One of Norway’s fastest-growing startups provides solutions for project management
Inspired by MIT’s David Birch and his elephants, mice, and gazelles, Norway’s business magazine Dagens Næringsliv each year presents our fastest-growing companies. Only two percent of Norwegian companies meet all criteria in the Gazelle competition. Nationally, these companies contribute some NOK 150 billion in tax to the Norwegian state. Prior to this year’s competition, only eleven companies have achieved the title of Gazelle seven years in a row.
To meet the requirement as a Gazelle the company must have at least doubled revenue over four years, had revenue over one million the first year, operated at a profit, avoided negative growth, been a corporation, and delivered approved accounts.
Norway is struggling to scale up young firms. The skills and capabilities have to be improved to fully realize their global potential. This challenge is related to the lack of experienced management teams. Norwegian firms that grow to become large firms in a short period of time are very rare. The majority of the Gazelles remain under 50 employees. However, they have a considerable impact on job creation. We have for a long time had a high percentage of startup companies. Norway also has the most Gazelles in the Nordic countries. This is related to the general activity in the economy.
Last year Joint Collaboration received the award as a Gazelle company for the ninth consecutive year in Norway. They are a leading supplier of collaborative solutions for projects, with more than 45,000 professional users using their solutions. The customers are those who “build something” within the construction, oil and gas, energy, and engineering industries. The company has several large clients, including both public sector entities such as Statens Vegvesen, Forsvarsbygg, and Norwegian National Rail Administration, and private companies such as Lyse Energi, Norconsult, Siemens, and Hydro. Common to all customers is that they need a suitable, flexible, and user-friendly collaboration solution that guaranties high project quality and profitability.
The complexity of construction projects has increased significantly, and to a large extent the companies buy labor resources outside Norway, and consequently have different work cultures, procedures, and documentation needs. Decision-making is becoming much more demanding.
According to Joint Collaboration’s CEO, the company has achieved growth over time by focusing on the core business. They have maintained the strategic direction that was designed from the beginning with collaboration tools for projects. “We have an even better offer, and have actively worked to find the right audience, and it is this combination that has led to the success. We have succeeded in building a strong relationship to and reputation among the customers for a long time.”
In a few weeks we will have the Gazelle winner for 2014!
This article originally appeared in the Dec. 12, 2014, issue of the Norwegian American Weekly.