A dynamic educational technology industry is growing in the Nordic countries. A recent study carried out by Silicon Vikings has mapped out the educational technology (edtech) landscape in our region. The overarching goal was to create a vibrant, knowledgeable and collaborative Nordic edtech community, and assist Nordic edtech companies trying to enter international markets.
The study builds on an earlier project from 2013 called Nordic Edrupreneuring – also funded by Nordic Innovation – which analysed the emerging Nordic edtech industry. In the last five years or so, edtech startups have gained more attention and interest. Silicon Vikings identified 323 Nordic edtech companies, all presented on the projects’ website Nordic EdTech Network.
The study finds that access to seed capital is good in the Nordic countries, but later stage funding from private investors proves to be more challenging to find. There is also a strong focus on the school segment of the edtech market at the expense of other, potentially profitable, market segments, such as corporate learning and life-long-learning.
There is a large potential for the continued growth and expansion of Nordic edtech industry. This study puts forward the following recommendations:
- Strengthening of cross-border connections in the Nordic region.
- Collaborative initiatives for Nordic edtech companies to expand internationally.
- Education of Nordic investors about edtech opportunities.
- Working with Nordic policymakers to streamline rules and regulations affecting edtech start-ups.
