On Oslo #1

2024 was a tough year for many tech and knowledge-based companies in both Oslo and across Europe. The numbers show we have work to do. The Draghi Report highlights that Norway’s key challenges and future prospects are very similar to those in the rest of Europe.

That’s why it was particularly interesting to read the EU’s Competitiveness Compass, which was released last week. The goal of this initiative is to strengthen Europe’s global competitiveness and guide the EU’s priorities in the coming years. A task that is more crucial than ever as President Trump seems to reshape the rules of global trade.

3 Critical Actions for 2025

Looking ahead to 2025, there are three things I hope to see—things that reflect both our challenges and opportunities:

1. Bridging the talent gap
Six out of ten companies face a shortage of skilled workers (NHO). To address this, the City of Oslo launched Kompetansespor, a pilot project aimed at reducing visa processing from 37 weeks to just 3 days. With promising results and support from partners like UDI, the police, SUA, and tax authorities, this initiative should be permanently implemented.

2.Better support for Norwegian startups and investment funds
Funding for Norwegian startups and investment funds is critical—not only to attract new investors but also to retain existing ones. Companies like Storebrand’s investment funds and Cognite may have reasons for leaving, but they are missed in Oslo.

3. More focus on Oslo’s opportunities
In 2024, a lot of the conversation—especially on LinkedIn—was about EXIT and wealth tax (myself included), so much so that it made headlines in international media. This year, I hope we can also talk more about the opportunities that exist in Oslo and Norway—there is so much potential here, and we need to make sure the world knows it.

How Does Oslo Business Region Contribute?

Oslo Business Region celebrated 10 years, and Oslo Innovation Week turned 20 in 2024—but we’re just getting started. Oslo’s startup ecosystem is young, resilient, and ambitious.

We work with local and international partners to connect Norwegian startups with global investors. With 50-80% of venture capital in Norway coming from abroad, this is crucial. In 2024, we partnered with Sandwater, StartupLab, and Ferd and engaged with investors from the US, Europe, and Asia.

We will also be present at key innovation platforms in neighbouring countries to promote Nordic collaboration, such as Tech Arena in Stockholm and Slush in Helsinki. We continue to be a member of Choose Europe, a network of European cities and regions working together to drive investment leadership in sustainable growth and regional resilience. These efforts are an important part of strengthening Oslo’s role as an international business and innovation hub.

We have big plans, so stay tuned,

Siw Andersen
CEO, Oslo Business Region AS

This is my first update from what I plan to be a larger series, where I’ll share thoughts on what Oslo needs to succeed globally. I’m exploring different formats and topics - join the conversation and let me know your thoughts!

📩 Contact: siw@oslobusinessregion.no