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1、LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONTILES WITH SHADOWALIGN HERE TEXT BOXESUSE THESE FOR ANY TEXT BOXBUTTONSALIGN HEREPALETTESALIGN HERE TILES/POINTERSALIGN HERE Nordic Impact Startups 2023Sept 202

2、3FINTECHIMPACTMRKTPLCSFOODTECHDEALROOMSIGNALTitle H1SubtitleParagraphValuesCaptionCall to actionCall to actionTitle AdsCover TtlQuoteWit titleNNNNAlso good to look here for templates and ideas for the nordicsPage/2 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EX

3、TRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONPrevious reports:Nordic Impact Startups 2022 Impact startups 2022 reviewFood for Climate 2022To read the previous edition of this report,click hereDESIGN CONTENTNordic Impact Startups 2021 Previous reports:To read the report Nordic Impact Startu

4、ps 2022 click hereNordic Impact Startups 2022 Impact startups 2022 reviewFood for Climate 2022Nordic Impact Startups 2021 Page/3 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONKey TakeawaysThe Nordics are le

5、aders in the impact space,Sweden and Stockholm are leading hubs.The Nordics are the most impact-focused region in the world with 38%of funding going to impact startups,compared to 22%for Europe and less than 10%for US and Asia.The four major nordic countries rank amongst the top 11 countries by tota

6、l and early-stage funding with Sweden leading on most metrics,followed by Norway.At city level,Stockholm is the top hub for impact funding in Europe,Helsinki is also in the top 10 both by total and early stage funding.Although impact funding has suffered the funding slowdown in the Nordics,it is sho

7、wing more resilience and strong historical performance.2023 is showing a significant slowdown for Nordic impact tech funding with$1.2B in H1 2023,a nearly 50%drop from 2022,in line with the broader VC market.Impact,and climate tech,held on better than the overall market in the slowdown last year,bot

8、h as overall funding and early-stage.Impact startups in the Nordics are also showing higher conversion rates to Series A and beyond.Transportation and Energy have dominated Climate Tech funding in the Nordics,but new segments like Blue Economy and Carbon tech are emerging.The Nordics are leaders in

9、Climate Tech,attracting 30%of European funding in the segment since 2015.Most of the funding have been attracted by B2B oriented manufacturing/deep tech startups.The cluster which attracted the most funding by far are Transportation&mobility(including EV battery like Northvolt)and Energy.Other emerg

10、ing Climate Tech segments are gaining traction in the Nordics such as Blue Economy and Carbon Tech.DESIGN CONTENT36%22%8%7%NordicsEuropeAsiaNorth AmericaImpact investment as a percentage of total VC funding(2023)201820192020202120222023VC investment in Nordic Impact startups by yearEurope has grown

11、from a footnote on the tech scene in the early 2000s to a global tech challenger.Key pillars for Europe success in the next 20 years of techHalf of the worlds top science clustersStartup Mafias creating new generation of seasoned founders.Attracting nearly 20%of total funding and nearly 30%of seed s

12、tage one2021 was the most active year overall with$5.5B in VC funding,however 2022 reached the highest investment mark when excluding Northvolt.Total amount of climate tech investment per cluster(2020-2023)$7.6B$4.1BTransportation&mobilityEnergyCircular economyFood&LandTotal amount of climate tech i

13、nvestment per cluster(2020-H1 2023)$2.4B$1.2B$4.3B$5.5B$2.0B$1.8B$610MBuilding&infrastructure$0.9B$1.2B$1.2BPage/4 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONName RoleName RoleCamilla FalanescaImpact Inn

14、ovation AnalystFor more than 150 years,Danske Bank has helped enable growth and development in society.We have developed in tandem with the societies we are part of,and our advisory services,expertise and financial solutions have helped individuals,families,businesses and organisations to realise th

15、eir ambitions and potential.With long-term sustainable development as our ambition,we will continue to work every day to be the best possible bank,for the benefit of our customers,employees,shareholders and the societies we are part of.Name RoleName RoleCo-authors:Lorenzo ChiavariniThematic Research

16、 LeadGlobal startup&venture capital intelligence platform:Dealroom.co is the foremost data provider on startup,early-stage and growth company ecosystems in Europe and around the globe.Founded in Amsterdam in 2013,we now work with many of the worlds most prominent investors,entrepreneurs and governme

17、nt organizations to provide transparency,analysis and insights on venture capital activity.xxRoleInvest Stockholm is the official investment promotion agency of Stockholm.We work with the marketing and development of the Stockholm region as a business destination under the brand Stockholm The Capita

18、l of Scandinavia.Invest Stockholm is a subsidiary of Stockholm Business Region,owned by the city of Stockholm.We are dedicated to promoting and developing our city as an attractive and sustainable destination for business,international investors and talents.Global startup&venture capital intelligenc

19、e platform:Dealroom.co is the foremost data provider on startup,early-stage and growth company ecosystems in Europe and around the globe.Founded in Amsterdam in 2013,we now work with many of the worlds most prominent investors,entrepreneurs and government organizations to provide transparency,analys

20、is and insights on venture capital activity.Mikkel Skott OlsenHead of ComEx&Business DevelopmentDanske Bank GrowthMaria GrabowskaGrowth and ImpactDanske Bank GrowthJenny BerthlingSustainable GrowthInvest StockholmLisa berg Strategic CommunicationsInvest StockholmCamilla FalanescaInnovation AnalystDe

21、alroom.coLorenzo Chiavarini B2B Research leadDealroom.coDESIGN CONTENTPage/5 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Why this reportWhat are the latest developments in the Nordics when it comes

22、 to creating and growing innovative startups working to produce a sustainable impact on the world?In this report you will see the most detailed analysis of the Nordic impact ecosystem to date,based on data from 1,278 VC-backed impact startups and 2,244 funding rounds.The Nordics have a strong reputa

23、tion for creating impact startups.But what can the latest data show us?Do Nordic countries still over-index for impact innovation?Can impact startups offer investment returns as well as real world change?What are the latest trends in Climate Tech startups?Now at its third annual edition,the Nordic I

24、mpact startups report examines in detail development of the startup scene,to assess and nuance the common perception of the ecosystem.Dealroom.coWhy this reportDESIGN CONTENTPage/6 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTEN

25、T/SOURCES/INSPIRATION1.Chapter nameThe Nordics continue to the most impact-focused ecosystem.The major nordic countries and cities rank among the top 10-11 in Europe for both total and early-stage impact fundingSweden and Norway lead the way in the Nordics on all metrics.Stockholm and Helsinki are t

