Sustainability is a fundamental aspect of the Nordic innovation landscape, with Finland, Sweden, and Denmark ranking among the top three in the 2024 SDG Index for their climate initiatives.

The Nordics are at the forefront of impact-focused startups, directing 38% of all startup funding towards impact ventures, significantly higher than the 22% in Europe and less than 10% in the US and Asia.

In 2024, Nordic startups achieved a record $2.4 billion in funding for deep tech innovation, with significant investments in companies like Stegra and Veevt.

The region has experienced remarkable growth, increasing from 9 unicorns in 2014 to 82 in 2024, solidifying its status as a global innovation hub.

According to Dealroom data, the Nordic startup ecosystem is now valued at $552 billion, a staggering 16-fold increase from a decade ago.

In 2024, Nordic startups attracted a total of $8.2 billion in venture capital funding, with a notable $388 million already raised in 2025, and two-thirds of this investment coming from international sources.

Nordic Science Investments has launched as the first fund specifically aimed at creating spinouts in the Nordics, focusing on early commercial development.

Impact funding for climate technology has surged since 2016, with the energy sector alone attracting over $1.2 billion in 2024.

Mikko Paananen, CEO of Aisti, highlights the ecosystem's strong emphasis on collaboration among startups, academia, and established industries, which is crucial for advancing sustainable materials.

Nordic governments actively support startups through initiatives like Nordic Innovation, which funds sustainable entrepreneurship, and the Nordic Culture Foundation, which provides grants for collaborative projects.

Finland boasts a broadband internet penetration rate of 97%, ensuring high-speed access even in rural areas, which is vital for fostering digital innovation.

The Nordic funding ecosystem is characterized as conservative and metrics-focused, resulting in smaller funding rounds and cautious valuations.