New Nordic Impact Startups 2023 report

Published 12 October 2023


Danske Growth, a part of Danske Bank, has published their new Nordic Impact Startups 2023 report.

Key takeaways include:

  • Nordic impact leadership: The Nordics, especially Sweden and Stockholm, lead the global impact space, with 38% of funding allocated to impact startups, significantly surpassing Europe (22%) and the US/Asia (less than 10%).
  • Resilience amid slowdown: Despite a 50% slowdown in funding in H1 2023, Nordic impact tech remains resilient. Impact and climate tech sectors outperformed the overall market in 2022, displaying higher conversion rates to Series A and beyond.
  • Transportation and energy have dominated, but new segments emerge: The Nordics, leaders in climate tech, have secured 30% of European funding in this sector since 2015. While transportation and energy have historically dominated, emerging segments like blue economy and carbon tech are gaining ground.

Read the full report here.