26、he top hubs.Are Nordic countries leaders in the impact tech space?The Nordics remain Europes leading impact-focused region with 38%of funding going to impact startups in H1 2023,compared to 22%for Europe and less than 10%for US and Asia.Nordic startups are attractive to impact investors,with Sweden(

27、2nd),Norway,Finland and Denmark in the Top 10 European destinations for early-stage impact funding*.Sweden lead the way for impact VC funding in the Nordics,followed by Norway.At city level,Stockholm and Helsinki are the top hubs.DESIGN CONTENT*Early-stage Investments are defined by those with amoun

28、ts up to$15M.Page/7 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONThe Nordics continue to the most impact-focused ecosystem.40%of funding goes to impact startups,more than any other region.Impact inv

29、estment as a percentage of total VC fundingSource:Dealroom.co.Dataset:1,940 impact startups.Excluding Northvolt$2.8B round in 2021.Source:Dealroom.co.Dealroom.co *2023 data up to H1 2023 DESIGN CONTENT24%United Kingdom22%Europe8%Asia7%North America36%Nordics20162017201820192020202120222023*40%30%20%

30、10%The median Series A grew by 40%,with an expected spike in 2021The Nordics continue to be the most impact-focused startup ecosystem.36%of funding goes to impact startups,more than any other region.Impact investment as a percentage of total VC fundingNordics United Kingdom Europe Asia North America

31、36%24%22%8%7%22%24%Page/8 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION%growth over 12 months(2022 vs 2021)%growth over 24 months(2022 vs 2020)The Nordics continue to the most impact-focused ecosyst

32、em.40%of funding goes to impact startups,more than any other region.Source:Dealroom.co.Dataset:1,940 impact startups.Excluding Northvolt$2.8B round in 2021.Source:Dealroom.co.Dealroom.co.DESIGN CONTENTThe median Series A grew by 40%,with an expected spike in 2021The Nordic impact ecosystem underwent

33、 a stronger hit than other regions last year,with a 23%drop in investment.United KingdomNordicsEuropeNorth America18%-23%16%-19%United KingdomNordicsEuropeNorth America75%113%147%105%Page/9 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEG

34、RAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Dataset:1,940 impact startups.Excluding Northvolt$2.8B round in 2021.Source:Dealroom.co.The four largest Nordic countries rank amongst the top 11 European countries by total and early-stage funding.Sweden and Norway lead on all metrics.Early-stage impact funding(

35、2017-2023)(2017-H1 2023)Dealroom.co.*Early-stage Investments are defined by those with amounts up to$15M.(2022-H1 2023)Early-stage impact funding(2022-2023)Total impact funding$6BUnited Kingdom$5BFrance$4BGermany$3.8BSwedenNetherlandsSwitzerlandEstoniaNorwayFinlandSpainDenmark$16BUnited Kingdom$12BS

36、weden$12BGermany$11BFrance$4BNetherlandsSwitzerlandEstoniaNorwaySpainFinlandDenmarkDESIGN CONTENT(2017-H1 2023)(2022-H1 2023)Early-stage impact funding*$2.9BUnited Kingdom$1.6BGermany$1.6BFrance$913MSwedenNetherlandsNorwaySpainSwitzerlandFinlandDenmarkItaly$847MUnited Kingdom$713MGermany$543MFrance$

37、314MNetherlandsNorwaySwedenSpainSwitzerlandFinlandDenmarkBelgium$2.6B$2.4B$1.7B$1.5B$1.3B$925M$1.5B$1.5B$1B$1B$506M$485M$380M$905M$498M$484M$385M$376M$311M$226M$159M$155M$123M$87M$73M$69M$257MPage/10 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGR

38、APH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Early-stage impact funding(2017-H1 2023)Total impact funding*(2017-H1 2023)Dataset:1,940 impact startups.Excluding Northvolt$2.8B round in 2021.Source:Dealroom.co.The four largest Nordic capitals are all among the top 10 cities for early-stage impact fu

39、nding in Europe.Stockholm and Helsinki also ranks among the top 10 by overall impact funding.Early-stage impact funding(2017-2023)Dealroom.co.*Cities include their respective metropolitan areas.Early-stage impact funding(2022-2023)DESIGN CONTENT$10BStockholm$10BLondon$8BParis$5BBerlin$3BMunich$2BAms

40、terdam$2BTallinn$1BZurich$1BHelsinkiOxford$1B$2BLondon$861MBerlin$803MParis$625MStockholm$383MAmsterdam$368MMunich$317MHelsinki$295MOsloCopenhagenRotterdamBarcelona$251M$289M$218MPage/11 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAP

41、H/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Stockholm is a major European impact tech hub,along with London and Paris.DESIGN CONTENTQuery:linkDealroom.co.*2023 data up to 1st September 2023*Ecosystem value defined as the sum of all valuations of private and public startups.For private ones the last known disc

42、losed or estimated valuation is usedCities include their respective metropolitan areas.VC funding in Impact(2018-2023*)VC funding in Impact(2023*)Impact ecosystem value*Number of VC-backed impact startups Number of impact unicornsStockholmLondonParisBerlinMunichAmsterdamTallinnZurichHamburgHelsinki$

43、10.7B$10.4B$7.8B$5.2B$3.4B$2.4B$2.2B$1.5B$25B$35B$42B$19B$15B$13B$9B$5B$1.1B$5B20557818551304275103671515721874110$1.5B$1.6B$0.8B$0.5B$0.5B$0.2B$0.1B$47M$0.2B$1.2B$3B79$0.5BPage/12 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN

44、 CONTENTFOOTERGRAPH 1GRAPH 2Nordic impact tech in numbers.Ecosystem Value$xxbEcosystem value-2023NOW2018$xxB$xxBClimate Tech Ecosystem$xBClimate Tech Funding in 2022XXxHigher than in 2020$xxBEcosystem value-2023Impact Overview$4.2BImpact funding in 20221.2kImpact startupsOut of which300+are Deep Tec

45、h startups2.25xhigher than in 202041%of all VC fundingIn 2022Sweden2022 Impact VC funding:$3BDESIGN CONTENT Impact Investment in Stockholm See onlineIndustrial hub between land and the sea(offshore wind,hydrogen CCUS,electrification of marine transport,bioresources from land and seaStockholm busines

46、s alliance-56 municipalities around stockholmWe could do a map of vc-backed impact startups in stockholm region if we have more details on what should be included thereSpanning from Gvleborg County north of Stockholm to stergtland County in the southeast of Sweden and rebro County in the westSomethi

