The award celebrates companies that have demonstrated exceptional growth, strong international ambition, and the ability to scale sustainably in highly competitive global markets. The winner was announced in Stockholm on May 28.
"This award belongs to the whole team. It tells us the market is catching up to what we've been building — Production Quantum. That's the best kind of validation. Production Quantum means you own the system; you operate it, you build on it — no cloud dependency, no waiting", said Pasi Kivinen, VP Operations of IQM.
The Jury’s reasoning for awarding IQM is:
This year’s winner of the Nordic Scaleup Awards stands out through exceptional technological leadership and strong international momentum. Scaling a truly category-defining solution, the company combines a deep and highly defensible technology foundation with clear global relevance. Having reached unicorn status and now on track to becoming the first European listed quantum company, it is positioning Europe at the forefront of a global technological race.
The journey reflects pioneering innovation and long-term sustainability potential, enabling breakthrough applications and setting a high standard for deep tech scaleups in the Nordics.
This year’s winners were selected from a strong field of six finalists drawn from an initial pool of 36 companies. These six finalists represent the pinnacle of Nordic capital efficacy, deep‑tech defensibility, and a clear trajectory toward profitability.
The six finalists reflect the highest level of Nordic innovation and growth, and they all embody what successful scaling looks like. We are proud to recognize their achievements and congratulate IQM on being named the winner of the Nordic Scaleup Award 2026
- Sindre Bornstein, CEO of Nordic Innovation
The Six Nominees
- Flatpay (Denmark)
- Yazen (Sweden)
- Lunar (Denmark)
- Treble.tech (Iceland)
- IQM Quantum (Finland)
- Two Inc (Norway)
Together, these companies reflect the breadth and strength of the Nordic scaleup ecosystem, spanning fintech, deep‑tech, quantum technology, and digital innovation.
The jury evaluated companies based on measurable growth, scalability, leadership strength, and international potential.
The jury:
- Hanna Viinikainen, Partner, Juuri Partners
- Arne Tonning, Partner, Alliance VC
- Freyr Friðfinnsson, Key Account Manager - Industries and IP,
- Federation of Icelandic Industries
- Anne-Louise Thon-Jensen, Partner and co-founder of SDG Invest and Vår Ventures
- Emil Sunvisson, CEO, Qred Bank (Winner of Nordic Scaler Award 2024)
Nordic Innovation defines a scaleup as a company with a minimum annual revenue of EUR 2 million, at least 10 employees, and an annual growth rate of at least 20 percent over the past three years.
The Nordic Scaleup Award is organized by Dagens Industri in cooperation with Nordic Innovation. Epicenter is responsible for the communication to and recruitment of companies for the Nordic Scaleup Award 2026. The award wish to supports high‑growth companies in accelerating international expansion, strengthening leadership capabilities, and building scalable business models.
