Natural State

What Natural State does

Natural State is a privately held strategy agency headquartered in Gamlebyen (Old Town), Oslo, founded by Einar Kleppe Holthe and operating with approximately 10 employees. The firm specializes in place development, place economy, market development, sustainable economics, and circular economy, serving Norwegian municipalities, public-sector bodies, and real estate developers/property companies (including OBOS, Bane NOR Eiendom, Solon Eiendom, and KLP Eiendom Trondheim) on long-cycle, project-based engagements.

The firm's core intellectual property is The Natural State Method, a proprietary framework that maps the total value and income potential of a place by first examining natural, human, and societal value before defining market value and economic potential. This methodology was published by Springer Nature in 2022 as a chapter in 'The Kyoto Post-COVID Manifesto For Global Economics', and underpins an integrated service offering spanning five practice areas (Place Development, Place Economy, Market Development, Sustainable Economics, Circular Economy) plus lectures, workshops, and commissioned research. Natural State has progressively taken on program-management roles in multi-party consortia such as Nordic Circular Hotspot (co-funded by Nordic Innovation), the SINTEF-led SirkOff research project (21.5 million NOK from Forskningsr\u00e5det), and the EU-aligned Inclusive City project within the Driving Urban Transitions partnership.

Natural State generates revenue through professional-services fees on project-based engagements, with custom quote-based pricing, multi-year contracts on real-estate transformation mandates, and additional income from government/innovation-funded research participation and educational lectures/workshops. Distribution is entirely direct: enterprise field sales, public seminars, conference presence, and thought-leadership content. Geographic reach spans Norway (Oslo, Trondheim, Drammen, Kristiansand, multiple municipalities), the broader Nordic region, Poland (via the Poland Circular Gap Report with Innowo and Circle Economy), Japan (via Fuglen-related activities in Tokyo), and select EU programs. The firm is independently owned by its founder, has no disclosed institutional investment, and operates without a software product or technology platform beyond its published methodology and project portfolio.

Name

Natural State

Legal name

Natural State

Website

https://naturalstate.no

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Natural State is a privately held Oslo-based strategy agency specializing in place development, place economy, and circular/sustainable economics. It serves Norwegian municipalities, public-sector bodies, and real estate developers such as OBOS, Bane NOR Eiendom, and Solon Eiendom through project-based consultancy, funded research, and lectures underpinned by its proprietary Springer Nature-published methodology.

Ownership category

akta.pro rank

Product category

Strategy Consulting Services for Place Development

akta.pro primary industry

Economic Development & Business Licensing (Local) (BPAIACAN)

Keywords

• Place development consulting
• Sustainable economics advisory
• Circular economy consulting
• Urban strategy services
• Place economy mapping

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Strategy Consultancy Services: Professional consultancy services for place development, place economy, market development, sustainable economics, and circular economy projects. Revenue generated through project-based engagements with municipalities, real estate developers, property companies, and public sector organizations.
2. Lectures and Workshops: Revenue generated from educational engagements including lectures, talks, and workshops on sustainable economics, place development, and circular economy topics.
3. Research and Analysis Projects: Commissioned research projects funded by government bodies and innovation organizations, such as the SirkOff project funded by Forskningsrådet (21.5 million NOK) and housing market analyses for municipalities.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

Natural State is a strategy agency that provides project-based consultancy on place development, place economy, market development, sustainable economics, and circular economy for municipalities, real estate developers, property companies, and public sector organizations. Engagements are delivered through five integrated service areas, all guided by the proprietary Natural State Method (published by Springer Nature in 2022), with revenue generated through professional services, lectures/workshops, and commissioned research.

Product overview

Natural State is a strategy agency that operates as a unified service offering rather than a software platform. The company's core offering consists of five integrated service areas: Place Development, Place Economy, Market Development, Sustainable Economics, and Circular Economy, all guided by The Natural State Method. Place Development and Place Economy form the foundation of their approach, helping clients develop and map total value potential of locations. Market Development and Sustainable Economics extend this work into business building and economic competence. The Circular Economy specialty department supports the transition from linear to circular economic models. These services work together to help develop lasting value creation at each location through circular and local economic principles.

