Boosting growth of Nordic companies in Asia with Nordic collaboration

A new cooperation between Nordic business organisations aims to test new operating models and create new business opportunities for companies.

This spring, Nopef (the Nordic Project Fund), together with Nordic Innovation and Nordic Innovation House Tokyo, will collaborate to boost Nordic companies’ growth efforts in Asian markets. The goal of the first-of-its-kind collaboration is to create new business opportunities for Nordic companies while identifying synergies and testing new operating models between the organisations.

The first result of the Nordic collaboration will be a delegation trip to Japan. Nordic companies in the battery value chain are invited to gain first-hand experience of Nordic activities at Battery Japan, the world’s leading international exhibition for rechargeable batteries, organised in Tokyo 15-17 March. The goal is to promote and showcase the Nordics as an emerging region in the battery industry as well as present Nordic companies and solutions to the most important Japanese stakeholders and business connections. The delegation is open for both small and large Nordic corporates and the application deadline is 30 January. Read more on how to apply.

“The Nordic brand is strong in Japan, particularly in the fields of cleantech and sustainability. Decarbonised energy solutions are a focus area for Nordic Innovation House Tokyo, as the Japanese government has announced its ambitions for net zero carbon emissions by 2050. We are excited to welcome many Nordic companies in the battery value chain to showcase their solutions,” said Niklas Karvonen, Community Director at Nordic Innovation House Tokyo.

The companies for the delegation visit to Japan will be selected by the end of February. For participating small and medium-sized companies, Nopef will provide financial support to cover part of the costs of the delegation trip. Participating companies can also apply for financial support from Nopef in the following stage of their internationalisation.

Nordic Innovation House Tokyo, together with local Nordic trade promotion officers, is the implementing partner and organiser of the delegation trip. The cooperation between Nopef and Nordic Innovation Tokyo is coordinated by Nefco and Nordic Innovation. Nordic Innovation also finances the work of Nordic Innovation House Tokyo related to the planned delegation trip.

The cooperation is based on the Nordic Council of Ministers’ decision in August 2021 that Nordic Innovation and Nopef should jointly prepare a proposal for future cooperation.

“We are happy to see the cooperation now taking place in practice not only with Nordic Innovation and Nopef, but also with Nordic Innovation House Tokyo. A similar trilateral pilot project is also taking place with Nordic Innovation House Singapore,” commented Anna-Maija Sunnanmark, Head of Program and Senior Adviser at Nordic Innovation.

Nopef has extensive experience working with companies taking their first steps in new foreign markets. Nefco has been the fund manager of Nopef since 2014.

“This collaboration is a great opportunity for all organisations to review how we can further lower the barriers for Nordic companies planning to scale up operations outside their home region,” said Mikael Reims, VP, Origination at Nefco.

For more information, please contact:

Mikael Reims, Vice President, Origination, Nefco, +358 10 6180 670

About Nopef

Nopef (the Nordic Project Fund) aims to promote the green transition to a climate-neutral and sustainable society by funding feasibility studies for the internationalisation of Nordic environmental and climate solutions. It offers financial support to Nordic small and medium-sized growth companies (SMEs) with a special focus on promoting green investments with demonstration value and potential for scale-up and growth in international markets. Nopef has financed 3,240 projects with total value of € 112 million. Nopef’s operations contribute to the objectives of the Nordic Vision 2030 and to Nordic interests, particularly in the areas of circular economy, sustainable ocean economy and sustainable construction and buildings. Nopef is funded by the Nordic Council of Ministers and managed by Nefco – the Nordic Green Bank.

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