Nordic Project Fund - Nopef

About Nopef

The aim of Nopef is to strengthen the international competitiveness of Nordic companies by providing co-financing for feasibility studies that support export projects and the internationalization of Nordic companies. Through cooperation with national, Nordic and international organizations, Nopef aims at creating a “Nordic advantage”.

The following information applies to Nopef’s mandate from 2011 to 2013.

Loans

Support is given in the form of a loan to projects and feasibility studies with the aim of establishing a subsidiary or JV in the project/target country. If the project is approved, Nopef may participate with up to 40 % of the feasibility costs in related to international business set up. Before the loan can be granted, the project or feasibility study must be evaluated by Nopef. If the project is realized, e.g. registration of business license in the project country or corresponding, the loan will be converted into a grant. Should the project not result in establishment (not realized) only 50 % of the support will be converted into a grant. In the future, in order to avoid a repayment of 50 % of the loan, Nopef will only disburse 50 % of the total funds set aside while the project is running. The remaining 50 % will be disbursed once the project has been realized.

Costs that Nopef may cover:

• Internal/external salaries
• Travel, accommodation, transport in the target country
• Legal and financial consulting
• External consultants
• Risk and cost-benefit studies
• Translation work and interpreters
• Drafting a business plan for approval
• Business partner evaluation

Scope

The support applies to all companies from the Nordic countries – Denmark, Finland, Iceland, Norway and Sweden.

There are no direct limitations to which industries Nopef can support, however, there are some limitations to the size of businesses supported. Nopef will prioritize SMEs as defined by the EU: max 249 employees and an annual turnover of max EUR 50 million. Exceptions can be made if the project in question has a strong interest within one or more of Nopefs areas of interest. An exception must be separately approved by the Nopef board.

Other requirements that the applicant company should fulfill are:

• Companies that have experience in the same business area as the project.

• Companies that have sufficient financial and human resources relative to the size of the project.
• Companies that have been operational for at least one year.
• Companies that are not already operational in the project country. But if Nopef considers the new business set up not to benefit from the company's current activities in the project country exceptions to the above rule can be made.

The geographical scope covers all non EU and EFTA members. In 2010 Nopef was supporting 50+ active projects in China making it the most popular destination for Nordic companies to set up new establishments.

Nopef will in the aforementioned period give priority to projects within the following areas:

• Environmental engineering and technology
• Renewable energy
• Sustainable development
• Innovation
• High-tech
• Nordic “future industries” – industries where Nordic companies have a strong foothold
• Health & welfare

Application

Applications can be submitted throughout the year, however, applicants are recommended to submit one month prior to one of the four annual Nopef credit committee meetings, in order to secure enough time for evaluation. The 2011 credit committee meetings will take place on April 14, June 1, September 14 and December 8.

Application forms can be downloaded from

http://www.nopef.com/pages/eng/applicants/forms.php

It is also possible to get feedback on a potential project from the Nopef staff before an official application is handed in.

For more details on Nopef, please see www.nopef.com

For enquiries regarding establishment of business in China with Nopef support, please contact:

Hugo Høllede

Managing Director,

NCO China Consult

Copenhagen

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