Innovation Norway is a state-owned company and a national development bank. It was formed in 2004 through the merger of four governmental organizations. These organizations were:
The company goal is to promote nationwide industrial development with focus on both the business economy and Norway's national economy. It also has the goal of releasing the potential of the different districts and regions in Norway by contributing to innovation, internationalisation and promotion. They have offices in all the Norwegian counties, with the head office in Oslo. It also has offices in 30 countries around the world. Previously they operated Visitnorway.com which won three Webby Awards in 2009.
The evergreen investment company Investinor was established in 2008 as a wholly owned subsidiary. Investinor's mandate is to invest in private companies aiming for international growth and expansion. In December 2012 the ownership was transferred to the Ministry of trade and industry.