Nordic Innovation House in New York green-lighted

Initiative aims to assist Nordic startups breach the eastern market in the US

According to the Nordic Council of Ministers (NCM), the Nordic nations are on the brink of opening a new Nordic house of innovation in the Manhattan district of New York City this spring.

The Nordic Innovation House aims to help Nordic companies gain a more fortified foothold in the US market while fostering sustainable growth in the Nordic Region.

“I am very happy we are strengthening Nordic business co-operation with the Nordic Innovation House in New York City. It is an important step towards ensuring that Nordic startups can get the best possibilities for access and success in USA,” said Dagfinn Høybråten, the secretary general of the NCM.

“By building a solid common Nordic platform for entrepreneurs and startups, new doors open for closer co-operation and, at the very least, an incredible opportunity for the Nordic countries to grow stronger together.”

READ MORE: Bonds between Danish companies and Silicon Valley strengthened

Silicon Valley success
The project in New York follows in the footsteps of the successful Nordic Innovation House in Silicon Valley, which has developed into a pillar for Nordic startups in the west-coast region.

The Nordic hub in New York will offer Nordic startups assistance on legal issues, accounting, taxes, work permits and other challenges faced when trying to enter the US market on the east coast.

The innovation house in New York is expected to open this spring and be operating at full capacity by the autumn – although it will remain a pilot project for the next three years before hopefully becoming financially self-sufficient.