Nordic Innovation, in cooperation with Nasdaq, launched Nordic Scalers 2.0 in April 2021 with three new programs for scaleups in the Nordic region.
“We believe that tailormade support and cross-Nordic peer-to-peer networks will contribute to our overall objective of developing the Nordic region as a globally leading scaleup hub and in ensuring more Nordic success stories”, says Senior Innovation Adviser Anna-Maija Sunnanmark from Nordic Innovation.
Nordic Scalers 2.0 is based upon the learnings from the Nordic Scalers pilot and will be implemented in cooperation with Business Finland, Innovation Norway, the Danish Business Authority, Vinnova and the Icelandic New Business Venture Fund.
All the three programs are run by experienced cross-Nordic teams involving partners who have validated the program concepts on a national level. The programs will help Nordic scaleups manage and accelerate their next stages of growth, and will focus on competence building, involving coaching, mentoring and networking elements.
The objective is to build the world’s best scaleup ecosystem for learning, peer knowledge sharing, hands-on support and developing networks. This is achieved by delivering a program which brings a fragmented market together, stays true to the scaleup needs and focuses on helping scaleup founders and entrepreneurs to create more wealth and jobs in society as they grow their companies to become some of the biggest exports from the region.
The team believes that the secret ingredient, which they hold, is that the program is delivered by world-class scaleup entrepreneurs (coaches and inspiration) who have scaled tech companies.
The program is created by Epicenter Stockholm in partnership with our consortium partners Canute (DK), Tequity Cluster (NO) and Aalto Startup Center (FI) and supported by Epicenter Oslo & Epicenter Helsinki.
Nordic Scalers GlobalScaleX is a three-month growth camp for fast-growing technology companies who want to build capabilities for International expansion. With our experts, mentors, entrepreneurs, and investors, you will save years of work by getting all the possible help during the three months in GlobalScaleX.
Nordic Scalers GlobalScaleX offers on-point learnings and tools focusing on the challenges that scaleup companies are facing. Learnings are implemented right away to the business. The program is co-designed by Aalto University Executive Education Ltd (Finland) and BI Norwegian Business School with Nordea Startup & Growth, and Department for International Trade (UK).
Nordic Scalers ScaleUp Academy is a one-year program that includes 11 monthly digital workshops that go through the critical steppingstones for a growing company. The program is based on the Di ScaleUp program, which has successfully scaled up 60 Swedish companies during the last three years.
With the program’s guidance, scaleup companies can move forward and avoid falling into the so-called valleys of death of business growth. The program consists of an 11 workshops, one-to-one mentoring and peer-to-peer support and is run by Di ScaleUp (SE), Verona Growth (FI), ScaleUpXQ (NO), StartUp Foundation (FI) and Maria01 (FI).
Why support Nordic scaleups?
Scaleups are companies growing rapidly, with specific requirements for talent and skills, management and leadership, access to markets, customers and finance. This group of companies account for an above-average proportion of economic growth in the Nordic region, but generally lack support structures.
With more support, scaleups can become significant agents of change and solve societal challenges and function as instruments for both recovering and boosting our economies. Making the Nordic region an attractive place for scaleups to operate in also reduces the chance of Nordic growth companies being sold out abroad too prematurely.
The three programs are supported by the Nordic Scalers steering group, consisting of Nordic national agencies and private sector members.
What is a scaleup?
We are working with the following definition of a 'scaleup':
- Annual revenue at minimum of EUR 2 million
- Personnel of at least 10 people
- Annual growth figures of at least 20% in the past three years.
Nordic Scalers 2.0 vision and goals
With Nordic Scalers 2.0, Nordic Innovation aims to address the perceived gaps in the Nordic entrepreneurship ecosystem. Nordic Scalers 2.0 is based on learnings from the Nordic Scalers pilot (2017 – 2019) and the recommendations from its external evaluation. The Nordic Scalers pilot demonstrated that growth skills and competences can be developed and that there is a need for this kind of support among the Nordic scaleups.
The overall goals for Nordic Scalers 2.0 are to:
- Provide support at Nordic level to help scaleups accelerate and manage their next stages of growth through access to competences, connections, customers, and capital,
- Enhance Nordic scaleup community building,
- Brand the Nordics globally as a leading scaleup hub,
- Raise awareness and increase the knowledge base around scaleups,
- Increase collaboration and shared learning among key stakeholders, both public and private.