Friday, September 02, 2016

Denmark's Startup Scene Is Record Hot - And The Öresund Region's Ecosystem Is Flourishing

Via Business Insider:

The first half of 2016 has seen record activity in Danish startup investing – a total of 57 investments have been made in Danish tech startups during the period. During the summer, Denmark saw to major exits in Autobutler and Game Analytics, and Unity Technologies – a popular game developing platform – even rose to the mythical status of unicorn.

"Danish startups are currently on course for 100+ investments for the first time in a calendar year in 2016. This is remarkable growth, and demonstrates an ecosystem that is truly on the rise, with Copenhagen at the heart of it”, says Neil Murray, founder of the venture capital database The Nordic Web.

The 57 investments so far in 2016 totaled almost $184 million. That represents a significant increase in momentum compared to 2015, when investments numbered 65 and totaled $274 million for the whole year. And going back to 2014, there were only 38 investments totaling $180 milllion according to data from The Nordic Web.

It’s safe to say a lot is happening on the Copenhagen startup scene.

The figures may speak for themselves, but there are other indicators Copenhagen is heating up. Just-Eat, Skype, Momondo, Trustpilot, Sitecore and Tradeshift have all put Denmark on the map in recent years.

Along with the growth on the scene its actors and agents have become more organized. Copenhagen For The Win (CPHFTW) functions like a trade organization for startups. It was founded in 2013as a grassroots movement, and the idea is to work together to improve the business ecosystem around Copenhagen with matchmaking, investor- and mentoring initiatives. CPHFTW is now active in the whole transnational Øresund Region, comprising eastern Denmark with Copenhagen and the southern Swedish region of Scania, with Malmö.

“We are representing all of Denmark and southern Sweden. All the startups that are part of the community don’t actually consider themselves as Danish or Swedish, but Nordic. People are participating and driven by self-interest, that’s why it works”, Christoffer Malling, CEO of CPHFTW, tells The Nordic Web.

132 tech startups from the region are already part of the organization, and this year the collaboration has resulted in a startup festival called Copenhagen Tech Fest, spanning throughout September, and anticipating 10.000 attendees.

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