Differentiator

Problem solved

Functional benefit

Brands

• Circular Economy by Natural State: Speciality department helping companies and organisations transition from linear to circular economy.

Products and services

• Place Development Strategy consultancy service that develops and brings to life places and urban spaces with a value and market-oriented approach, focused on place identity, multifunction, and communication. Targeted at municipalities, real estate developers, and property companies.
• Place Economy Strategy consultancy that maps the total value and income potential of a place by analyzing natural, human, and societal value before defining market value and economic potential, then develops a strategic plan over time. For municipalities, real estate developers, and public sector organizations.
• Market Development Strategy consultancy that builds new sustainable businesses and offers development strategies for companies, value chains, and the public sector. Targets organizations seeking sustainable market entry and growth.
• Sustainable Economics Strategy consultancy delivering a holistic, place-based approach to sustainable economy with competence-building and project management for sustainable value creation. Serves companies and the public sector.
• Circular Economy by Natural State Specialty consulting department helping companies and organisations transition from linear to circular economy models by implementing circular and local economic principles for lasting value creation. For private and public sector clients.
• Lectures and Talks Educational offering consisting of public lectures, talks, and workshops on sustainable economics, place development, and circular economy, delivered to organizations, municipalities, and at industry conferences.
• The Natural State Method Proprietary value-based and market-oriented methodology published by Springer Nature (2022) that maps natural, human, societal, and market values to develop strategic plans for lasting value creation at locations. Underlies all of Natural State's service offerings.

Quantifiable outcome

• Sundland Verk will become one of Europe's largest sustainable transformation areas with approximately 800 housing units and up to 288,000 square meters upon completion
• +3 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

79 partnerships are on record, tiered core, major and minor.

