This project constituted a feasibility study for the establishment of a Nordic Scaleup Centre (NSC). It was commissioned by Nordic Innovation and conducted by 4FRONT and EFIS Centre. The study covered several aspects including a potential scope, focus and objectives of the Centre, its organisational and ownership structure as well as a financing model for both the short-term and long-term period.
As part of the study, a total of 37 stakeholders representing different organisations and stakeholders from all Nordic countries, such as public authorities (ministries, agencies), private investors (VCs, banks), research organisations (universities, business schools) as well as grassroot level actors (e.g., associations, networks), were interviewed. EFIS Centre conducted a benchmarking exercise bringing lessons and good practices for NSC from UK ScaleUp Institute, the Erasmus Centre for Entrepreneurship in the Netherlands, Start-up Nation Central in Israel, AustrianStartups and Kasvuryhmä/Growth Collective in Finland.
Based on the study findings, there is a clear need to raise awareness and increase the knowledge base around scaleups. The study recommends that efforts are made to establish a Nordic Scaleup Centre by following a step-by-step without establishing a permanent organisation until the model has been validated and piloted.