Strengths and weaknesses of the Norwegian startup scene

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    1 E6 A0103
    Nicolai Klemeyer Smith

“Turns out that Scandinavia is more than just Sweden” — quote from international VC investor.


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As most people know, Sweden, and especially Stockholm, has been a breeding ground for successful technology startups in recent years, but guess what?! There are other interesting countries in Scandinavia when it comes to aspiring startups.

Through my work with Arkwright X I have witnessed a blooming Norwegian startup ecosystem with lots of potential, creating opportunities for investors and entrepreneurs. Norway has a solid foundation for building a highly successful and thriving startup scene, but some challenges need to be tackled to boost the startup ecosystem even further.

In this article I have shared my view of the highly interesting and promising Norwegian startup scene and hopefully I will engage you to become a part of the Norwegian startup ecosystem, if you aren’t already. I have described what I believe to be the major strengths of the Norwegian startup scene and pinpointed what I think are the largest improvement areas going forward.

Key strengths of the Norwegian startup scene

  1. Lots of early-phase capital
  2. Well-educated workforce
  3. Strong governmental support
  4. High digital penetration and digital readiness
  5. Rapidly evolving startup ecosystem

Improvement areas for the Norwegian startup scene

  1. Challenging to quickly build a world-class workforce
  2. Lack of ‘recycled startup talent’
  3. Inflated early-phase valuations

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