• SINTEFcoreStrategic or Co-development Partner · 1 January 2026SINTEF leads the SirkOff research project on circular and sustainable building management in public sector. Natural State leads work packages for mapping implementation models and developing competence frameworks.
• StatsbyggcoreStrategic or Co-development Partner · 1 January 2026Government building agency participating in SirkOff research project on circular building management.
• NTNUcoreStrategic or Co-development Partner · 1 January 2026Norwegian University of Science and Technology collaborating on SirkOff research project for circular building management.
• OsloobyggcoreStrategic or Co-development Partner · 1 January 2026Municipal building agency of Oslo participating in SirkOff research project.
• FutureBuiltcoreStrategic or Co-development Partner · 1 January 2026Innovation organization for sustainable building participating in SirkOff research project.
• De StructuracoreStrategic or Co-development Partner · 1 January 2025Collaborative partner on Urban Cross-Pollination project, bringing artists and urban developers together in Tartu and Oslo.
• Pir2 ArkitektermajorImplementation/ SI/ Consulting Partner · 1 January 2025Architecture firm collaborating on Teknostallen development, transforming former tram depot into modern office building.
• Skogen DesignmajorImplementation/ SI/ Consulting Partner · 1 January 2025Design firm collaborating on Teknostallen and Teknobyen communication and brand strategy.
• Urbania EiendomcoreStrategic or Co-development Partner · 1 January 2025Property developer for Hovfaret 13 project transforming traditional commercial building into circular urban development example.
• R21 ArkitektermajorImplementation/ SI/ Consulting Partner · 1 January 2025Architecture firm partnering on Hovfaret 13 circular urban development project.
• Fragment ArchitecturecoreStrategic or Co-development Partner · 1 January 2024Architecture firm partnering with Natural State on Inclusive City project, leading the Oslo Urban Living Lab.
• SINTEFcoreStrategic or Co-development Partner · 1 January 2024Research institution partnering on Inclusive City project within the Driving Urban Transitions (DUT) partnership.
• NTNUcoreStrategic or Co-development Partner · 1 January 2024University partner in Inclusive City project, contributing to research on inclusive public spaces.
• OBOS Nye HjemcoreStrategic or Co-development Partner · 1 January 2024OBOS Nye Hjem is the developer and client for Sota Kiosken place development project. Natural State develops concept sketches and place development strategy.
• LINK ArkitekturmajorImplementation/ SI/ Consulting Partner · 1 January 2024Architecture firm serving as responsible architect for Sota Kiosken and surrounding area development project.
• BGBeActivecoreStrategic or Co-development Partner · 1 January 2024Project lead for Sport #WithoutWaste European collaboration project. Natural State serves as expert advisor for placemaking.
• ISCAcoreStrategic or Co-development Partner · 1 January 2024International Sport and Culture Association (Denmark) partnering on Sport #WithoutWaste project for waste-free grassroots sporting events.
• ENVERÇEVKOminorStrategic or Co-development Partner · 1 January 2024Turkish partner in Sport #WithoutWaste project focusing on waste-free grassroots sporting events.
• AJSPT SuceavaminorStrategic or Co-development Partner · 1 January 2024Association Sport for All Suceava (Romania) partnering on Sport #WithoutWaste project.
• ASFASminorStrategic or Co-development Partner · 1 January 2024Serbia Association Sport for all partnering on Sport #WithoutWaste project.
• HSSFminorStrategic or Co-development Partner · 1 January 2024Hungarian School Sports Federation partnering on Sport #WithoutWaste project.
• FSHSSHminorStrategic or Co-development Partner · 1 January 2024Albanian Sport federation partnering on Sport #WithoutWaste project.
• DRMA arkitektermajorImplementation/ SI/ Consulting Partner · 1 January 2024Architecture firm collaborating on Hønefoss station area development parallel commission.
• SLA landskapmajorImplementation/ SI/ Consulting Partner · 1 January 2024Landscape architecture firm partnering on Hønefoss station area development.
• WSPmajorImplementation/ SI/ Consulting Partner · 1 January 2024Engineering and consultancy firm collaborating on Hønefoss station area project.
• Xpand EiendommajorStrategic or Co-development Partner · 1 January 2024Property developer for Hønefoss station area development project.
• GrowlabmajorStrategic or Co-development Partner · 1 January 2024Innovation partner in Varde Averøy Gnist project team.
• ANNA DesignmajorImplementation/ SI/ Consulting Partner · 1 January 2024Design firm partnering on Varde Averøy innovation project.
• Averøy municipalitycoreStrategic or Co-development Partner · 1 January 2024Municipal government partnering on Varde Averøy revitalization project.
• Ravnedalen LivemajorStrategic or Co-development Partner · 1 January 2024Festival partnering with Natural State on material flow analysis (MFA) for sustainable event management.
• Gjelsten BoligcoreStrategic or Co-development Partner · 1 January 2024Housing developer for Sinsenveien 11 transformation project.
