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-It is boiling inside the TTO’s

The Association for Innovation Companies in Norway (FIN) has prepared a portfolio analysis of the activity and the value TTO's have created for the society since 2005. The report shows a great increase in activity over the last couple of years.

The report has been put together by Menon Business Economics. It is partly based on the activity the TTO’s have reported to FORNY2020. Eight TTO’s have been involved in the report.

From 6000 ideas to 300 establishments

During the period 2005 to 2014 Norwegian TTO’s received 6000 ideas. Of those, 3000 became projects, while 500 resulted in actual licenses of new technology. 300 led to the creation of new businesses, of which there are 100 who have given positive disposal, i.e. they stand financially. Today more than 1,500 people are employed in companies that have come out of TTO’s.

There is reason to believe that the numbers will continue to grow in a positive direction. In 2014 the TTO’s initiated more than 500 projects – an impressive increase of 30% compared to the number in 2013.

– We have seen a very positive development in recent years, with increased deal flow, more projects, and a great increase in licenses and business establishments. It is boiling inside the TTO’s, and the areas of medicine, health and life sciences account for a significant proportion of this. This may indicate a shift in the direction of commercialization and that it has gained a stronger foothold, said Leo A. Grünfeld, Head of Research in Menon, when he presented the report.

– We can achieve much more

Revenue and capital flow in the portfolio companies is increasing, and the value added by these has been a total of 5.5 billion NOK in the period 2005-2013.

– But this is still only a thousandth of the total value creation in Norway, which shows that there is potential for up scaling. We can achieve much more, but to do this we need to increase the amount of capital and not at least change of culture towards a more commercial mind-set, said Grünfeld.

Download and read the full report here Arsrapport2014-PortefoljeanalyseTTO-Menon (no longer available).