The Competence Development Fund of Southern Norway takes a chance on Teknova

Compared to previous years, the Competence Development Fund of Southern Norway received additional as well as improved applications from the industries. This year's awards reflect this. In Research and Development we wish to point out Teknova among all the excellent projects we have granted funds, as it is important to have a technical and scientific research institute in the region.

The board of the Competence Development Fund of Southern Norway held its board meeting Friday 27 January 2012. The Competence Development Fund of Southern Norway has had a yield of - 7.5 per cent in 2011 (2010: + 13 %). The fund’s investing profile is similar to that of The Government Pension Fund (Petroleum Fund). The annual result of the Petroleum Fund is not public information, but 2011 reports suggest similar downswing there as well. The cephalic index at the Oslo Børs shows a downswing of 12.5 % in 2011. The nominal yield has been NOK - 56.7 million (2010: 96.5) and the real yield NOK - 64.7 (2010: 81.6). The Fund has a long term strategy of building buffer capital allowing them to award funds even in years of negative yield. The equity market in January 2012 has already improved, making sure that some of the loss from 2011 is regained. The board decided to award NOK 17.562.750 to 36 different projects in Vest-Agder. An overview of the different projects is attached and is also published on our web-sites. Please see www.kompetansefond.no. During 2011, NOK 1.550.000 has been awarded to 8 different projects. The Competence Fund of Southern Norway has with this awarded a total of NOK 19.112.750 in 2011.

The aim of the Competence Fund of Southern Norway is to contribute to skill upgrading in Vest-Agder in order to protect and establish employment and improve living conditions. This year’s awards contribute to long term goal achievement.

This year’s awards to the main groups are (in NOK):

Industry                                             6.72 million               35.2 %

University of Agder (UiA)                3.81 million               19.9 %

Other R&D institutions                   8 million                     41.9 %

Conferences                                    0.57 million                3.0 %

The Competence Fund of Southern Norway has received additional as well as improved applications from the industries compared to previous years. This year’s awards reflect this. In Research and Development we wish to point out Teknova among the projects we have granted funds, as it is important to have a technical and scientific research institute in the region. SmartEMIS is a great research project on effective communication in emergency situations at University of Agder. For the industries Nøsted Kjetting is paving the way by starting a skill upgrading program.

Manager Bjørn Fjellstad (mobile phone: 90933140), Chairman of the Board Torger Reve (46410485) and communication adviser Hans C. Knævelsrud (90594223) may be contacted for more detailed information.

Managing Director of Teknova, Ståle Selmer-Olsen (92024649), Professor at UiA: SmartEMIS Bjørn Erik Munkvold (48125922) and Factory Manager at Nøsted Kjetting AS Bjørge Reiersen (97590290) can also be contacted.