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Nordic Startup Growth

This article is written by Clinton James, a Contributor Author at Startup Turkey.

Martin Van Haller Groenbaek is a Partner of Bird & Bird Company based in Silicon Valley and brings out the agenda of Nordic as a successful story, having built a tech ecosystem and lowered transaction cost in angel investments. This case study has proof through running an effective community. His background is that of a lawyer, an angel investor and enjoys building and improving communities among many others.

Addressing about similar languages across borders as much as we all consider ourselves to be in a same region, there is still fierce competition within us. There is always a comparison to confirm this as Martin Van Haller Groenbaek, a Partner of Bird & Bird Company based in Silicon Valley, reveals the agenda as a success story that builds technology that enhances ecosystems and lowers transaction costs for angel investors. This case study has evidence through community management though his experience as a lawyer and angel investor.

During Startup Turkey’s event, he emphasizes that we should evolve ourselves as individuals and has seen it as a region especially in Denmark, and is among veterans such as Sweden and Finland, for whom the example of the bridge between Sweden and Denmark contribute as a major impact into collaborating especially in the businesses and bringing the aspect of togetherness, especially in the business world and in uniformity.

In terms of Nordic numbers, every Nordic country’s per capita nominal Gross Domestic Product was at top 16 in 2014, and combining Gross National Product at that time was $ 1.7 trillion. It is the seventh to eighth largest economy in the world with around 3.4 million square kilometers, including Greenland being the largest island, hence making Nordic Community the seventh largest community in the world, with a population of around 26 million in the North.

The Nordic Internal Market is part of the EU’s internal market and has almost identical history, language and culture in its environment. Including the legal infrastructure with almost the same law between Denmark, Sweden and Finland. The scale of corruption is very low and makes domestic trade and exports the easiest.

As a result, Sweden, Denmark and Finland are also among the 10 most innovative countries in the world. All this confirms that because of good network readiness, business is easy to do and Scandinavian communities are mostly economically costless.

The introduction of Nordic technology has proven to be very innovative because it represents the legend of innovative, world-class, and innovative technology in various sectors, especially e-commerce, web applications, games, ERP, e-government, hardware, health and fintech. A good example of this kind of innovation is Linux computer software.

Following the opening of centers as hubs in Helsinki, Stockholm and Copenhagen, there are many success stories because this Scandinavian startups were born regionally but globally. By accessing the integration of diversified human and financial resources, their geopolitical stability is well developed to facilitate offspring and sustainable growth.

This shows Nordic investors, who display a lot of funds, estimable. Demand versus Supply has encouraged few local VCs but many international VCs, less government dependence, but with limited local market for companies to exit.

On maintaining 3% of Europe’s population, Scandinavia has absorbed eleven percent of European investment in the Baltic Sea, Gulf of Bothnia and North Sea region and has increased that amount to $ 3.9 billion in the past 10 years, established a research by Creandum.

16 July 2019

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