• Nordic Circular HotspotcoreStrategic or Co-development Partner · 1 January 2024Nordic circular market transition program managed by Natural State, co-funded by Nordic Innovation. Partners include Circularities, Cradlenet, Lifestyle & Design Cluster, RISE Research Institutes of Sweden, CIRCULAR Solutions, Festa, and WholistiQ Holding.
• CircularitiescoreStrategic or Co-development Partner · 1 January 2024Partner in Nordic Circular Hotspot project for Nordic circular market transition.
• CradlenetcoreStrategic or Co-development Partner · 1 January 2024Swedish circular economy network partnering in Nordic Circular Hotspot.
• Lifestyle & Design ClustercoreStrategic or Co-development Partner · 1 January 2024Norwegian cluster organization partnering on Nordic circular transition.
• RISE Research Institutes of SwedencoreStrategic or Co-development Partner · 1 January 2024Swedish research institute partnering in Nordic Circular Hotspot.
• CIRCULAR SolutionscoreStrategic or Co-development Partner · 1 January 2024Icelandic circular solutions organization in Nordic Circular Hotspot.
• FestacoreStrategic or Co-development Partner · 1 January 2024Icelandic Center for Corporate Social Responsibility partnering in Nordic Circular Hotspot.
• Nordic Edge and DOGAcoreStrategic or Co-development Partner · 1 January 2023Nordic Edge and DOGA run the Gnist innovation program for sustainable place and business development. Natural State was part of the winning innovation team for the Varde Averøy project.
• Sol-Is arkitektercoreImplementation/ SI/ Consulting Partner · 1 January 2023Architecture firm collaborating on housing in vacant buildings project in rural districts, partially funded by Husbanken.
• Built ArkitektermajorImplementation/ SI/ Consulting Partner · 1 January 2023Architecture firm involved in Bruket Fjellhamar transformation project.
• SOLA LandskapsarkitektermajorImplementation/ SI/ Consulting Partner · 1 January 2023Landscape architecture firm partnering on Bruket Fjellhamar project.
• Lala TøyenmajorImplementation/ SI/ Consulting Partner · 1 January 2023Landscape and planning architecture firm involved in Bruket Fjellhamar and Fløysbonn projects.
• EberlinmajorImplementation/ SI/ Consulting Partner · 1 January 2023Design firm involved in Bruket Fjellhamar transformation project.
• InnowomajorStrategic or Co-development Partner · 1 January 2022Polish research institute (Institute for Sustainable Development) partnering with Natural State and Circle Economy on Poland Circular Gap Report.
• Circle EconomymajorStrategic or Co-development Partner · 1 January 2022Amsterdam-based impact organization analyzing Poland's state of circularity in partnership with Innowo and Natural State.
• Clemens Eiendom AScoreStrategic or Co-development Partner · 1 January 2022Property company (owned by Opplysningsvesenets Fond) developing Oslo Hospital historic site. Natural State developed concept and program sketch.
• Stiftelsen Oslo HospitalcoreStrategic or Co-development Partner · 1 January 2022Foundation established in 1538 managing Oslo Hospital property. Natural State engaged for concept development.
• Transborder StudiomajorImplementation/ SI/ Consulting Partner · 1 January 2022Oslo-based architecture firm working on Oslo Hospital development project.
• NSW ArkitektermajorImplementation/ SI/ Consulting Partner · 1 January 2022Architecture firm collaborating with Natural State on Sundland Verk place development strategy.
• GrindakermajorImplementation/ SI/ Consulting Partner · 1 January 2022Landscape architecture firm partnering on Sundland Verk transformation project.
• Grete JarmundmajorImplementation/ SI/ Consulting Partner · 1 January 2022Architect firm collaborating on Sundland Verk development strategy.
• Hille Melbye ArkitektermajorImplementation/ SI/ Consulting Partner · 1 January 2022Architecture firm working on St. Halvards gate 28 project, transforming historic Peik Chocolate Factory.
• Rodeo arkitektercoreStrategic or Co-development Partner · 1 January 2022Architecture firm operating Byens Tak venue and partnering with Natural State on hybrid concept development.
• FuglencoreStrategic or Co-development Partner · 1 January 2022Restaurant and coffee brand operating Byens Tak venue and related ventures in Gamlebyen.
• Postpost StudiomajorImplementation/ SI/ Consulting Partner · 1 January 2022Design agency creating graphic profile, website, and print materials for Byens Tak.
• NMBUcoreStrategic or Co-development Partner · 1 January 2022Norwegian University of Life Sciences commissioning Campus Øst feasibility study.
• EngacoreStrategic or Co-development Partner · 1 January 2022Care facility under Kirkens Bymisjon relocating to St. Halvards gate 28.
• Start GruppencoreStrategic or Co-development Partner · 1 January 2021Property company for Vakås Verk business park transformation and Gamlebyen Development.
• Selmer EiendommajorStrategic or Co-development Partner · 1 January 2021Property company partnering on Vakås Verk development project.
• Arena OslomajorStrategic or Co-development Partner · 1 January 2019Innovation cluster program where Natural State was involved in culture program for Urban Future Global Conference.
• Future BuiltmajorStrategic or Co-development Partner · 1 January 2019Innovation program for sustainable city development partnering on Urban Future Global Conference.
