Three predictions for Norwegian startups in 2023
1. Companies regardless of size will have access to AI technology
Several have expressed concern that for a long time to come, AI technology will be reserved for the largest companies that themselves have the financial muscle to develop the technology. Such a development, some believe, could lead to further concentration of market power in a few actors, and increased differences.
An extremely important development in the spread of AI technology, which is the last major advancement in accessibility of the year. In 2023, the development of machine learning tools will increasingly be incorporated into platforms that even the smallest companies have access to.
The commercialization of AI has contributed to the technology being integrated into platforms with a user interface that does not require knowledge of coding, and that it is offered under license to end users. This is a positive development that will make one of the most revolutionary tools of our time available to many more people.
With the exception of the covid year 2021, since 016 there has been an increase of 2 percent scale-ups in the Oslo region of almost 100 percent
2. The Oslo region beats Copenhagen in the number of growth companies
In 2023, Oslo will approach Helsinki and Copenhagen in terms of start-up companies that have entered the market with commercialized products.
In recent years, there has been a change in start-ups around Oslo, with more and more companies making the transition from concept phase to revenue-generating growth company. With the exception of the corona year 2021, there has been an increase in the number since 2016 scale-ups in the Oslo region of almost 100 per cent, while the number of employees in growth companies has increased by 138 per cent in the same period. These documents in a new report from Menon Economics.
In 2023, we will see further maturation of and returns from the innovation environments in Oslo, where more and more incubators, accelerators and clusters are emerging.
With the ongoing growth of knowledge-intensive growth companies around Oslo, we are well positioned to overtake Copenhagen and Helsinki in the number of growth companies in 2023
3. The lack of IT skills will become even more precarious in 2023
It is a foretold problem that in 2030 Norway will have 40,000 vacant positions within IT without sufficient labor to staff them. As Mats Furulund points out in Finansavisen on 11 December, this problem will be further intensified by the state budget, which is aimed at 1,500 relevant studies within IT. Then it is good that there are alternatives such as Academic Works which can contribute to plugging the skills shortage.
If the positive development in the growth company is to continue, and we are ever to be able to compete with the Nordic tech capital, Stockholm, we need more initiatives like Furulund’s offer.
With the ongoing growth of knowledge-intensive growth companies around Oslo, we are well placed to be able to overtake Copenhagen and Helsinki in the number of growth companies in 2023. Employees with relevant IT skills provide enormous strength in the labor market, where their knowledge is in short supply. The only thing that can put a damper on my enthusiasm for Norwegian growth companies in 2023 is that we will not get enough sharp minds.
Anders Haakon Lier
Founder and general manager of Energi.AI