There is a great capacity to create innovation in the Nordic countries, and there are excellent opportunities to become better both by learning from each other and from countries outside the region.

The Nordic region is particularly strong in information and communication technology (ICT) and in knowledge creation, and the countries are investing heavily in these areas.

The region, on the other hand, lags behind the world's best countries with regard to stimulating high growth entrepreneurship and offering a large proportion of highly skilled workers.

The Nordic region's framework conditions for innovation are described in the publication "Nordic innovation monitor".

Nordic co-operation in innovation

The Nordic countries are working to promote new forms of innovation by involving users in the development of products and services, by creating better access to knowledge centres in other parts of the world, and by creating products and methods that can solve major societal problems.

The Nordic countries co-operate to improve their innovation abilities in many different ways. This applies to research driven innovation, user-driven innovation, innovation in design and the creative industries, innovation in climate and energy challenges, as well as open innovation through access to the knowledge centres in Asia.

The Nordic countries have, in co-operation with the other countries around the Baltic Sea, also developed a solid network for strengthening business clusters in the region, including co-operation between companies, knowledge centres and public authorities.

Nordic Innovation

Nordic Innovation is the Nordic Council of Ministers' most important instrument for promoting an innovative, knowledge-based business sector.  Nordic Innovation also co-funds projects; its investment portfolio consists of approximately 120 active projects and networks.