Nordic Life Science 1
NordForsk measures that can help fill the air wit
h oxygen again for companies, both within life sciences and other industries alike. There are good reasons to step-up the game for the Nordic decision-makers. Although tough times have hit us, we seem to be better off than start-up scenes and life science-ecosystems in other parts of the world, as reported by several financial actors and media1 . The reasons behind this are yet to be analyzed, but it is clear that, during this pandemic, we have seen some encouraging examples of Nordic collaboration at its best, despite what the overall picture might lead us to believe. One such example is the launch of Eir Ventures: Nordic VC actors, public and private, coming together to establish a new fund with €76m dedicated towards investments in life science companies. Eir’s establishment has definitely raised the oxygen level a bit. Another example is the Nordic Life Science Consortium, now needed more than ever, working towards attracting investors and business partners from all across the world to our region. Moreover, incubators and life science industry organizations across the Nordics have come together to launch Nordic Life Science Invest* . There are also more direct ways in which the Nordic collaboration has played a part in coping with the pandemic, and will continue to do so if we work together in an intelligent way. Even as borders have closed, these neighbors have still held out a hand to each other, providing key medical equipment, such as Finland offering aid to Sweden – literally helping Swedes to breathe. We have begun the crucial work of coordinating our access to key pharmaceuticals and reviewing what should be produced within our respective countries, and what should not. It has become clear that we cannot solely rely on the international market channels. Therefore, production lines should be developed within the Nordics to ensure basic supply of pharmaceuticals such as antibiotics. Helena Strigård, Director General, SwedenBIO This kind of capacity-building takes time. It involves adapting infrastructures and ensuring analytical capacity. We might not be able to reap the benefits of a coordinated approach to domestic supply within the Nordics in the months or even year to come. But we need to start now, so that we are more ready to take on the challenge of the next pandemic, whenever it comes. The Nordic life science partnership among private and semi-public actors is growing stronger. We urge the governments of Sweden, Norway, Finland, Denmark and Iceland to follow suit. NLS REFERENCES AND FACTS * NORDIC LIFE SCIENCE INVEST A pan-Nordic initiative by SwedenBIO, BioInnovation Institute in Denmark, Promote Iceland, Health Turku, Uppsala Innovation Center, Norway HealthTech and The Life Science Cluster in Norway. This platform aims to bridge the gap between investors and early stage life science companies, giving entrepreneurs the opportunity to pitch to a range of national and international investors, under the umbrella of Nordic Life Science Days: nlsinvest.com 1) REFERENCES • computerweekly.com/news/252466955/Nordic-startup-scene-can-rival-Silicon-Valley • danskebank.com/-/media/danske-bank-com/file-cloud/2020/5/state-of-nordic-impact-start-ups-2020.pdf • www2.deloitte.com/content/dam/Deloitte/dk/Documents/audit/Corona%20impact%20monitor_12%20 June%202020.pdf • fortune.com/2019/11/12/silicon-valley-bank-denmark-unicorns-cheap-loans-tech-startups • medium.com/datadriveninvestor/nordic-vc-and-startup-ecosystem-1fa0dfb3de19 • nordics.vc/report NORDICLIFESCIENCE.ORG 99