We're heading into the weekend with new insights, lots of inspiration, and a strong belief in the Nordic ecosystem. Here are three key takeaways:
1. Great people: Even at tech conferences, it's all about the people you meet and the learnings and inspiration you gain from them. Some meetings were scheduled, while others occurred through serendipitous encounters at the bar during the byFounders after-party. We extend our gratitude to both old and new friends for engaging in meaningful conversations.
2. Nordics are attractive for international investors: Investors from abroad are showing more interest in the Nordics than ever before, even in the earlier stages of startups. The region's strong institutions, access to talent, and digitalized societies continue to be highlighted as key reasons. Furthermore, the shift towards local and European solutions (partly due to security policy considerations) is opening doors for Nordic companies to challenge U.S. and Asian competitors, particularly in sectors like energy and manufacturing.
3. Optimistic outlook: Remarkable founders are still taking on the world's most significant challenges, and investors are actively seeking out these opportunities to help build exceptional companies. This trend is expected to persist, regardless of whether current funding levels represent the "new normal," when the IPO window opens up, or changes in interest rates. In the words of Anders Mjåset, "Don't exaggerate and buy into the gloom and doom narrative." The consensus among experts seems to be cautiously optimistic, possibly indicating that the "new normal" may settle at a healthy, sustainable level, still fueling growth, somewhere between H2 '22 and H1 '23, following the previous bull run.
TechBBQ, now in its 11th edition, has transformed from a barbecue gathering for tech enthusiasts and entrepreneurs in 2013 into a global summit that draws over 7,500 attendees from around the world for two days of inspiration, networking, and growth. Its primary goal is to connect the Nordic and Baltic tech ecosystem with the global tech community, ultimately fostering the growth of startups and scaleups. The latest edition welcomed 880 investors, 2,600 startups, and 620 scaleups.