At the beginning of last year, we published an article called “the cluster in numbers” and had the boldness of declaring that the year before laid the foundation for a great year in 2022. The conclusion is now that last year became a truly great year for the Nordic Edge smart city cluster and a great majority of our members.
– Summing up the year in numbers shows us that the companies in the cluster are creating new technology and services, and that investors believe in what is being developed, says Trygve A. Meyer, head of the cluster.
Members and growth
At the beginning of 2023, there were 117 member companies in the cluster, up more than 20 percent from the previous year. All the members, of which 74 are in the category startups, work together in various constellations to bring about the creative new products, and services within the field of smarter and more sustainable cities and communities. An evaluation of accounting numbers from proff.no is also showing that the revenue growth among the cluster members is on average about 80 percent.
– It is satisfying to see that the companies are growing and the progress towards our goal of an export industry is moving along nicely, says Meyer.
Their growth would not be possible without proper financing, and the cluster has worked hard on creating an international finance network of everything from seed capital firms to venture capital and banks. This finance network now consists of more than 60 financial Institutions, doubling from a year earlier.
– The focus on proper financing has proven correct and we are now seeing the results, says Emilie Christensen, the project manager who heads up the effort for Nordic Edge.
More financing and more jobs
At the end of 2022, the numbers show that the cluster members brought in 181 million kroner from private investors during the year. In addition, they applied for and were granted a total of 214MNOK from Innovation Norway and the Norwegian Research Council.
The increased activity levels are also showing up in other numbers related to the cluster. Last year, the smaller members created more than 275 new jobs, an increase from 250 new jobs the year before.
Also the complete Nordic Edge smart city ecosystem has been growing. It now includes more than 120 Norwegian and international municipalities, over 20 Norwegian and international research institutions, and more than 60 Norwegian and international innovation clusters in various fields, plus international non-governmental organizations, and other partners. All in all, the ecosystem contains more than 400 smart city actors from around Europe and the rest of the world.
Projects – new and old
As a result of the great network, and the many connections between the cluster members, the activity levels manifest themselves in projects. These projects take place both within the cluster and directly among the cluster members. The cluster has 25 large and small projects funded through its annual grant from Innovation Norway.
The projects build up under the collaborative muscle that is Nordic Edge through increasing the innovative capacity in the cluster, priming the market for smart city technology, and securing financing for future growth for the cluster members.
It is also worth mentioning that Nordic Edge recently secured two EU projects, with a combined value of around 80 million kroner, that will benefit members in the years to come. See the websites www.dihoceanopolis.com and www.nebstar.eu for more information about these.
It will, in other words, be full steam ahead in 2023.