Innovasjon Norge has approved about 200 applications out of a total of 770 submitted by companies at the very earliest stages of development. A common reason for turning down applicants was the absence of a concrete plan for how the founders would enter their target markets or attract investors to support further development.
The pattern of rejections points to a broader challenge for nascent startups: many appear to be seeking support before they have clear go-to-market strategies or investor acquisition plans. The data suggests that entrepreneurs will need to tighten their business strategies and funding approaches if they want to improve their chances in future application rounds, and it may prompt changes in how future applicants prepare proposals to meet Innovasjon Norge’s expectations.