Nordiska flaggorna på en blå himmel och Peter Munch-Madsen Senior Advisor Nordic Innovation.

Unlocking Nordic Potential: Nordic Innovation's 50-Year Journey Towards Sustainable Growth


In the heart of the Nordic Council of Ministers lies an often unsung hero, Nordic Innovation, an organization dedicated to propelling the Nordic region towards sustainable growth. Established in 1973, this year marks their 50th anniversary, and the organization is eager to demonstrate results of its operations. In this article, we delve into how Nordic companies can benefit from the initiatives and support provided by Nordic Innovation.

Nordic Innovation serves as a business catalyst and enabler, fostering collaboration and ecosystems across the Nordic region. The ambition vision aligns seamlessly with the Nordic prime ministers' ambitious vision to transform the Nordics into the most sustainable and integrated region globally by 2030. The organization actively supports entrepreneurship, innovation, and competitiveness in Nordic businesses, aiming to leverage the collective strength of the Nordic countries.

Their core belief is that the Nordic countries are stronger together, and by capitalizing on shared values and complementary competencies, they create a unique foundation for innovation. Nordic Innovation brings together businesses, individuals, and organizations to facilitate the development of solutions and innovations that not only benefit Nordic inhabitants but also have a positive impact on the global stage.

Situated in Oslo, Norway, the organization operates with a team of 15 highly qualified professionals representing all Nordic countries. Their expertise spans various business areas and industries, providing a well-rounded approach to their initiatives which spans from Nordic green mobility, life science and Health tech, to circular economy, sustainable minerals and tourism in the Nordics. The overarching theme for the organization’s programs is enabling of Circular Business Models among the Nordic countries.

Circular Economy: A Focal Point for Sustainable Innovation

In 2024 Nordic Innovation places a spotlight on the Nordic Sustainability Expo, with a particular focus on the circular economy. Recognizing the region's unique strengths—ranging from biological resources and technological expertise to a competitive industry and a well-educated population—they believe the Nordics can lead the way towards a circular economy. By supporting projects and initiatives centered around the circular economy, Nordic Innovation aims to harness the Nordic region's potential for sustainable development. 

Some of initiatives that received funding from Nordic Innovation so far, are for example Nordic Blockchain Alliance, Nordic Circular Economy Playbook 2.0, World Circular Economy Forum 2023 and 2024 , building of a to mention some.

For Nordic businesses aspiring to be at the forefront of innovation, Nordic Innovation is a valuable ally on the path to a greener and more prosperous tomorrow. 

Peter Munch-Madsen is Senior Advisor at Nordic Innovation and he looks forward to partnering with Nordic Sustainability Expo at Stockholmsmässan in May 2024. In particular he has high expectations for supporting the event that will enable Nordic actors in sustainability and circular economy to convene for sharing and developing ideas, networks and business opportunities. Nordic Innovation constantly strives to support the vision of the Nordic Council of Ministers of making us the most integrated and sustainable region by 2030. No doubt the clock is ticking against all of us in terms of moving on sustainable business and livings. We need to speed up actions significantly and show that the Nordic countries takes the lead in the alarming need for global action.

Nordic Innovation works with Nordic businesses, start-ups, venture capital, industry organizations, universities and policy makers to promote sustainable business and entrepreneurs. We can’t change a regional nor a global situation without the interplay between the mentioned Nordic actors and hope we will see great support to attending the NSE24.