47、ng on other key hubs?Stats same style as above and show some startups outside Stockholm?Dealroom.co*Stockholm refers to Greater Stockholm,the city of Stockholm and surrounding municipalities.*Early-stage Investments are defined by those with amounts up to$15MStockholm impact ecosystem snapshot.Fundi

48、ng$2.5BImpact funding in 20221st Hub by impact funding in 2021($4B)1st Hub by impact funding 2017-2023($10B)4th Hub by early-stage impact funding 2017-2023*Impact startups+200VC-backed impact startupsStockholm is top impact hub in Europe*The Stockholm Business Alliance(SBA)includes 55 municipalities

49、 in eight counties to attract foreign investments and international companies to the region.Greater Gothenburg and Greater Malm rank respectively 12th and 21st in total impact funding from 2017-2023.These cities are also the birthplaces of the unicorns BICO and Oatly.Distribution of VC-backed impact

50、 startups in the Stockholm Business Alliance Number of VC-backed impact startups Page/13 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION2.Chapter nameThe Nordics continue to the most impact-focused ecosystem

51、.The major nordic countries and cities rank among the top 10-11 in Europe for both total and early-stage impact fundingSweden and Norway lead the way in the Nordics on all metrics.Stockholm and Helsinki are the top hubs.How did the Nordic impact ecosystem perform amid the funding slowdown?Impact fun

52、ding reached its peak in 2022 when excluding Northvolt.2023 to fall short of 2021-2022 but higher than 2020.Impact,and climate tech,held on better than the overall market in the slowdown last year,both as overall funding and early-stage.Public valuation have fallen and public listing has stopped,whi

53、le M&A still active.No new unicorns in 2023,but strong pipeline of future unicorns.DESIGN CONTENTPage/14 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONYearly venture capital investment into Nordic im

54、pact startups view onlineWhen excluding Northvolt,Nordic impact VC funding reached its highest ever in 2022.2023 is showing significant slowdown,projected at$2.4BDESIGN CONTENT2BDealroom.co.*2023 data up to H1 2023 2021 was a record year for the Nordic impact VC funding,as 2022 reached the highest i

55、nvestment mark,when excluding Northvolt megarounds.2023 is showing significant slowdown,projected at$2.4BYearly venture capital investment into Nordic impact startupsTotal impact(exc.Northvolt)NorthvoltView online 201320152017201920212022$1B1B$2B$3B$4B$5B$2.4B$4.3B$5.5B$2.0B$1.8B$610M$438M$283M$165M

56、$92M$1.2B2023*$61MPage/15 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION$5B$4B$2B$3B$1BNordics impact funding is falling short of the last two years,but still projected higher than 2020 levels.Cumula

57、tive impact VC funding in the NordicsDESIGN CONTENTDealroom.coNordics impact funding is falling short of the last two years in 2023,but still projected to be higher than 2020 levels.Cumulative impact VC funding in the NordicsJan Cumulative impact VC funding in the Nordics 2020 2021 2022 2023Feb Mar

58、Apr MayJunJulAugSeptOctNovDec21984384427170750746135548382132862093669554014218604821437229018$4.3B$5.5B$2.0B$1.2BPage/16 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONYearly venture capital investme

59、nt into Nordic impact startups view onlineWhen excluding Northvolt,Nordic impact VC funding reached its highest ever in 2022.2023 is showing significant slowdown,projected at$2.4BDESIGN CONTENTDealroom.co.*Climate tech(aka Green Growth)refers to startups specifically seeking to improve environmental

60、 conditions as part of their main business activities,therefore an environmentally-focused subset of Impact.*2023 data up to H1 2023Nearly 90%of impact funding has been directed to Climate tech in the Nordics since 2016.Yearly venture capital investment into Nordics impact startupsClimate tech Rest

61、of ImpactView online$2.4B$4.3B$5.5B$2.0B$1.8B$610M$438M$283M$165M$92M$61M$57M201220142016201820202022$4B$3B$2B$1B$5B2023*$1.2BPage/17 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Dataset:1,940 impac

62、t startups.Excluding Northvolt$2.8B round in 2021.Source:Dealroom.co.Impact,and climate tech,held on better than the overall market in the slowdown last year,overall funding in general and early-stage funding in particular.Early-stage impact funding(2017-2023)Dealroom.co.Early-stage impact funding(2

63、022-2023)All fundingDESIGN Real estateSemiconductorsClimate techEnergyImpactFintechEducationTransportationHealthTelecomMarketingFashionFoodCONTENTEarly-stage onlyVenture capital growth 2022 vs 2021 by industry in the Nordics55%36%-19%-21%-23%-34%-39%44%-47%-52%-52%-58%-60%SemiconductorsMarketingTran

64、sportationHealthReal estateFintechEnergyTotal ImpactClimate techFoodEducationFashion50%-14%-36%-46%32%31%25%22%18%5%5%-1%-21%Total VC-28%Total VCPage/18 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION

65、$60BYearly venture capital investment into Nordic impact startups view onlineWhen excluding Northvolt,Nordic impact VC funding reached its highest ever in 2022.2023 is showing significant slowdown,projected at$2.4BDESIGN CONTENTSource:Dealroom.co,created with datawrapper.*2023 data up to H1 2023Publ

66、ic listed impact tech company valuations decreased post-2021 in line with broader public market adjustment and have yet to recover.The combined value of private Nordic impact tech companies has kept growing,+37%in the same period.Combined enterprise value of Nordic impact startups View online 201320

67、15201720192021$20B$40BCombined enterprise value of Nordic impact startupsPrivate Public$79B$69B$71B$24B$12B$8B$5B$3B$2B$2B$1B2023*$28B$44B$41B$32B$28B$47B$17B$7BPage/19 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOT

68、ERGRAPH 1GRAPH 2Dataset:1,940 impact startups.Excluding Northvolt$2.8B round in 2021.Source:Dealroom.co.So far,8 impact unicorns have been built in the Nordics,with two new unicorns in 2022.Early-stage impact funding(2017-2023)Dealroom.co.Methodology:https:/dealroom.co/blog/what-is-a-unicorn.*2023 d

69、ata up to H1 2023 *Polarium had achieved unicorn status in 2022,but its valuation has been reduced to less than$1B in August 2023.Early-stage impact funding(2022-2023)Cumulative number of unicorns in the NordicsImpact Unicorns Non-impact UnicornsDESIGN CONTENTNordic impact unicorns201720182019202020

70、2120222023*568*4030201050View online 8*Page/20 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Dataset:1,940 impact startups.Excluding Northvolt$2.8B round in 2021.Source:Dealroom.co.A fast-growing pip

