maritime sectors. The total trade volume is substantial and Norwegian companies have made large investments in Canada over the last few years. Many foreign owned companies choose setting up operations in Canada due to the highly skilled workforce, sophisticated infrastructure, low corporate tax rate, R&D tax credit program, and close proximity to major hubs. Most large Canadian cities are within an hour-and-a-half drive of the United States and many are much closer.
Canada has one of the best education systems in the world, with world renowned universities, and research facilities. Innovative clusters often center around universities and these clusters give new businesses access to established networks, financial opportunities and the possibility for rapid growth at a low risk
Innovation Norway in Toronto is located at the following address:
Innovation Norway
2 Bloor Street West, Suite 2120
Toronto, Ontario M4W 3E2, Canada
Phone: +1 416 920 0434
Fax: +1 416 920 5982
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