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News, 10/19/2017

New Nordic Innovation House Assists Startups in East Coast's Tech Hub

Nordic Innovation House expanded from Silicon Valley to New York. The Nordic startup community headquarters in the metropolis offers services especially for tech entrepreneurs.

Photo credit: Tim Soter/Consulate General of Sweden in New York
Nordic Innovation House in New York was officially opened by Secretary General of the Nordic Council of Ministers, Dagfinn Høybråten, and CEO of Nordic Innovation, Svein Berg.

New York has become the second largest startup ecosystem in the world, and the community grows faster than anywhere else. For Nordic companies, the East Coast tech hub is a natural point of entry to the United States. That is why Nordic Innovation House recently established a new office in the metropolitan city.

A unique collaboration between the five Nordic countries, Nordic Innovation House provides startups with a soft landing space and a wide community in the U.S.  It has operated successfully in Silicon Valley for over three years.

"Nordic companies have benefitted of the service, and Nordic Innovation, the Innovation arm of Nordic Council of Ministers, wanted to support similar program elsewhere," Nordic Innovation House's New York Director Silve Parviainen explains.

New York has invested strongly in infrastructure-advancing technology entrepreneurship, and is a welcoming and inspiring environment for an immigrant entrepreneur.

"Moreover, the time difference between the Nordics is manageable for daily collaboration with resources in the home area," Parviainen points out.

Guidance, help and networks

The mission of Nordic Innovation House in New York is to support and bring to fruition the full potential of Nordic innovators.  That includes providing the companies with guidance, helping in growth strategies and connecting the entrepreneurs with valuable resources and networks.

The headquarters in New York is located in a WeWork shared working space to provide the start-ups with flexible office arrangements and diverse networking opportunities.

Services for companies are offered at two levels: the basic service block and the full-service block. The full program is meant for companies in their late startup or early growth phase with some initial sales and financing. Their products or services should be fit for the Northeast U.S. market.

"New York is a natural environment for anything “hyphen tech”: fin-tech, media-tech, ad-tech, clean-tech, fashion-tech, edu-tech, and so on. The Nordics have excellent companies in those categories, and fruitful partnerships ensure," Parviainen says.

Photo credit: Tim Soter/Consulate General of Sweden in New York
Finnish Minister of Foreign Trade and Development Kai Mykkänen gave a speech at the official launch.

"As a brand-name Nordics is excellent"

As New York is probably one of the most competitive environments on the Globe, it is really important to have a support system that will ease the entry to the market for companies. Parviainen states that operating under the Nordic umbrella is very beneficial for all countries as well as the companies coming from those countries.

"As a brand-name Nordics is excellent, and often times resonates better with the U.S. audience than reference to an individual country," she mentions.

At this point, the New York Nordic Innovation House's full program is signing in the first companies. Parviainen is eagerly looking forward to the collaboration.

"With hundreds of relevant contacts in the pooled Nordic network, Nordic Innovation House in New York can open many doors, and truly connect the Nordic companies with valuable people in the area," she concludes.

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Updated 11/9/2017

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