71、eline of potential future impact unicorns is emerging in the Nordics.Early-stage impact funding(2017-2023)Dealroom.co.*Future unicorns are not exited startups that received investments in the last 5 years and have a valuation from$250M-999M.*2023 data up to H1 2023Early-stage impact funding(2022-202

72、3)Cumulative number of future unicorns in the Nordics*Impact Future Unicorns Non-impact Future UnicornsDESIGN CONTENTNordic impact future unicorns2017201820192020202120222023*4119403530252015105View online Page/21 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRA

73、PH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONSource:Dealroom.co The stats include companies in the process of going public through SPACE.URAhttps:/app.dealroom.co/companies/_uraEinridehttps:/app.dealroom.co/companies/einrideVoi Technologyhttps:/app.dealroom.co/companies/voi_technolog

74、yFREYRhttps:/app.dealroom.co/companies/freyr_battery_norwayKryhttps:/app.dealroom.co/companies/kryOatlyhttps:/app.dealroom.co/companies/oatly_1Northvolthttps:/app.dealroom.co/companies/northvoltNumber of impact exits in the Nordics See onlineSelected exits in 2022-2023 DESIGN CONTENTM&A of Nordic im

75、pact companies remained active in 2022-2023,while IPOs stopped after 2021.Number of impact startup exits in the NordicsM&A IPO&SPACDealroom.co The stats include companies in the process of going public through SPAC.*2023 data up to H1 2023View online StartupExitFocus90M AcquisitionPlastic recycling$

76、66M AcquisitionEV charging$20M AcquisitionClimate FintechUnd.Buyout+150M Growth Equity roundSolar parks developerUnd.AcquisitionWind turbine technologyUnd.AcquisitionRobots for waste sorting4030201020162017201820192020202120222023*Page/22 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTE

77、NTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION3.Chapter nameThe Nordics continue to the most impact-focused ecosystem.The major nordic countries and cities rank among the top 10-11 in Europe for both total and early-stage impact fundingSweden and Norway lead the way

78、in the Nordics on all metrics.Stockholm and Helsinki are the top hubs.Are impact nordic startups performing better than the rest of startups?Impact startups are more likely to convert to Series A in the Nordics:31%have raised a Series A after 5 years versus 19%for the rest of startups.Impact startup

79、s show better conversion rates at all stages.The gap even widens at later stages with 2x more conversion to Series B and 2.3x at Series C.DESIGN CONTENTNordics impact startups raise bigger rounds at all stages,with the gap increasing at later stages and especially Series C.Page/23 Source:LOGOS SPACI

80、NGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONNorthvolt910MNorthvolt545MInvestment by VC firms per country of startup HQ -EUR MillionDESIGN CONTENTDealroom.coImpact startups are more likely to convert to Series A in t

81、he Nordics.31%of Seed-funded impact startups have raised a Series A after 5 years vs.19%for all Seed startups.Conversion to Series A by time elapsed since Seed round(2014-2018 seed cohort)All Nordics Nordics Impact31%4%6%11%13%16%25%17%27%19%Page/24 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TIT

82、LEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONYearly venture capital investment into Nordic impact startups view onlineWhen excluding Northvolt,Nordic impact VC funding reached its highest ever in 2022.2023 is showing significant slowdown,projected

83、at$2.4BDESIGN CONTENTDealroom.coThe toughest conversion is the Seed to Series A,where impact startups outperform 35%the benchmark in the Nordics.The gap even widens at later stages with 2x more conversion to Series B and 2.3x at Series C.The analysis has been carried out on startups raising their se

84、ed round in 2012-2021,so some recent seed rounds did not have the time to convert to Series B and C.Impact startups show better conversion rates at all stages.Conversion rates(2012-2021 seed cohort)All Nordics Nordics Impact16%7%10%20%31%23%100%Page/25 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH

85、TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONYearly venture capital investment into Nordic impact startups view onlineWhen excluding Northvolt,Nordic impact VC funding reached its highest ever in 2022.2023 is showing significant slowdown,project

86、ed at$2.4BDESIGN CONTENTDealroom.coNordics impact startups raise bigger rounds at all stages,with the gap increasing at later stages and especially Series C.Median round size(2014-2022)All Nordics Nordics ImpactSeedSeries ASeries BSeries C$10M$20M$30M$40MPage/26 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRA

87、PH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION4.Chapter nameThe Nordics continue to the most impact-focused ecosystem.The major nordic countries and cities rank among the top 10-11 in Europe for both total and early-stage impact fundingSweden

88、and Norway lead the way in the Nordics on all metrics.Stockholm and Helsinki are the top hubs.How is the geography of the impact ecosystem in the Nordic countries?Sweden has consistently attracted over 50%of total and early-stage Nordics Impact funding.Sweden and Norway are the most impact-focused e

89、cosystems among the Nordic nations.Deep-dive into countries?DESIGN CONTENTPage/27 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Nordic impact tech in numbers.Ecosystem ValueImpactUnicorns$71bEcosyste

90、m value-2023NOW2018$8B$71BClimate Tech Ecosystem$4BClimate Tech Funding in 20221.3xHigher than in 2020$66BEcosystem value-2023Impact Overview$4.2BImpact funding in 20221.2kImpact startupsOut of which300+are Deep Tech startupsImpact Unicorns8 Unicorns2.25xhigher than in 202041%of all VC fundingIn 202

91、2Denmark2022 Impact VC funding:$282MSweden2022 Impact VC funding:$3BFinland2022 Impact VC funding:$369MNorway2022 Impact VC funding:$596MIceland2022 Impact VC funding:$6MDESIGN CONTENTDealroom.co *Polarium had achieved unicorn status in 2022,but its valuation has been reduced to less than$1B in Aug

92、2023.The number of unicorns would then be 7.Nordic impact tech ecosystem in numbers.Finland$382MNorway$594MIceland$13MSweden$3BDenmark$276M2022 Impact VC fundingEcosystem Value$71BEcosystem value-2023Impact Overview$4.3BImpact funding in 20222.25xhigher than in 202041%of all VC funding in 2022NOW201

93、8$8B$71BClimate Tech Ecosystem$4BClimate tech funding in 20221.3xhigher than in 2020$66BEcosystem value in 2023Impact Unicorns8*UnicornsPage/28 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Dataset:1

94、,940 impact startups.Excluding Northvolt$2.8B round in 2021.Source:Dealroom.co.Sweden is the leading country for impact investment in the Nordics.Early-stage impact funding(2017-2023)Dealroom.co.Early-stage Investments are defined by those with amounts up to$15M.*2023 data up to H1 2023Early-stage i

