Wednesday, October 12, 2016

Nordic Startup Organizations Just Started A Joint Fund - To Turn The Region Into "A Global Startup Ecosystem"

Via Business Insider:

As part of the second #NordicMade trip to New York, the delegation of prominent entrepreneurs and central figures within the Nordic startup ecosystems rang the bell to open Nasdaq yesterday morning in New York. In doing so, a new $1.67 million fund for the promotion and support of the Nordic startup ecosystem was inaugurated.

The fund is fittingly called Rising North - the $1.67 million is to be used 'to support the internationalization of the startup ecosystem in the Nordics over the next three years'.

The Nordic region is already known for spewing out successful startups and and a disproportionately large amount of tech unicorns, but with increasing collaboration between the national startup ecosystems the plan is to cement the Nordic region's status as world leading. The Rising North will fund projects that boost the region towards 'a global startup ecosystem'.

“In the Nordics we work hard, we are extremely loyal to our company or our cause and we love technology. It is therefore no surprise that the Nordics have produced a string of very successful technology companies. During the last five years, the Nordics, which account for only 4% of the European population, have produced over 25% of all European exits”, Helga Valfells, CEO of NSA Ventures, Iceland, and Steering Board Member at Rising North said in her keynote speechat the launch.

There is an increasing tendency towards internatinal cooperation on the Nordic startup scene. Slush, the biggest player, notably supports the organization of other events in the region, like Denmark's biggest tech event, the TechBBQ.

Slush is also the main organizer of the #NordicMade trip, but many of the other central organizations for the national startup ecosystems are also on board: Aaltoes and Startup Life from Finland, SUP46 from Sweden, Icelandic Startups from Iceland, #CPHFTW from Denmark, as well as MESH Norway and Startup Norway.

But beyond strengthening ties between those organizing the trip is also an opportunity for eleven entrepreneurs to come to New York and accelerate their businesses by showcasing them to US East Coast venture capitalists and tech media.

All five Nordic countries were represented by the startups: Leadfeeder, PromoRepublic and Solu from Finland, Iris AI and DXTR Tactile from Norway, Corti and Zigna from Denmark, It’s My Styl and Optolexia from Sweden, and Watchbox and Sling from Iceland.

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