“18% of scaleups within ICT and professional services and 15% of scaleups within medium/high-tech manufacturing become foreign owned, compared to 4% in construction,” he continues.
Peter Bøegh Nielsen underlines that the concentration of acquisitions in higher value-added activities reflects the comparative advantages of Nordic countries in these sectors.
Report provides new information on the life cycle of Nordic scaleups
A new report by OECD: Grow and Go? Retaining scale-ups in the Nordic countries investigates how scaleups and their employees are affected by three parameters:
- Relocations: when their headquarter moves to another region
- Expansions: when the firm opens an establishment in a new region
- Foreign acquisitions: when the ultimate ownership changes from domestic to foreign
The report reveals new information on how these parameters impact the life cycle of Nordic scaleups.
Anna-Maija Sunnanmark, Head of Program at Nordic Innovation, says:
“The majority of Nordic scaleups choose to retain their activities in the region where they are founded. Expansions to new regions by opening new branches are four times as frequent as complete relocations.”
“However, the 50 fastest growing scaleups in each Nordic country are more likely to relocate and expand than the rest of the scaleups. The report also assesses whether relocation, expansion and foreign acquisition are associated with positive or negative outcomes for the employees since relocations and expansions can be a challenge for talent retention.”
To be launched in September
The report will be launched during a webinar on 12 September, 13.00. The webinar will present some of the key points from the report and a panel discussion on understanding and helping Nordic SME’s to scale up will take place. More information on the webinar will follow.
