Lillestrøm næringsfond

Lillestrøm kommune has a small business development fund (næringsfond) established from hydroelectric power development compensation. The fund supports business initiatives that align with the municipality's goals and UN sustainable development goals. The fund capital is NOK 1,500,000, with returns available for grants and exceptional loans for businesses in Lillestrøm municipality. Priority is given to projects involving collaboration between multiple businesses, and funding must be catalytic for the proposed initiatives to be implemented. Supported projects must contribute new knowledge, develop the business(es), and increase attractiveness for Lillestrøm. The fund cannot support debt restructuring or ongoing operations, and is subject to EU state aid regulations. Funding typically does not exceed 50% of total capital needs, and recipients must submit a report upon project completion.