“Have we simply fallen into the welfare trap?” asked Emil Gejrot, Senior Advisor at Nordic Innovation, while moderating the panel discussion Från innovation till globalt genomslag at Almedalsveckan.
The discussion was based on the newly published study Barriers to Commercialization in the Nordic Countries. Nordic companies are falling behind when it comes to bringing new products to market. The study explores the reasons behind this trend, highlighting four key barriers to commercialization:
1. University and research system barriers.
2. Financial and capital barriers.
3. Market size and human capital barriers.
4. Regulatory and governance barriers.
The report was commissioned by Nordic Innovation to provide concrete insights into the barriers Nordic companies face when moving from new innovations to market. It contributes to the broader discussion on Nordic competitiveness. In his opening remarks, Sindre Bornstein, CEO of Nordic Innovation, said:
“Competitiveness has the potential to become a fluffy concept. Today, however, we will focus on what truly makes a difference. One of the key challenges we see across the Nordics is that many companies struggle to move from the startup phase to scaling.”
A Nordic market for public procurement
The panel featured Jonas Erraia from Menon Economics, Sara Walling from the Chalmers University Foundation, and the Danish Ambassador to Sweden, Jens Kisling.
A key theme of the discussion was the need to create a larger Nordic market. Individually, the Nordic markets are too small which makes them less attractive.
Jonas Erraia from Menon Economics said:
“One of the recommendations we put forward in the report is to create a larger Nordic market. For example, a common Nordic market for public procurement with harmonized legislation and standards. I believe there is significant potential in that.”
The panel also discussed the potential for a Nordic capital markets union. Jens Kisling, Danish Ambassador to Sweden, said:
“Can we create a common capital market? What about a common Nordic stock exchange? Perhaps that is something we could collaborate on.”
The discussion also highlighted the importance of the EU. Sara Wallin, Group CEO of the Chalmers University Foundation, said:
“We need a coalition of the willing, and this coalition should start working on an EU Inc.”
Jens Kisling added:
“The EU plays a crucial role. At the same time, the Nordic countries have become much stronger. The Nordic EU member states should do a much better job of collaborating and coordinating their efforts within the EU.”
Thanks to all the panelists for a valuable discussion.
The report 'Barriers to commercialization in the Nordic countries' can be downloaded here
