From the 1 of January 2004, the new state owned company Innovation Norway replaced the following four organisations: The Norwegian Tourist Board (NORTRA), the Norwegian Trade Council, The Norwegian Industrial and Regional Development Fund, SND and the Government Consultative Office for Inventors, SVO. Innovation Norway promotes nationwide industrial development profitable to both the business economy and Norway's national economy, and helps release the potential of different districts and regions by contributing towards innovation, internationalisation and promotion.

Innovation Norway, together with the Ministry of Trade and Industry, works on developing programmes for development of the Norwegian Creative and cultural industries.

The state owned company employs more than 700 people, and has offices in all the Norwegian counties and in more than 30 countries world wide.