The Slush conference in Helsinki once again highlighted an exciting, often overlooked truth: innovation isn’t just Silicon Valley’s game anymore. The Nordics—think Sweden, Denmark, Finland—are proving that a unique blend of social safety nets, government support, and a culture encouraging risk-taking creates fertile ground for AI and deep tech startups. Dennis Green-Lieber's insights underscore this perfectly; the comfort of a safety net lets founders lean into bold ideas without the paralyzing fear of total failure.
This goes beyond just financial injections—although $8 billion in venture investments is nothing to sneeze at. It’s about a societal ecosystem that values measured risk and ownership. The pace might feel 'a few years behind' the US or China, but these startups are sprinting ahead rapidly, catching up by innovating smartly rather than just quickly.
When it comes to AI bubbles, Dennis offers a pragmatic view: yes, some investment might be misplaced, but that’s the nature of venture capital. Instead of fearing bubbles, we should channel a bit of healthy skepticism while remaining optimistic about unexplored AI opportunities.
For technologists and investors alike, the Nordic model is a reminder that robust innovation ecosystems don’t spring up from thin air—they’re cultivated through balanced societal values, government backing, and a tolerance for risk. So next time you think AI is all about flashy launches in California, look north—you might find the next big thing brewing quietly but powerfully. Source: Breaking down the boom in the Nordic’s startup ecosystem
