Among the finalists were three Finnish, one Norwegian, and two Swedish companies, showcasing the diversity and dynamic development of scaleups in the Nordics.
“Scaleups play a crucial role in the Nordic economy and contribute significantly to value creation in the region. It is interesting to note that the six finalists represent industries where each country has its strengths. Qred, the winner of this year’s award, scored high on all five criteria and is a deserving recipient” says Svein Berg, Managing Director at Nordic Innovation.
The jury's reasoning
The Jury’s reasoning for awarding Qred is:
This year’s winner of the Nordic Scaleup Awards is disrupting a conventional market by addressing an underserved segment. In their scaling journey they have brought unconventional social impact, by helping other entrepreneurs to scale their businesses. They have been on the Financial Times’ list of fastest-growing European companies for four consecutive years.
“I am overwhelmed and felt very humble as I sat here at the dinner with so many competent companies. Qred’s strength lies in the conviction that we are doing something good — a satisfaction in helping the smallest businesses. We are a company with many young employees; the average age is 30 years, and half of them are not from Sweden. This creates a unique atmosphere; we are like a big family working together. This award inspires us; it feels like we, as a newly established bank specialized for small businesses, have only scratched the surface of this market,” says Emil Sunvisson, CEO at Qred.
The six companies that reached the final were:
- IQM
- Kempower
- Nofitech
- Pulpac
- Qred
- Virta
Nordic Innovation's scale up definition is an annual revenue at minimum of EURO 2 million, personnel of at least 10 people and an annual growth figure of at least 20 % in the past consecutive three years.
Jury:
- Anne
- Javad Mushtaq, Managing Partner, WE &Capital
- Nora Bavery, General partner, Unconventional Ventures
- Juha Lehtola, Director, Venture Capit
ral Tesi - Svein Berg, Managing Director, Nordic Innovation
About the Award:
Nordic Scaleup Summit and Nordic Scaleup Awards 2024 took place 29th of May in Stockholm and is the premier gathering of leading entrepreneurs, investors, and policymakers from the Nordic countries. The aim of the award is to recognize Nordic high-growth companies and entrepreneurs that run them, highlight their success stories and impact on the Nordic economy and society.
Nordic Innovation is the organizer of the award, in collaboration with Dagens Industri.
