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When it comes to green technology, the Nordics stand out, with Denmark, Norway, Sweden, Finland, Iceland, the Faroe Islands, Greenland, and the US making up the top 10 of the Organization for Economic Co-operation Development's list of the world's most promising regions for green startups.
But while Denmark, Norway, Sweden, Finland, Iceland, the Faroe Islands, Greenland, and the US all rank above average for starting new companies, 95% of the region's startups have opted not to expand beyond the region for more than a decade, Forbes reports.
And that's not just because of a lack of venture capital.
In fact, the region has attracted 30% of European funding in climate technology since 2015, with most going toward B2B-oriented manufacturing and deep technology startups.
But when it comes to scaling up, the region's startups face many challenges, including the loss of skilled workers, costs associated with locating new locations, and the difficulty of setting up a resilient business network.
In fact, the Organization for Economic Co-operation Development reports that 95% of the region's startups have opted not to expand beyond the region for more than a decade.
So what can the Nordics do to position themselves as the world's most
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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Foundation: Share Our Strength
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Social Entrepreneurship
Spotlight
Celebrity Chef Jamie Oliver Backs Social Saturday
UK will be celebrating its first national celebration of social enterprises dubbed as Social Saturday. World famous celebrity chef Jamie Oliver, who founded the Fifteen restaurant chain.