95、mpact funding(2022-2023)Share of impact funding in the nordics by country(all-stages)Sweden Norway Denmark Finland IcelandDESIGN CONTENTShare of impact funding in the nordics by country(Early-stage)Sweden Norway Denmark Finland Iceland201520162017201820192020202120222023*2015201620172018201920202021

96、20222023*100%80604020100%80604020Page/29 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONNordics impact funding is falling short of the last two years,but still projected higher than 2020 levels.Cumula

97、tive impact VC funding in the NordicsDESIGN CONTENTDealroom.co.*2023 data up to H1 2023Sweden and Norway are the most impact-focused ecosystems among the Nordic nations.Impact investment as a percentage of total VC fundingSweden Norway Finland Denmark Iceland20162017201820192020202120222023*53%Norwa

98、y49%Sweden28%Finland19%Iceland19%Denmark50%45403530252015105Page/30 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION5.Chapter nameThe Nordics continue to the most impact-focused ecosystem.The major nordic cou

99、ntries and cities rank among the top 10-11 in Europe for both total and early-stage impact fundingSweden and Norway lead the way in the Nordics on all metrics.Stockholm and Helsinki are the top hubs.Who are the key enablers of the impact ecosystem in the Nordics?Domestic and European investors play

100、a vital role in the Nordics ecosystem,contributing over 70%of capital into Nordics-based impact startups over the last five years.Venture Capital account for most of the funding(38%)in Nordics impact startups since 2020,followed by corporates(26%)and PE&Asset managers.Many of the most active domesti

101、c VCs in the Nordics are state-affiliate.Nordic Impact startups have also raised over$7.6B in non-dilutive capital such as debt and grants since 2018.DESIGN CONTENTPage/31 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/

102、SOURCES/INSPIRATIONSource:Dealroom.co The stats include companies in the process of going public through SPACE.URAhttps:/app.dealroom.co/companies/_uraEinridehttps:/app.dealroom.co/companies/einrideVoi Technologyhttps:/app.dealroom.co/companies/voi_technologyFREYRhttps:/app.dealroom.co/companies/fre

103、yr_battery_norwayKryhttps:/app.dealroom.co/companies/kryOatlyhttps:/app.dealroom.co/companies/oatly_1Northvolthttps:/app.dealroom.co/companies/northvoltNumber of impact exits in the Nordics See online1000+Nordics investors with at least 1 impact investment DESIGN CONTENTDomestic and European investo

104、rs play a vital role in the Nordics ecosystem,contributing over 70%of capital into Nordics-based impact startups over the last five years.VC funding by investor HQ locationDomestic European USA Asia Rest of the WorldDealroom.co.*2023 data up to H1 2023View online 2017201820192020202120222023*Page/32

105、 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONSource:Dealroom.co The stats include companies in the process of going public through SPACE.URAhttps:/app.dealroom.co/companies/_uraEinridehttps:/app.de

106、alroom.co/companies/einrideVoi Technologyhttps:/app.dealroom.co/companies/voi_technologyFREYRhttps:/app.dealroom.co/companies/freyr_battery_norwayKryhttps:/app.dealroom.co/companies/kryOatlyhttps:/app.dealroom.co/companies/oatly_1Northvolthttps:/app.dealroom.co/companies/northvoltNumber of impact ex

107、its in the Nordics See onlineDESIGN CONTENTVenture Capital investors account for the largest share of Nordics impact investment,followed by corporates and PE&Asset managers.Dealroom.co.*Other investor type includes all other investor types.*Angel investor type includes Angel and Angel funds.Selected

108、 Nordic Impact investors by typeSelected Nordic Impact investors by typeVenture CapitalCorporate&CVCsOtherImpact VCsNordic state-affiliated VCsGeneralist VCsSEB greentech,ABB,NorgesGruppen,Alfa laval,ingka groupSource of investment in Nordic Impact startups(2020-H1 2023)38%Venture Capital26%Corporat

109、e6%Private equity17%Assets managers and other investors 7%Angel6%OthersPage/33 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EuropeDomesticThere is strong public support for Impact and Climate Tech i

110、n the Nordics.Dealroom.co.DESIGN CONTENTSwedenNorwayFinlandDenmarkIcelandPage/34 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Largest debt and grand financing to Nordic Impact startups(2022-2023)Lar

111、gest debt and grand financing to Nordic Impact startups(2022-2023)view online Dataset:1,940 impact startups.Excluding Northvolt$2.8B round in 2021.Source:Dealroom.co.Beyond equity,Nordic impact startups are tapping into vast amounts of non-dilutive capital,such as debt and grants.Early-stage impact

112、funding(2017-2023)Dealroom.co.*2023 data up to H1 2023 The stats above include explicitly labelled debt.Convertible are included in VC equity financing stats instead.Some late-stage VC financing labeled in Dealroom as“growth equity”might included undisclosed an debt portion,this is not added as esti

113、mation here in the scope of this report.Early-stage impact funding(2022-2023)DESIGN CONTENTDebt and grant funding to Nordic Impact startups$1.6B debt$3.5B debtDebt Grant(mostly climate tech,can be done only for climate tech maybe,numbers almost equal)view online View more 201620172018201920202021202

114、22023*Page/35 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION5.Chapter nameThe Nordics continue to the most impact-focused ecosystem.The major nordic countries and cities rank among the top 10-11 in Europe f

115、or both total and early-stage impact fundingSweden and Norway lead the way in the Nordics on all metrics.Stockholm and Helsinki are the top hubs.What is the role of the Nordics in the climate transition?The nordics are leaders in climate tech,attracting 30%of European funding in the segment.Climate

116、tech in the Nordics is significantly B2B and manufacturing oriented.Transportation&Energy have been dominating the climate tech scene in the Nordics in the last years,especially electric vehicles mobility.DESIGN CONTENTNew segments have emerged such as blue economy,alternative proteins and carbon ca

117、pture&storage.The nordics over index in blue economy and carbon tech funding compared to the rest of Europe.Page/36 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2The Nordics investment into climate t

118、ech represents almost a third of the entire European VC Investment.Northvolt910MNorthvolt545MInvestment by VC firms per country of startup HQ -EUR MillionClimate Tech VC Investment Nordics vs EuropeNordics share of climate tech investment(2015-2023*)DESIGN CONTENTDealroom.co.*2023 data up to H1 2023

119、201520162017201820192020202120222023*$1.1B$5.7B$4B$16B$13.6BRest of Europe Nordics annualized projection based on H1 reported VC activity30%Nordics70%Rest of Europe$15.0B$10.0B$5.0BPage/37 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGR

