Oslo Business Region’s Investment Initiatives in 2024: A Strategic Approach to Climate Tech Growth
In 2024, Oslo Business Region’s (OBR) work on attracting international investment to the city had a particular focus on the climate tech sector. Despite challenging global economic conditions, OBR’s strategic initiatives helped secure substantial foreign capital, laying the groundwork for Oslo’s future as a global leader in sustainable innovation.
Background and Market Conditions:
The Oslo investment landscape faced a significant decrease in 2024, with a 34% reduction in total investments and a notable drop in the share of international investments, from 80% to 65%. Despite these setbacks, Oslo remains heavily dependent on foreign capital, with the climate tech sector attracting a big portion of the total investment (50%). In order to make a larger impact, OBR recognises the need to strengthen Oslo´s position in the global market and attract the necessary investment to support the scaling of Oslo-based startups.
Targeted International investors through insight and initiatives:
OBR’s strategy was centered around core initiatives focusing on investment opportunities in Oslo through programs targeting international investors. Recognizing the importance of global visibility, OBR organized invitational meeting places between Norwegian and global investors at key international and national arenas.
Curated Programs for international venture firms in Oslo: 15 of the leading European international climate tech venture capital firms took part in a program by OBR in Oslo alongside Norwegian investors.
International meeting places and delegations: 20 Norwegian investors and 50 startups took part in a delegation program in San Francisco with 70 US investors. 70 leading climate tech investors participated in an interactive side-event at The Drop, Europe's best conference for global climate tech investors.
Outcomes:
OBR’s strategy led to results that attracted international capital, strengthened the perception of Oslo as a top destination for climate tech investment, and involved more than 500 Norwegian and international investment firms:
15 top European climate tech VCs, that raised over 20 billion NOK, participated in programs with local investors in Oslo.
500 investment firms were engaged through OBR's various events and initiatives.
90 million NOK in total investment as a result of OBR's initiatives
Collaborative ecosystem building:
Core in OBR´s work is a collaborative business model. OBR worked closely with a broad network of local and international partners. These partnerships increased Oslo's international visibility to global investors.
Stockholm Business Region and Business Helsinki for showcasing the Nordic region as a hub for impact investing, and a pan-Nordic program of Nordic public fund investors in partnership with Helsinki Partners.
Innovation Norway, Startuplab and Alliance Ventures for making the startup and investor program in San Francisco alongside OBR
Oslo Innovation Week played a central role in attracting global attention to Oslo’s innovation ecosystem and activating the local investment community.
Collaborations with Sandwater, Skyfall Ventures, Arctern Ventures and Ferd at global events The Drop and Slush.
Key takeaways and looking forward by Tonje Ørnholt, Head of Investment:
Oslo’s collaborative approach, both locally and regionally, has proven effective in attracting international attention and investment.
By curating high-value interactions between Norwegian and global investors, OBR has facilitated a strong pipeline of capital and knowledge flow.
Strategic international delegations and events in key global markets play a central role in positioning Oslo abroad
Lets go 2025!