Through the Innovation contracts, Innovation Norway offers a support program that makes grants available to Norwegian SMEs developing new products or services in collaboration with companies representing the market, referred to as "pilot companies". The objective of innovation contracts is to stimulate innovation and value creation by reducing risk and the program may cover up to 45% of the development costs incurred by the Norwegian companies.
The grant is available to Norwegian companies having the skills and knowledge to develop the products or services the foreign companies needs but are not available in the market.
The benefits of the projects for pilot companies collaborating in Innovation contract with Norwegian SMEs are two-fold:
- Significant reduction of project cost and financial risk.
- Opportunity to collaborate with Norwegian SMEs with unique skills and knowledge in the relevant product area.
In order to qualify as a pilot customer in an Innovation contract, you should be a demanding and collaborating customer that takes part in the process by providing details of requirements and testing the result. The collaborating customer´s efforts in the project in terms of workload and funding should be at least 20% of total eligible project costs.