With our new BrainTech-focused investment strategy, Heka, we are expanding our geographic scope beyond the US and France. We're actively seeking to identify the next Brain Capital champion in both Europe and the US. This endeavor requires us to delve into and understand new, fascinating ecosystems.
We're deeply exploring opportunities in the Nordic countries (Denmark, Finland, Iceland, Norway), which, based on our initial observations, appear to be an attractive investment sector.
The startup ecosystem in these countries has reached significant maturity, exemplified by companies like Spotify and Oura. These success stories have fostered a robust network of business angels and funds to support innovation.
In the Nordics, the number of scaleups per capita significantly exceeds the EU average. They boast 4.26 scaleups per 100,000 inhabitants, compared to the EU average of 1.9.
Public funding is also a key contributor to the growth and development of startups. Furthermore, events like Tech BBQ and Slush unite the community, helping to elevate local startups to a global stage.
Focusing on the healthcare ecosystem, we find influential stakeholders poised to support groundbreaking projects. Academic institutions, such as the Karolinska Institute in Sweden, not only contribute to the Nobel Prize in Physiology or Medicine but also support startup innovation through pre-incubators and incubators. They provide coaching and assist startups in gathering patient cohorts.
Sweden's unique 'Professor’s Privilege' means that IP generated by researchers belongs to the researchers themselves, not the institution. This is advantageous for transforming research discoveries into marketable products.
Startups, once spin off, receive support from accelerators like Sting, which has over 20 years of experience and focuses on startups with scientifically valuable projects. This ensures support from inception to initial investment.
Another notable entity is the Brain&mind Neurocenter in Helsinki, offering selected startups access to a medical data bank. These images are crucial for training startups' algorithms.
Given the relatively small domestic markets of these countries, expansion into the US is a logical step. Our 'Road to the USA' strategy is well-suited to support them in this endeavor.
Below, you'll find a mapping of funds and partners to accelerate the development of healthcare startups in the Nordic countries.
*Funds and accelerators dedicated solely to Biotech were not included, as this is a HealthTech mapping (Medtech & digital health).
With our fund, Heka, we focus on companies that leverage the vast amount of biological data related to the brain, augmented by AI. If you are running a Nordic-based Seed BrainTech startup, feel free to reach out at email@example.com