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The Helsinki Startup Ecosystem in 2023

Helsinki startups attracted €204M in investment in H1 2023

VC investment has gone back to 2017-18 levels. However, when excluding megarounds, Helsinki shows more resilience than the Nordic average (-28% vs -33%), and ahead of other Nordic hubs.

Helsinki is a hotspot for deep tech and impact

Helsinki deep tech startups raised 30% of all VC investment since 2022, and they make up 26% of all startup jobs in the city. While impact startups make up 14% of the workforce.

In Helsinki, nearly 50% off all startup jobs are created by smaller companies

Job creation is driven by smaller companies – those with less than 50 global employees. As of March 2023, 1K startups employed 47% of all employees in the ecosystem.

3 in every 5 local startup jobs are created by companies founded in the last 10 years

The 800+ companies founded in Helsinki since 2012 employ 11.7K people, or 61% of Helsinki startup workforce.

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