In the last years, there has been a focus on how to help and nurture startups in the Nordics. This has made the Nordic region one of the best in the world when it comes to starting and developing new companies. Even though the Nordic countries are above OECD average to start new companies, the challenge is that they seldom grow to scale or reach their full potential. For these reasons, Nordic Innovation developed an initiative called Nordic Scalers, which began in 2017 and supported 33 of the most promising and fast-growing scaleups in the region. These scaleups came from different industries with annual revenues ranging from 2M€ to 18M€.
”It’s no secret that scaling a company is extraordinarily difficult and founders and the management teams face multi-faceted challenges as they attempt to fulfill their ambitions. Now, in times of the Covid-19 pandemic we felt that it’s important to show continued support for the Nordic Scalers Alumni and highlight some of the most impressive responses to the crisis”.Anna-Maija Sunnanmark, Senior Advisor at Nordic Innovation
As such, this pamphlet puts a spotlight on 10 of the 33 Nordic Scalers Alumni each of whom have their own unique story to tell when it comes to scaling in the face of Covid-19. Together, these companies represent almost €50m in annual turnover, employ over 500 people, and project continued revenue growth in the coming 18-months at an average rate of +160%.
We hope that these scaleups become a source of inspiration for companies all throughout the Nordics both in terms of how they have been able to continue to grow despite the circumstances and how they have been able to renew their business models and find novel ways of operating and new partnerships despite the pandemic, Anna-Maija Sunnanmark.