Startup and Scaleups in the Oslo Region Report 2023

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Published by Oslo Business Region, 06 December 2023

This report provides a status for, and insight into, the development in the number of startups and scaleups in the Oslo region. In addition, we show the contribution of these companies to value creation and employment.

We find 1,855 startups in the Oslo region in 2022, a reduction of 3 percent from 2021. These startups have a combined value creation of NOK 3.1 billion and employ 4,500 people.

Of these, 260 are identified as capital and R&D intensive and considered to have particularly high growth potential. Over the last five years, the number of startups has been stable. Due to the high growth in new business formations during the pandemic, an increase in the number of startups was expected in 2022, but this growth did not materialize. However, for the same reason, we anticipate a slight increase in the number of startup companies next year.

Furthermore, we find 198 scaleups, an increase of 7 percent since 2021. Scaleups in the Oslo region employ 9,800 people in total and have a value creation of NOK 9.2 billion, which accounts for 1 percent of value creation in Oslo.

In total, we find 2051 startups and scaleups in the Oslo region in 2022. These companies employed 14,300 people in 2022, more than twice as many as in 2011. The companies thus stood for 12 percent of net job growth in the Oslo region since 2011. All startups and scaleups in the Oslo region had a total value creation of NOK 12.3 billion in 2022.

Read the full report at the link below: