Nordic Nations Dominate the High‑Growth Scaleup Scene
Fresh from the European Scaleup Institute’s latest European Scaleup Monitor 2024, it turns out that the cool winters of Denmark, Finland and Sweden aren’t the only thing that’s keeping these countries in top gear. They’re at the very heart of Europe’s booming high‑growth companies.
Who’s Leading the Pack?
- Nordics shine when it comes to longevity – firms that have been running for more than ten years are the best performers.
- Eastern Europe pulls a fast one with young scaleups: Poland, Lithuania, Romania and Latvia are on a roll.
What the Numbers Tell Us
The study dug into a whopping 1.5 million+ EU companies, from 2015 to 2022, tracking three years of growth for each. The researchers sorted firms into neat buckets like scalers, hyper‑growing gazelles, masterful metropolises, and superstars. The conclusion? The Scandinavians have the most seasoned players, while Eastern Europeans fuel the next generation.
Post‑COVID Comeback Stories
- Greece, Finland, Ireland, Denmark, Cyprus bounced back spectacularly – their scaler percentages shot up.
- On the flip side, Malta, Bulgaria, Luxembourg, Poland, Germany saw a slow‑down in scaler output.
Why We Care About High‑Growth Firms
„High‑growth firms are vital not just for dotting the map of jobs and innovation, but for keeping economies thriving,” says Veroniek Collewaert, Academic Director of the Institute. “Yet, governments face a real puzzle: how to help these fast‑moving beasts thrive without a clear playbook.”
Services Reign Supreme
- Industries like information & communication, administrative & support services, and professional, scientific & technical activities lead the growth charts.
- Meanwhile, accommodation & food services have the biggest post‑COVID recovery.
Behind the Mission
Leonardo Fuligni, Executive Director, says the Institute is “on a mission to make Europe the ultimate scaleup playground.” The aim is to blend academic research with real‑world practice, giving innovative SMEs the tools and support they need. Think of it as a giant knowledge‑sharing hub for policymakers, researchers, and entrepreneurs alike.
Who’s on Board?
The institute partners with top schools and research centers: Vlerick, ESSEC, Erasmus’ Centre for Entrepreneurship, Rotterdam, WHU, ESADE, NOVA, Luiss, and the University of Galway.
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