120、APH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2More focus on B2B modelsThe small consumer market has led to an enhanced development of the B2B counterpart in the Nordics.This trend is also reiterated in the climate tech space,with B2B shares reaching 86%,13 points higher than the European average.Climate tech

121、funding by business model(2022-H1 2023)Smaller domestic consumer marketThe Nordic regions GDP per capita is bigger than any other EU country and almost twice the average of all countries in the European Union.The Nordic countries represents about 5%of the total population in the European Union but d

122、eliver almost 10%of the total GDP.Nordic share of European totalThe climate tech market in the Nordics is dominated by B2B players.Nordics population:27.4MGDP:$1.5T5%PopulationGDP10%73%DESIGN CONTENTDealroom.co86%EuropeNordics100%50%B2C B2B Page/38 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITL

123、EGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONDESIGN CONTENTTo choose between this and next slides.Deep tech is not the same as hardware but there is a strong relationNordics Climate Tech VC funding by business modelEcommerce Saas Manufacturing(excl.

124、Northvolt)Northvolt Dealroom.co *2023 data up to H1 2023Capital-intensive manufacturing startups raise more investment than SaaS and marketplaces model counterparts among Nordics Climate Tech startups.$5.0B$4.0B$1.2B$1.7B$1.7B$391M$296M$2.0B$4.0B2017201820192020202120222023Page/39 LOGOS SPACINGYEAR/

125、EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONWe analyzed seven key clusters of focus for climate tech startups in the Nordics.DESIGN CONTENTDealroom.coCompanies addressing more than one cluster are counted in all clusters t

126、hey address.Total funding data covers the 2020 to H1 2023 time-frame.EnergyTot.funding:$4.1B since 2020Renewable energy production,smart-and micro grids,power-to-X,energy storage and energy efficiency software.Transport&mobilityTot.funding:$7.6B since 2020Manufacturing of electric vehicles,EV batter

127、ies and charging stations for private and public transportation;automated or hyper-efficient monitoring systems,smart mobility and micro-mobility.Manufacturing&Circular EconomyTot.funding:$1.2B since 2020Sustainable production novel and sustainable resources,packaging materials with enhanced propert

128、ies,fibers&technologies to obtain them.Buildings&InfrastructureTot.funding:$0.9B since 2020Novel technologies(software,hardware&materials)&business models in construction&real estateFood&Land UseTot.funding:$1.2B since 2020Sustainable agtech technologies,including land optimization,biodiversity,food

129、 production;sustainable food technologies including food waste management and alternative protein.Blue EconomyTot.funding:$0.6B since 2020Sustainable marine transportation,marine energy,offshore renewables,carbon capture,sustainable aquaculture,marine biodiversity.CarbonTot.funding:$0.5B since 2020C

130、arbon capture and storage(CCS),carbon removal,carbon utilization,carbon tracking and offset.Page/40 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Investment in Climate Tech per cluster in the Nordics

131、 Transportation Energy Food Buildings Circular Economy Carbon Blue economy Transportation&Energy have been dominating the climate tech scene in the Nordics in the last years.Carbon and blue economy are emerging strongly in 2022-2023.DESIGN CONTENTDealroom.co *2023 data up to H1 2023.There are often

132、overlaps between different Climate Tech clusters such as residential solar panels(both energy and buildings).We tried to minimize the overlap,in particular assigning electric mobility startups(especially EV battery such as Northvolt,or EV charging such as Virta)only to the transportation cluster and

133、 not to the energy one.This is different from past editions of the report.$0.9B$0.6B$0.5B2020202120222023*Total amount of climate tech investment per cluster(2020-2023*)Transportation and mobilityEnergyCircular EconomyFood and LandBuildings and InfrastructureBlue EconomyCarbon$7.6B$4.1B$1.2B$1.2B$0.

134、9B$0.6B$0.5BPage/41 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 210-50M50+M22companies21companiesAlternative Protein impact on the environment:To add short qualitative info hereSource:Dealroom.co.*A

135、CEA(2022)DESIGN CONTENTSweden has been the top country by VC funding in electric mobility.Norway also come as 7th country in Europe.Share of battery-only electric passenger cars among newly registered passenger cars(2022)*VC investment in European Electric mobility startups by country(2018-H1 2023)N

136、ordic countries lead in EV adoption with all 5 nordic countries among the top 7 countries for share of new EV salesThe Nordics,especially Sweden and Norway,are leading the EV transition in Europe.SwedenUnited KingdomGermanyFranceCroatiaNetherlandsNorwayBelgiumPortugalSpain$7.08B$3.1B$1.5B$1.1B$849M$

137、804M$418M$206M$165M$142MNorwaySwedenIcelandNetherlandsDenmarkSwitzerlandFinlandGermanyUKAustriaEuropeSpainItalyPolandGreece 4%4%3%3%79%33%31%24%21%18%18%18%17%16%12%Page/42 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENT

138、FOOTERGRAPH 1GRAPH 2The Nordics invest three times more than the European average in the blue economy.Blue Economy share of VC funding in the Nordics vs Europe(2019-H1 2023)Notable rounds in blue startups in the Nordics in 2022-2023 Dealroom.coView online Notable rounds in blue startups in the Nordi

139、cs in 2022-2023 View more View online 1.5%0.5%EuropeNordicsPage/43 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONDESIGN CONTENTDealroom.co.*2023 data up to H1 2023 *Carbon Tech defined here as startu

140、ps on carbon removal,carbon capture and storage,carbon utilisation,and carbon offsetting.VC funding for Carbon Tech startups in the Nordics*View onlineDiscover 50+Carbon Tech startups in the NordicsThe Nordics play also a key role in carbon technologies,contributing on average by 38%to the European

141、investment.$118MView online Discover 50+Carbon Tech startups in the Nordics-view online VC funding for Carbon Tech startups in the Nordics*-view online Carbon Tech VC funding in the Nordics is on track for its most active year,with$118M in H1 2023,projected to grow nearly 30 x since 2020.Discover 50

142、+Carbon Tech startups in the NordicsView online Projected amount$236MPage/44 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION6.Chapter nameThe Nordics continue to the most impact-focused ecosystem.The major n

143、ordic countries and cities rank among the top 10-11 in Europe for both total and early-stage impact fundingSweden and Norway lead the way in the Nordics on all metrics.Stockholm and Helsinki are the top hubs.Are Nordics Impact startups an important job creation engine?1 in 7 startup jobs in the Nord

