The mission of Nordic Compass is to secure the implementation of Nordic initiatives that reinforce the region’s competitiveness, potentially scaling it to EU dimensions. Building on the Draghi Report, the initiative will explore how Nordic industry and governments can enhance Nordic competitiveness and economic resilience at a faster pace than currently possible in the wider European context.
Nordic Compass is an alliance with major Nordic industry actors. The partners include Aker ASA, Aker Solutions, Alfa Laval, atNorth, Carl Bennet AB, Chr. Augustinus Fabrikker, Danfoss, Embla Medical, EQT, Ericsson, EY, The Finnish Innovation Fund Sitra, KONE, Kromann Reumert, McKinsey & Company, Nasdaq Nordic, Nokia, Nordea, Nordic Innovation, Novo Nordisk Foundation, Nscale, Saab, SEB, Vattenfall, Wallenberg Investments, and Ørsted. As co-initiators, Dalberg and the Enterprise Think Tank oversee day-to-day operations.
The board, chaired by former Finnish Prime Minister Jyrki Katainen and Kristin Skogen Lund, provides strategic direction. Its members are Øyvind Eriksen (Norway), Ásta Fjeldsted (Iceland), Antti Herlin (Finland), Lars Rebien Sørensen (Denmark), Jacob Wallenberg (Sweden), as well as Christian Frigast and Henrik Skovby. Additionally, a Nordic Advisory Board provides national insights through eight prominent representatives of the Nordic countries plus the Secretary-General of the Nordic Council of Ministers.
Why a Nordic Round Table for Industry?
In a world where the rules-based order is eroding rapidly, small, open democracies must intensify cooperation. Today, competitiveness and resilience are not merely economic issues; they are strategic imperatives. Individually small but powerful together, the Nordics can shape markets, set standards, and drive innovation in critical sectors. Together, we are the world’s 12th largest economy, home to 28 million people, with abundant resources, high trust, strong institutions, and world-class innovation.
Nordic Compass will each year;
- identify 4-6 concrete initiatives for action with high-impact opportunities
- assemble Nordic business and political leadership to scrutinize and endorse proposed actions
- provide the framework for systematic implementation of the actions deemed most effective
How does it work?
In our first year, the project will focus on strategic areas such as: Capital Markets, Deep Tech, and Energy. The work will advance along two axes.
Industry-backed initiatives: Industry experts will identify initiatives across the priority areas that can scale through Nordic coordination and define structured pathways for further development. In parallel, an overarching scene-setter will apply Draghi’s analysis to the Nordic context.
Nordic Compass Summit: The developed initiatives will be advanced at the Nordic Compass Summit in Gothenburg on November 4–5, 2026.
Nordic Compass will function as a clearinghouse, helping reduce duplication and capitalize on national strengths. It operates under a governance model built to ensure broad-based Nordic industry representation and effective delivery.
Background
Nordic Compass - The Nordic Roundtable for Industry is supported under the two programs: Nordic Forward: Resilience and competitiveness for 2050 and Nordic Growth and Capital Attraction.
