Nordic Innovation funds Hong Kong incubator

Building on the success of the Nordic Innovation Houses in Silicon Valley and New York government agencies from four Nordic countries have joined forces to open soft landing incubators in both Singapore and Hong Kong. Nordic Innovation has now decided to grant the Nordic part of the financing.

Nordic Innovation House is a soft-landing concept for Nordic entrepreneurs and small and medium sized companies who are new to a specific market or who see the benefits of a being part of a Nordic community. Nordic companies can get access to a Nordic community in important international hubs and the services offered will be complementary to what already exists through the different national trade organizations in the Nordic countries.

Choosing to set up this incubator in Hong Kong has to do with several things. It ranks as number 5 (out of 190) on the ‘Ease of doing business’ index. Hong Kong is also situated right next to the Chinese mainland market. The city is also very close to Shenzhen, which builds on market attractiveness. Investors in Hong Kong are very interested in Nordic companies in life science, clean tech and ed-tech.

Nordic Innovation is a Nordic organisation working to promote cross-border trade and innovation. Nordic Innovation’s board members are selected by the five Nordic governments. The chair of the board is an alternating position. Board meetings are held four times a year and representatives from Nordic Council of Ministers and Nordic Innovation are present at all meetings.

Source: Finnish Chamber of Commerce in Hong Kong, Nordic Innovation

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