Ericsson joins industry leaders to launch Nordic Compass

With a shared belief that regional cooperation has been underutilized to date, members of Nordic Compass have identified four strategic areas requiring speedy action.

They say public-private partnership success across the four areas - Capital Markets, Deep Tech, Defense, and Energy – is essential for the Nordics to remain competitive and resilient globally,  

Industry-backed initiatives will be created in each priority area. Nordic Compass will collaborate with industry associations, interest organizations and other regional stakeholders. The first set of initiatives will be presented at the Nordic Compass Summit in November in Gothenburg, