NEWS

Cross-Border Finance

A Norwegian-Swedish workshop titled “Cross-Border Financing” discussed how access to capital, investor expertise, and collaboration can be strengthened to finance startups and growth companies in the forestry and bioeconomy sectors. The dialogue will continue.

02/07/2026
Norwegian and Swedish participants at a workshop at DNB's headquarters in Oslo to discuss cross-border financing opportunities. Photo: Mads Lo

The workshop was organized by DNB and the Norwegian Wood Cluster as part of the Interreg project Circular Bioeconomy Arena. In addition to DNB and the Norwegian Wood Cluster, representatives from Investinor, Innovation Norway, Dalerna Science Park, Sting Bioeconomy, Paper Province, and Klosser Innovation participated in the workshop.

Setting up a new fund?
The capital gap in the transition from the early stages to scaling up and internationalization is a challenge, and Norway appears to be weaker than Sweden in this regard.

The workshop highlighted the need to establish a new fund that can operate across the Norwegian-Swedish border. It emerged that DNB could play a role in establishing such a fund and raising capital for it, and that family-owned companies could be potential sources of capital.

The structure of a potential fund must be evaluated in greater detail. Among other things, it is necessary to clarify the fund’s mandate, the phases it will cover, and the investment criteria that will apply. Consideration should also be given to how a new fund can leverage the due diligence work conducted by innovation companies. Furthermore, through increased collaboration, more networking opportunities should be established to facilitate connections between companies and investors.

The dialogue continues
There was considerable interest in continuing the dialogue, and the Norwegian Wood Cluster undertook to facilitate this in close collaboration with DNB, which is an important member of the cluster.

Truls Langaard, Head of Forest Industries at DNB, chaired the workshop on cross-border financing. He was joined by a number of key figures from the bank to shed light on the day’s topic. Photo: Berit Sanness
DNB is a strategic partner for scaling up and supports innovation and international expansion. Thomas Kruse, from DNB’s startup and growth team, helps organize investor meetings and gains insight into what investors want to see when they are pitched. Photo: Berit Sanness
- "Innovation Norway can support startups in assessing whether there is a market and then assist with technical and market-related analysis, as well as product development," said Christina Seegaard, Head of the Finance Department at Innovation Norway. Photo: Berit Sanness
DNB's startup and growth team collaborates with networks for entrepreneurs. Caroline Wannehag, a member of the team, helps entrepreneurs understand that they need to spend enough time assessing market opportunities. Photo: Mads S. Lo
Earmarked funds for investments in the Norwegian forest industry since 2014 have yielded minimal results. “The new scope should at least include Sweden and will likely be expanded to include the land-based bioeconomy,” said Linn Hege Aune, Head of Sustainability and Business Development at Investinor. Photo: Berit Sanness

Circular Bioeconomy Arena

The Interreg project Circular Bioeconomy Arena is a Norwegian-Swedish Interreg project owned by Norwegian Wood Cluster and Paper Province. The project collaborates closely with several innovation stakeholders. Circular wood construction is a key focus of the project. It also works with startups on both the Norwegian and Swedish sides that are active in the forest-based bioeconomy. The project is funded by Interreg Sweden-Norway and EU funds, as well as with support from Innlandet County Council, Akershus, Buskerud, and Østfold County Councils, Region Värmland, Region Västra Götaland, Region Dalarna, Vinnova, and DNB.