• Kulturbyrået MesénmajorImplementation/ SI/ Consulting Partner · 1 January 2019Cultural consultancy partnering on Urban Future Global Conference culture program.
• Emergance ProjectsmajorImplementation/ SI/ Consulting Partner · 1 January 2019Project management consultancy partnering on Urban Future Global Conference.
• Aspelin RammmajorStrategic or Co-development Partner · 1 January 2018Property company for Share Myntgata 2 temporary activation project.
• Concept SHAREcoreStrategic or Co-development Partner · 1 January 2018Concept initiator for co-working temporary activation in fortress building.
• Oslo WorksmajorImplementation/ SI/ Consulting Partner · 1 January 2018Consultancy firm partnering on Share Myntgata 2 project.
• Norwegian IconsmajorStrategic or Co-development Partner · 1 January 2018Design agency providing vintage furniture for Share concept.
• Emergence ProjectsmajorImplementation/ SI/ Consulting Partner · 1 January 2018Project management consultancy partnering on Share Myntgata 2.
• Emergence School of LeadershipmajorStrategic or Co-development Partner · 1 January 2018Project management school where Natural State serves as strategic advisor.
• Start GruppencoreStrategic or Co-development Partner · 1 January 2017Co-initiator and partner in Gamlebyen Development neighborhood transformation project.
• MESHmajorStrategic or Co-development Partner · 1 January 2015Startup community hub where Natural State served as strategic advisor for physical space development.
• Norwegian IconsmajorStrategic or Co-development Partner · 1 January 2015Design agency collaborating with Natural State on MESH Oslo concept development.
• Innovation NorwaymajorStrategic or Co-development Partner · 1 January 2015Government innovation agency partnering on Arena Oslo cluster program.
• Norwegian Innovation ClustersmajorStrategic or Co-development Partner · 1 January 2015Innovation cluster organization partnering on Arena Oslo program.
• Oslo Business RegionmajorStrategic or Co-development Partner · 1 January 2014Natural State was recruited as special advisor and project manager by Oslo Business Region for brand management strategy processes involving 1196 stakeholders.
• OsloregionenmajorStrategic or Co-development Partner · 1 January 2014Natural State functioned as project manager for Oslo Region brand management strategy processes with involvement of 1196 stakeholders.
• Oslo WorksmajorImplementation/ SI/ Consulting Partner · 1 January 2014Consultancy firm collaborating with Natural State on NMBU Campus Øst feasibility study.
• EditmajorImplementation/ SI/ Consulting Partner · 1 January 2014Planning and landscape architecture firm partnering on NMBU Campus Øst project.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Ramboll: Major Nordic engineering, design, and sustainability consultancy. Overlaps with Natural State's sustainability and urban transformation work but offers a much broader service portfolio and global scale.
• Snøhetta: Norwegian-headquartered architecture and place-making firm with strong sustainability credentials. Overlaps with Natural State's place development work but operates at significantly larger scale and as a broader design practice.
• Asplan Viak: Norwegian planning, engineering, and environmental consultancy with deep municipal relationships. Comparable on Norwegian urban planning, housing market analysis, and municipal advisory engagements.
• White Arkitekter: Leading Nordic architecture firm with a strong sustainability agenda. Comparable on place development and circular building projects in Scandinavia, though operating as a full architectural practice rather than a strategy consultancy.
• Norconsult: Largest Norwegian engineering and planning consultancy. Comparable on Norwegian municipal advisory, sustainable building projects, and place development strategy at greater scale.

Direct peers

• Circle Economy: Amsterdam impact organization producing the Circular Gap Report series and advising on circular economy strategy. Direct peer to Natural State, having even co-partnered with them on the Poland Circular Gap Report.
• Metabolic: Amsterdam-based consultancy advising governments and businesses on circular economy transition and sustainable systems. Closely comparable to Natural State's Circular Economy specialty department and Sustainable Economics service line.
• Gehl Architects (Gehl): Copenhagen-based urban design and place-making consultancy that pioneered people-centered place development methodologies. Directly comparable to Natural State's Place Development and Place Economy offerings, with similar focus on mapping human and societal value of urban spaces.

Others

• SLA (Stig L. Andersson): Copenhagen-based landscape and urban design firm. Comparable as an implementation partner on place development projects (Natural State already partners with SLA landskap on the Hønefoss station area development).

Regional players

• SITRA: Finnish Innovation Fund running the Nordic Circular Economy program. Comparable on circular economy thought leadership and Nordic-level program management, though operating as a public fund rather than commercial consultancy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/naturalstateas
• LinkedInlinkedin.com/company/naturalstate

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Natural State