Looking Back and Looking Ahead with Jan Nooitgedagt, Chair of the Supervisory Board

Balancing Globalization with Domestic Industry

“The question of whether globalization is a force for good or whether we need to more actively defend our domestic industries is more relevant than ever,” Jan Nooitgedagt begins. “We’re questioning everything—within Invest-NL, but really across society as a whole. What remains clear is the shared conviction that the necessary transitions must continue—especially when it comes to sustainability in general, and phasing out fossil fuels in particular. There is growing pressure to compromise, but we have a responsibility to the future. Our mission for a sustainable future outweighs short-term concessions.”

He points to the current economic context: “With a historically low national debt, there is fiscal room to invest. Returns should not only be financially sound but must also generate social value. The argument that financing isn’t available must never become an excuse to avoid embarking on crucial transitions.”

Proud of Invest-NL’s Growth

“One of our most important roles as the Supervisory Board is to serve as a sounding board for the Executive Board. We’ve evolved from a single executive to a three-member board, and I’m incredibly proud of the current leadership team. We’re only five years in and, in many ways, still a start-up. And yet, Invest-NL has become indispensable to the Dutch business community in a remarkably short time. That wasn’t the case three or four years ago. We shouldn’t pat ourselves on the back too much—but the reality is that we’ve made our mark. That’s thanks to the commitment of all our employees and the trust we’ve received from our stakeholders.”

Challenges and Future Vision

“Effective management of our portfolio companies is becoming increasingly critical. There is growing focus on the existing portfolio, and at the same time, we must ensure we continue to attract bright, young talent. Our strength lies in the consensus around our strategic direction. We must keep the conversation going internally to ensure processes remain effective and efficient. Debate is healthy, but it must lead to concrete decisions.”

Here, Jan sees a key role for leadership within Invest-NL: “Good management is about creating trust in the decisions that are made. I foresee headwinds ahead in the area of sustainability and the pace at which we aim to green the economy. But our investments inherently have longer time horizons. In fact, we might need to raise our impact ambitions rather than scale them back.”

Invest-NL as a Broad, National Financing and Development Institution

“To achieve our objectives, we can’t rely solely on start-ups and scale-ups; we must further incentivize the private sector to participate,” Jan says, reflecting on the Supervisory Board’s discussions around expanding Invest-NL’s role. “There is strong support within the Supervisory Board for broadening the scope of Invest-NL. This means more resources, a wider mandate, and exploring a possible integration with Invest International. Our precondition is that the quality of people and processes must remain safeguarded. That’s all the more important given that we work with public funds. Diligence is always paramount, but efficiency must lead the way.”

He adds: “We shouldn’t focus too much on internal developments. Our external role—our role in the market—is absolutely essential.”

Lessons and Legacy

“What I’m most proud of is the human aspect of our growth. The timing has worked in our favor, too; the role of government in the business sector is increasing, and that’s a good thing. Society’s risks can’t be shouldered by businesses alone. Invest-NL really has the potential to make a difference here. I’ve learned a lot during my five years with Invest-NL.”

Jan emphasizes the central role of people in organizations: “Ultimately, everything comes down to people and relationships—both within and outside the organization. In the early days, there were quite a few voices saying they didn’t see the need for Invest-NL. And you learn that organizations grow at breakneck speed and that not everyone can keep up with that pace. That leads to renewal, which is a healthy development in itself. We’ve also learned how vital leadership capacity is. Public support has grown alongside our evolution.”

Advice for His Successor

“I hope the focus remains sharp. We must be careful not to spread ourselves too thin, and keep our impact front and center. Expectations and delivery must stay in balance, and we must not lose sight of our mission. And let me say it once again: returns are too often viewed through a purely financial lens, but there’s also a societal profit and loss account. That too must remain in balance, and that requires constant attention. Government and Invest-NL must ensure the market functions—even in transitions where the risks are high. Sometimes we bear the financial risk, but the contribution to societal return can be so much greater.”

Jan Nooitgedagt looks back with satisfaction, concluding with a warm smile: “When I was asked to take on this role, I thought to myself, ‘Now I finally get to do something truly meaningful.’ I’m genuinely grateful for the journey I’ve shared with Invest-NL.”