The Nordic countries are integrated in an otherwise fragmented world. In a global context, the Nordic countries are small, and the Nordic region as a whole is economically strong, representing a significant, technologically advanced market.
In his "An Integrated and Effective Nordic Ecosystem for Innovation and Green Growth" report, Idar Kreutzer proposes 16 recommendations for what the Nordic region should do to attract more venture capital
One of his findings is that the Nordic region is significantly more attractive to financiers as a single unit than any one Nordic country. If the Nordic countries are to compete with similar regions they must focus more heavily on integration.
Nordic Innovation agrees with this analysis and is working towards solving some of the obstacles through the Nordic Scalers program– Svein Berg, Managing Director, Nordic Innovation
Kreutzer's findings resonates well with Nordic Innovation's work on increasing innovation, entrepreneurship and competitiveness in Nordic companies. Attracting capital is among the challenges Nordic companies face.
Scaling the best
“The report documents that Nordic companies experience difficulties in accessing capital in the early- and growth stages. The public sector should develop common models and solutions to solve these issues. Nordic Innovation agrees with this analysis and is working towards solving some of the obstacles through the Nordic Scalers programme”, says Svein Berg, Managing Director at Nordic Innovation.
Nordic Innovation initiated the Nordic Scalers program to help high-growth companies prepare and accelerate their next stages of growth. The program is implemented as a public-private pilot project, running from 2017 to 2019.
The touch-points of the program come in the form of annual scale-up summits, local scale-up sessions and a 10-week intensive coaching program called Nordic Scale-Up Lab, targeted at the most exciting and ambitious scale-ups in the Nordic region.