How do Norwegian firms within the offshore wind energy industry internationalize?

Abstract

In an increasingly globalized world, Norway s dominating industries exists because of natural resources and continues to be subject to heavy regulations. The biggest of these, the petroleum sector, stands for a substantial part of the state income and is to a large degree responsible for the high standard of living the country has. The dependency on this single industry has made politicians in Norway to call for diversification. However, the current status quo of the Norwegian industries and economy imply a poor domestic market and a push for internationalization from the start. A method of commercialization in strong contrast to the development of the energy sectors in Norway. In this thesis we have investigated how companies internationalize in the context of having a poor domestic market. We do this by researching an industry that can show a substantial synergy with the existing petroleum and maritime sectors; offshore wind. The market for this industry is created as other countries slowly shift their investments away from fossil fuel to also include renewable energy production. The theoretical framework used is based on the continuous work done in International Entrepreneurship and Effectuation vs Causation . These theories shows four elements that is necessary for an international new venture, as well as giving knowledge to analyze the development and creation of the products and company. Additional support for this framework is found in the research done on strategic decision-making and the resource-based view. With this theoretical framework in mind, we have investigated 5 separate industry actors who have invested in the industry and engaged the international market. In addition we interviewed one industry network organization to get a better overview. The companies were both start-ups and spin-offs that represent various parts of the value chain and range from delivering one specialized component to complete solutions for a wind park. Our analysis shows a distinction between start-ups and spin-offs in how they have tried to internationalize. The start-ups showed a strong coherence towards what the theoretical framework suggests. This means that our start-up ventures and their opportunities are created through more effectual processes and that they use their unique knowledge and resources in a way that utilizes international location advantages. Further; Norwegian firms within offshore wind internationalize by directly approaching the international market. How they approach the international market is governed by the resources available and their established networks.