Innovation and entrepreneurship in South West Norway MIT REAP Workshop Oct 21-23, 2015

Parliamentary Democracy (Kingdom) Population 5 mill. A Small, Open Economy Strong Natural Resource Base (Hydro, Oil & Gas) Advanced Knowledge Economy

Few people, much nature …

South West Norway Region

Norway’s territory: 7 times more sea than land ShiSg and maritime Shipping & Maritime Technology ShiSg and maritime Seafood & Aquaculture ShiSg and maritime Oil & Gas & Engineering Technology Kristiansand Stavanger Bergen Ålesund Oslo

South West Region: An Ocean Industry Supercluster – Oil & Gas, Maritime, Aquaculture $50 billion sales employees

When oil was discovered in the North Sea in 1969, it transformed Norway’s economy Forty years later: Very high GDP per capita Large Sovereign Wealth Fund $870 billion 2011 UN human development rankings place Norway at the top Strong Industrial Clusters in Ocean Industries Heavy dependence on oil & gas

 The oil sector has monopolised the nation’s technical talent  Our entrepreneurial muscle could be stronger …  And now falling oil prices hit hard Oil wealth is bringing its own problems $ 50 $ 125

Norwegian Blues ?

Intelligent Drilling / Increased Oil Recovery Innovation Capability: Probably Better At Incremental Engineering than Inventions Or Cheese Slicer

Ecosystem: Organizing our innovation and growth strategies through clusters Michael Porter, Harvard Torger Reve, BI Innovation Norway – Cluster Programs A general acceptance that innovation takes place in areas where we have a knowledge base to innovate from, technologically and commercially

Our REAP objectives Norway must mobilize innovation and entrepreneurship forces and reduce our oil dependence Develop an Innovation and Transition Agenda for South West Norway

New Opportunities May Be Found In Areas Where Clusters Intersect Examples 1.Integratetd Ocean Operations (Industrial ICT, Big Data) 2.Smart Renewable Energy 3.Linking Marine and Maritime

South West Norway Region Four local REAP stakeholder groups Each organized by a local cluster organization

Introducing the Team Torger Reve Professor BI Champion Peter Klemsdal CEO Sorlandet Knowledge Foundation Hans Petter Hildre Professor Alesund University College Kjell O. Johannessen Project Manager Academia Government / Economic Development Mona Skaret Director, Growth Companies and Clusters, Innovation Norway Kristin Reitan Husebøe CEO Greater Stavanger Business Region Tom Fedog CEO Stimline Entrepreneur Tove Ormevik Platform Manager BP Norway, Chairman of The Board GCE Sub Sea Tore Medhus Executive Vice President Sparebank1 SR-Bank Corporate Capital KI-R