There was considerable investment in growth and innovation by companies in the Northern Netherlands in 2017, with a large number of jobs being created. "The results for 2017 show that we as NOM have made a clear contribution to this," says NOM director Siem Jansen. More than 16 million euros were invested in 78 companies, 28 innovative projects were participated in from Business Development and the efforts of the acquisition team led to 256 jobs in 2017. With an increasing focus on social impact.
The investment and development company for the northern Netherlands is emphatically about more than the current results achieved, which is why NOM shows in its annual report how it creates value. "It's about economic growth and innovation power, employment and social impact," says Jansen. "Through our investments, our knowledge and our networks, we as NOM want to create value for the North in a connecting way. And that goes beyond expected turnover and employment; at its core it is about a powerful region. Entrepreneurship is just like top sport: you rarely make an immediate profit, but focus your efforts on that important dot on the horizon." On the way to that dot - creating value for the Northern Netherlands - the results are good.
Projects with social impact
By organizing innovations and business development (BD), NOM actively contributes to economic development in the Northern Netherlands. In 2017, companies, co-financed by regional governments and European funds, enabled a total investment of over €15 million in 28 innovative projects. "Often projects with a broader societal impact than just economic growth and employment," the NOM director emphasizes, with the first Blockchain Hackathon, organized in the spring, being a great example, where the promotion of the region, the development of new technology and business activity go hand in hand. The Fieldlab Region of Smart Factories is rapidly developing into a platform within which new products and services are created for smart factories. Eight companies are already active at Technologies Added in Emmen, the first joint Smart Factory. Chemport Europe, as a third example, is now the common image of the chemical ecosystem and catalyst for large-scale greening of the chemical industry in Delfzijl and Emmen.
Funding and earnings
The number of leads and realized funding in 2017 increased. From its own funds (NOM Finance) and the funds managed by NOM - three provincial funds (MKB Fonds Drenthe, Friese Ontwikkelingsmaatschappij and Investeringsfonds Groningen), the Growth Fund of the Economic Board Groningen and the Innovatiefonds Noord-Nederland - a total of €16.1 million was invested in 78 companies during the reporting year.
These include both new and expansions of existing investments. At the end of 2017, all companies financed by NOM and the funds it manages employed 3135 people. With this, NOM contributes positively to employment in the Northern Netherlands.
NOM's financial result (not including the managed funds) for 2017 is also good with a profit of €6.2 million.
Acquisition and TopDutch
NOM's efforts in the field of acquisition - Foreign Direct Investment (FDI) - led to 256 new jobs in 2017. Moreover, FDI also achieved its other goals with an investment volume of €121.7 million and involvement in ten successful projects. "The launch of the TopDutch campaign was one of the highlights, from which we expect to reap further benefits in the coming years," Jansen adds. "The effect of a good image is difficult to measure, while it can make an essential difference. The fact that people talk positively about the Northern Netherlands increases self-esteem, which stimulates entrepreneurship. Moreover, the business climate becomes more attractive, because with TopDutch we are saying: this is where it happens!"
It is observed that entrepreneurs have an increasing focus on the opportunities arising from societal challenges within areas such as water, healthcare and more efficient use of raw materials. This reinforces the social goals that NOM also serves. Jansen: "As a regional development company, we are focused on the long term and realize that our efforts help make innovation possible. That does not always pay off immediately, but we do contribute to essential and irreversible movements such as the biobased economy. Raw materials are finite and it is important to anticipate the future in good time. We want to create value for this region, we want to live and work here now and in the future. Healthy financial results are a prerequisite, but ultimately it is the social quality that counts."
The full annual report can be found at the following link: http://jaarverslag2017.nvnom.com/