144、ics are today at impact companies.Impact startups are second only to Healthtech for total employment.Transportation,Energy and Healthtech have been dominating jobs creation at Nordics Impact startups.DESIGN CONTENTNordic jobs reportFurther insights in theREPORTPage/45 Source:LOGOS SPACINGYEAR/EXTRA

145、LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONTo Update before publication CountryBiggest employer2nd biggest employer3rd biggest employerRest of CountrySweden4%3%2%91%Denmark2%2%2%94%Finland5%3%2%90%Norway7%4%4%86%Iceland2%1%0%96

146、%DESIGN CONTENTImpact startups are a major employer in the Nordics placed second overall only behind Healthtech.CompanyCountrySaxo BankDenmarkBavarian NordicDenmark3ShapeDenmarkLunarDenmarkGenmabDenmarkDigiaFinlandRelex Solutions FinlandInnofactorFinlandEficodeFinland3 Step IT GroupFinlandAVINOR AIR

147、 NAVIGATION SERVICES ASNorwayForsvarsbyggNorwaySpareBank 1NorwayPilot Flight AcademyNorwayKongsberg DigitalNorwayAlvotechIcelandControlantIcelandSidekick Health IcelandNOVAIcelandSynIcelandNorthvoltSwedenKlarnaSwedenGlobalConnectSwedenSpotifySwedenViaplaySwedenHealthtechImpactEnergy(excl.Climate Tec

148、h)FintechEnterprise SoftwareGaming&MarketingFoodTransportatione-CommerceReal EstateRoboticsClimate tech jobs 21.7kJobs at Nordic startups(2023)HealthImpactEnergy(excl.Climate Tech)FintechEnterprise SoftwareTransportationeCommerceFoodReal EstateMarketingMediaGamingTelecomSecurityEducation30K27.8K21.1

149、K18.4K16.3K9.6K8.8K8.8K8.0K7.4K7.3K6K5.6K5.1K3.1KClimate tech jobs 21.7k27.8kDESIGN CONTENTHealthImpactEnergy(excl.Climate Tech)FintechEnterprise SoftwareFoodTransportationEcommerceReal EstateRoboticsTravel8K28K18K16K7K8K8K6K3K3K26K4K13K3K2KTravelAll other industries28KDealroom.co.Dataset:1160 impac

150、t companies.27.8K jobs in the Nordics.*2023 data up to H1 2023*jobs at impact startups are subtracted from the total count of their original industries to prevent double counting.Check the full Nordic Nordic Startup Employment 2023 for more insights.4K13K3K2KJobs at Nordic startups(2023*)Page/46 Sou

151、rce:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTEREXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONCompanyHQ JOBSNORDICS EMP 2 023SDGNorthvolt2931affordable and clean energy(#7);climate action(#13)Oatly553zero hunger(#2);climate action(#13)SVEA Solar497sustainable citi

152、es and communities(#11);responsible consumption and production(#12);affordable and clean energy(#7);climate action(#13)Einride427affordable and clean energy(#7);climate action(#13)OX2306affordable and clean energy(#7)Voi Technology301sustainable cities and communities(#11);climate action(#13)Better

153、Energy A/S296affordable and clean energy(#7)apotea.se294good health and well-being(#3)Clever261sustainable cities and communities(#11);affordable and clean energy(#7);climate action(#13)Doktor.se244good health and well-being(#3)Dealroom.coCheck the full Nordic Nordic Startup Employment 2023 for more

154、 insights.DESIGN CONTENT1.1K impact startups45K jobs globally28K impact jobs locally8K+job creating startups in the Nordics340K jobs globally200K jobs locallyTop 10 biggest impact startups14%of Impact jobsSelected Nordic impact startups currently hiring Explore moreBrowse job openings at Nordic impa

155、ct startups on Dealroom.co 1.1K impact startups in this analysis1.8K Nordic impact startups view onlineNordic impact startups support 45k jobs globally,of which 28K(60%)are located in Nordic countries.86%of impact jobs are created by early-stage startups and rising scaleups.Larger nordic impact scal

156、eups and grownups(below)support just 1 in 7 impact jobs.1 in 7 startup jobs in the Nordics are at impact startups.Page/47 Source:LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTEREXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONCompanyHQ JOBSNORDICS EMP 2 023SDGNorthvolt29

157、31affordable and clean energy(#7);climate action(#13)Oatly553zero hunger(#2);climate action(#13)SVEA Solar497sustainable cities and communities(#11);responsible consumption and production(#12);affordable and clean energy(#7);climate action(#13)Einride427affordable and clean energy(#7);climate action

158、(#13)OX2306affordable and clean energy(#7)Voi Technology301sustainable cities and communities(#11);climate action(#13)Better Energy A/S296affordable and clean energy(#7)apotea.se294good health and well-being(#3)Clever261sustainable cities and communities(#11);affordable and clean energy(#7);climate

159、action(#13)Doktor.se244good health and well-being(#3)Dealroom.co.Dataset:1160 impact companies.28K jobs in Nordics in 2023 H1.Check the full Nordic Nordic Startup Employment 2023 2.9kNordic impact startups support 45K+jobs globally,including 28K jobs in Nordic countries.Energy&Climate Tech startups

160、contribute the largest share of jobs within the impact ecosystem.Impact startups are younger on average and develop technologies and products locally,leveraging a large and adequate talent pool in the Nordics to support their growth.As a result,63%,or over 28K jobs created by impact startups are bas

161、ed in the Nordics,a higher proportion of local jobs than non-impact startups(53%).1.1K+Nordic impact startupssupport 45K jobs globally.Energy 23.2k jobsTransportation12k jobsReal Estate2.3k jobsHealth7.4k jobsFood6.4k jobsElectric Mobility10k jobsAll other industries7.2k jobsPage/48 LOGOS SPACINGYEA

162、R/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATION7.Chapter nameThe Nordics continue to the most impact-focused ecosystem.The major nordic countries and cities rank among the top 10-11 in Europe for both total and early-stage

163、impact fundingSweden and Norway lead the way in the Nordics on all metrics.Stockholm and Helsinki are the top hubs.Are impact startups more gender diverse?How do the Nordics compare with the rest of Europe?Impact scaleups in the Nordics are more gender diverse than non-impact ones.16%of impact ones

164、have at least 1 female founder in the founding team,compared to 10.5%for non-impact startups.Impact scaleups in the Nordics are less gender diverse than their European peers.16%of impact ones have at least 1 female founder in the founding team,compared to 10.5%of non-impact startups.DESIGN CONTENTPa

