All curves for 2013 are climbing and the overall inflow of capital increased by 20 % and reached just under EUR 243 million, an increase coming entirely from the private investments, while the level of public funding remained roughly the same. The highest number of deals (251 deals) since 2007 was reported. Sweden and Finland took the lead in private investments, both having had a significant growth in 2013, while Norway showed an increase compared to the low years of 2011 and 2012, and Denmark had a low activity year.

In 2013 we have seen things unheard of during the peak years, such as industrial partnerships between start-ups and global corporations, market-driven grants and support tools from the government and, probably most importantly, serial cleantech entrepreneurs, says Svetlana Gross at Cleantech Scandinavia, author of the report.

International investors have continued to be active in the region, participating in 4 out of the top 10 investments this year and it is difficult to overestimate the importance since it not only opens larger funding opportunities but also new markets for internationalisation

The number of Nordic cleantech companies that receives public funding continues to grow and although the amounts as a share of total investments where stagnant in 2013 public support to the cleantech sector is indispensable.

“We see broader governmental participation in venture investing on all levels: from an increased share of public funding being invested in new VC funds, intensifying direct investments from government backed VC funds, intensifying public support to companies and providing co-financing to private investors in the form of grants and loans”, says Svetlana Gross.

With an unparalleled pipeline of cleantech start-ups coming out of the innovation system in Sweden, this bodes well for the future.

Cleantech Scandinavia

 Cleantech Scandinavia is a membership network of investors and affiliated cleantech professionals designed to provide cleantech knowledge, contacts and investment opportunities; be a coordinating voice to promote the Nordic cleantech sector, and drive cleantech innovation and growth in the Nordic countries. Cleantech Scandinavia offers its members a series of networking and pitching events, business intelligence research and reports including Nordic cleantech deal flow statistics, and holds a database of investment opportunities in the region.