Impact
Nopef’s annual customer survey aims at measuring results achieved through funded projects. The customer survey, conducted since 2014, evaluates the impact of Nopef’s financial support by monitoring commercial results and the outcomes of feasibility studies three years after completion.
According to results from 2024, 74% of companies see Nopef’s support as having had a significant or very significant impact on their decision to conduct a feasibility study into internationalisation, in line with the previous year. Amongst financed companies, 69% report that Nopef’s support had a considerable impact on the scope and quality of the feasibility study.
A similar share of companies, 73%, report that Nopef’s support had a significant or very significant impact on their competitiveness in international markets. Of the Nordic companies that carried out an international establishment with the support of Nopef, 93% have ongoing operations in the project country three years after their establishment abroad.
73%
of companies report that
Nopef support has had a
significant impact on their
international competitiveness
Nopef support has had a
significant impact on their
international competitiveness
Average project impact
The 2024 survey reveals significant economic value and opportunities generated from Nopef-supported projects. Based on the outcomes of 260 projects surveyed, each international business established with Nopef support has, on average, created 10 jobs globally, including two in the Nordics, as well as generating project-related investments of EUR 1.4 million and project-related sales of EUR 2 million three years post-realisation.
Average impact of each Nopef project
 |  |  |
10global jobs of which two are in the Nordics | EUR 1.4mproject-related investments | EUR 2.0mproject-related sales |
Expected impact from projects financed in 2024
Given the average project impact presented above, and an expected project success rate of 50%, the projects financed by Nopef in 2024 are expected to contribute to the creation of approximately 270 new jobs, including more than 50 in the Nordic region, as well as approximately EUR 40 million in green investments and an estimated EUR 50+ million in project-related sales in the coming years.
From our customers
“Nopef’s support and commitment has in our case resulted in a ‘snowball effect’, giving our company an access point to new markets and ventures that have been enabled through our novel green technologies.”
Racell Saphire Technologies ApS
a Danish producer of integrated solar solutions
“The support provided by Nopef has been instrumental in helping us establish ourselves in a new market.”
GeoSilica Iceland
a provider of products produced from side streams of geothermal wells
Rewarding good waste management in the UK
Carrot AS, a Norwegian company, develops data-driven solutions for waste management. Their cloud-based software tracks waste, encouraging proper sorting and recycling through incentive systems like ‘pay-as-you-throw.’ Carrot has been highly successful in Norway, helping the shopping centre Vestkanten Storsenter raise its sorting rate from 54% to 72% and Bergen residents cut residual waste by 9%. With funding from Nopef, Carrot explored the UK market through feasibility studies, competitor analysis and pilot projects in office buildings and shopping centres.
“It is critical to be there in person and meet people face to face, so the Nopef funding really helped. We also learned the importance of having a local partner to open doors, because the industry is close-knit,” says Tine Charlotte Holm, COO of Carrot AS. Within six months, several pilots resulted in paying customers, demonstrating the effectiveness of Carrot’s waste management solutions and their potential for international expansion.