165、ge/49 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Impact scaleups in the Nordics are more gender diverse than non-impact ones.16%of impact ones have at least 1 female founder in the founding team,c

166、ompared to 10.5%of non-impact startups.Nordic impact scaleups by founders genderNordic non-impact scaleups by founders genderFemale only9%Male only86%Mixed5%Female only12%Male only77%Mixed12%23%Min 1 female founder14%Min 1 female founderDealroom.co A scaleup,as defined by Dealroom,is a company desig

167、ned to grow fast with a VC-backable business model,a team of 50 to 500 employees,and founded in or after 1990.The study analyses only companies that received funding(venture capital,private equity or grant)or have exited(M&A,IPO)in the last five years.Impact scaleups in the Nordics are more gender d

168、iverse than non-impact ones.16%Gender diverse10.5%Gender diverse84%Male only89.5%Male only16%of impact ones have at least 1 female founder in the founding team,compared to 10.5%of non-impact startups.Page/50 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABE

169、LTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Impact scaleups in the Nordics are less gender diverse than their European peers.16%of impact ones have at least 1 female founder in the founding team,compared to 10.5%of non-impact startups.Dealroom.co A scaleup,as defined by Dealroom,is a comp

170、any designed to grow fast with a VC-backable business model,a team of 50 to 500 employees,and founded in or after 1990.The study analyses only companies that received funding(venture capital,private equity or grant)or have exited(M&A,IPO)in the last five years.Impact scaleups in the Nordics are less

171、 gender diverse than their European peers.Nordic impact scaleups by founders genderImpact scaleups Rest of Europe by founders gender16%Gender diverse21%Gender diverse84%Male only79%Male only16%of nordics ones have at least 1 female founder in the founding team,compared to 21%in the rest of Europe.Pa

172、ge/51 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONMethodology&definitions.To double check definitions.Source:Dealroom.co Venture Capital,InvestorsInvestment numbers refer to rounds such as Seed,Series A,B

173、,C,late stage,and growth equity rounds.VC investment figures exclude debt or other non-equity funding,lending capital,grants and ICOs.Investment rounds are sourced from public disclosures including press releases,news,filings and(verified)user-submitted information.When startups are successful,they

174、develop into scaleups(50 people),grownups(500 people)and result in big companies,like Kry or Northvolt.In this report,the term“tech ecosystem”refers to startups,scaleups grownups from different vintages/cohorts.Only companies founded after 1990 are included in this report.Sectors&IndustriesIndustry

175、classification follows Dealrooms proprietary taxonomy,which was built specifically for startups.A given startup may belong to up to two industries.ValuationThe combined valuation of the tech ecosystem is based on their market cap or latest transaction value.Transaction value is realized from exit or

176、 implied unrealised valuation from the latest VC round,which is either announced or estimated by Dealroom based on benchmarks.Underlying DataDealrooms proprietary database and software aggregate data from multiple sources:harvesting public information,user-submitted data verified by Dealroom,data en

177、gineering.All data is verified and curated with an extensive manual process.Most underlying data from the report is available online via impact.dealroom.coThe data on which this report builds is available on app.dealroom.co.For more info please visit dealroom.co or contact supportdealroom.co.Glossar

178、y&DefinitionsExplore the impact ecosystemPage/52 LOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONWhat is Research&Development(R&D)risk?We classified the R&D risk based on the following(an affirmative response

179、 indicates low risk):Is the technology market mature?Does it require less than 100K to develop a prototype?Does it require less than 2 years to develop a marketable prototype?Which criteria did you use to classify Product/Market fit risk?We classified Product/Market fit risk based on the following(a

180、n affirmative response indicates low risk):Is there an established demand in the market?Is there any listed company selling a similar product or device?Does infrastructure,legislation,and other systemic dependencies exist to support the product or service?To review definitions.For instance Deep Tech

181、 is wrong,etcSource:Dealroom.co Glossary.What is an impact startup?A startup company that addresses one or more of the UN Sustainable Development Goals(SDGs)at the core of its business.Our litmus test:If you remove the impact you also remove the business.Within the context of the EU Sustainable Fina

182、nce package,the report focuses on companies and products with“environmental objectives”,as in Article 9 in the EU Sustainable Finance Regulation,and those that significantly contribute to a sustainability objective in the EU taxonomy.What is a Climate Tech startup?Climate Tech is a subset of impact

183、startups.They not only addresses SDGs in general,but in particular seeks to improve environmental conditions as part of its main business activities.In other words,the more a Climate Tech company scales,the more environmental parameters should improve.This may be through the reduction of greenhouse

184、gas emissions,resource consumption,and/or through regenerative practices that lead to gradual restoration of damaged ecosystems.What is a Deep Tech startup?Deep Tech includes startups working on innovative technologies that are closely linked to the frontiers of science and engineering.These compani

185、es inherently take on risk relating to the feasibility of their technologies(R&D risk),as well as the risk in proving market demand for the product which has likely not been seen before in the market(Product/Market fit risk).Deep Tech startups often start with an extended R&D phase,have a higher sha

186、re of technical staff and involve hardware and/or IP.What is an impact Deep Tech startup?An impact Deep Tech company fits both the criteria for being an impact startup and a deep tech startup.What is a Climate Tech x Deep Tech startup?A Climate Tech x Deep Tech company qualifies for being both a Cli

187、mate Tech startup and a Deep Tech startup.More on Deep Techby Dealroom.coWhat is a startup?by Dealroom.coPage/53 Source:EXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONLOGOS SPACINGYEAR/EXTRA LABELTITLEGRAPH TITLEGRAPH/MAIN CONTENTFOOTERGRAPH 1GRAPH 2Impactaka Tech for Good,double bottom li

188、ne,triple bottom line,purpose and profitClimate techaka Green Growth,Greentech,CleantechImpact and SDGs.Northvolt910MNorthvolt545MInvestment by VC firms per country of startup HQ -EUR MillionDoing good by addressing one or more UN Sustainable Development Goal(SDGs)at the core of its business and the

189、 potential to scale.Social-impact:SDG 1,4,8,16Diversity and equality:5,10Health&quality of life:2,3,6,11Doing environmental goodby addressing one or more environmentally focused UN Sustainable Development Goal(SDGs)at the core of its business and the potential to scale.Environmentally focused SDGs:7,11,12,13,14,15Sometimes also SDGs 2,6,9,11 can focus on the environment and fall into Climate Tech.Dealroom.coGRAPH/MAIN CONTENTFOOTEREXTRA CONTENTALIGN HERE EXTRA CONTENT/SOURCES/INSPIRATIONBIG LOGOS SPACING