The Norwegian economy has not been in good shape for a long time. Oil is no longer as profitable as it once was. This country must change its approach to business and investment. There is a need to focus on new global trends and influences. According to experts, Norway needs to invest more in innovative solutions that can open the country of fjords to new, future-oriented industries. It is essential to invest in professional research, as in other countries. What changes will bring the expected effect?
Norway needs innovation - in the process of change ...
In the coming years, we will witness a restructuring of the Norwegian economy. The development of new companies and new businesses will be largely based on research, development and innovation (R&D), and companies will need close contact with the scientific community. The implementation of new technologies and solutions so that the economy brings profits and develops will be a necessity. The Research Council is actively working to strengthen these two spaces of business and science, which is why it invests approximately NOK 5 billion for this each year. After the financial crisis, corporate investment in research and development have been increasing - regularly since 2010. It is good, but the latest data from the Norwegian Statistical Office show that 2017/2018 was on a decline. The plans are large, but if you want to implement them by 2030 you need to act quickly.
Norway needs innovation. Why it's worth investing into the new staff?Norway needs innovation - what needs to be done?
There is really a lot of work. However, the change process can be broken down into several most important aspects:
- Increasing the research and development potential in business. Today we have a total of about 21 research processes. An investment in the scientific and personnel development of employees is indispensable. The staff must be well prepared to change, understand and implement new innovations. Training, courses, new research. The power of a group with knowledge and experience can do more.
- The scientific offer must be attractive for people to invest in education. In recent years, the Research Council has funded over 400 business doctorates. Here, Business Minister Torbjørn Røe Isaksen and Minister for Research and Higher Education Iselin Nybø are really successful.
- Increase the number of employees working in the research and development department. Employment of fresh blood. If companies are to focus more on R&D, they must purchase R&D services from research organizations and increase the use of advanced (and expensive) equipment. The former enable interaction between companies and sharing knowledge.
- Importing research and development services from abroad. Norway has good opportunities to learn and collaborate with foreign institutions. This is possible through international research cooperation with the support of the Research Council, under the EU Framework Program or in bilateral cooperation with non-European countries. If companies notice a multitude of specialists in Norwegian entrepreneurs who are worth trusting, each project will be fruitful.
Opening up to new industries ...
Norway needs innovation. It is necessary to open up to new industries: "green economy", new ways of obtaining energy, ecology. A look at new technologies and trends is necessary if the Norwegian economy wants to move forward.
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Source: https://www.dagensperspektiv.no/
