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Oslo the capital city of norway has a burgeoning startup scene that is garnering attention from entrepreneurs investors and industry players alike while the city may not be as wellknown as other startup hotspots such as san francisco berlin or tel aviv its unique blend of factors is making it a promising destination for innovators and disruptors oslo has a long history of entrepreneurship dating back to the viking age when traders and seafarers established a bustling port on the shores of the oslofjord in modern times norway has been known for its oil and gas industry but in recent years the country has been shifting its focus towards technology and innovation the entrepreneurial spirit of oslo has been fueled by government initiatives such as startup norway which provides resources and support to earlystage companies oslo is situated in southeastern norway and is home to just over 634000 people the city is surrounded by forests lakes and hills giving it a natural beauty that attracts tourists and locals alike the city is also a hub for transportation with an international airport and a network of highways and rail lines that connect it to other parts of norway and the rest of europe oslos startup scene is characterized by companies working on a variety of innovative technologies including artificial intelligence machine learning and blockchain one standout company is kahoot an educational technology platform that has been used by millions of students and teachers worldwide other notable startups include no isolation which creates technology to combat loneliness and otovo a solar energy provider oslo has a number of successful startups that have been founded and headquartered in the city among them are tidal a music streaming service and opera software which develops web browsers and other software products it has been the site of several key historical events including the signing of the oslo accords in 1993 which aimed to bring peace to the middle east the city was also the site of the nobel peace prize ceremony which is held annually in oslo city hall oslo is home to several universities including the university of oslo which is ranked among the top 150 universities in the world other universities in the city include bi norwegian business school oslo metropolitan university and the norwegian university of science and technology cost of living in oslo is high minimum wage of nok 20350 24 per hour the unemployment rate in the city is currently at 37 which is lower than the national average however it has a strong economy with a citylevel gdp of nok 380 billion 445 billion in 2019 the city is home to a number of large companies including dnb bank and telenor which contribute to its economic growth the rate of new companies starting in oslo has been on the rise in recent years with more than 1000 new companies founded in the city in 2020 alone however the city has also seen a higher than average rate of companies ending with around 25 of startups closing within their first five years overall oslos startup scene is thriving with a supportive government a strong economy and a talented workforce however the high cost of living and fierce competition from other startup hubs may make it challenging for some companies