The second annual job report on Nordic startups, in partnership with Danske Bank Growth.
Key Takeaways:
Nordic startups support over 340K jobs globally, 193K of which spread across 250+ cities in all five nordic nations.
80% of jobs at Nordic startups are at startups (<50 employees) and scaleups (50-500).
This has so far shielded the Nordic ecosystem from widespread loss of opportunities that have more greatly affected large late-stage tech “grown-ups” and unicorn employers.
Early-stage investment provides a lifeline to job growth in the startup sector, in spite of layoffs.
Pre-Seed to Series A rounds into Nordic startups average $1.6B in volume per quarter for the past 3 years.
Since most new jobs are created by young growth startups, the dynamism of early-stage funding and its impact on the ability of the younger generation of startups to hire, has largely compensated for the loss of jobs at household names in the industry over the past year.
1 in 7 startup jobs in the Nordics are at impact startups.
With 28K jobs created, Impact companies account for 14% of all startup jobs in the Nordics, up from 10% last year. More impact startups are being founded.
Many of these impact starts also growing faster – energy and climate tech is now the top funded segment in the Nordics. Impact startups also attract more applicants for open vacancies.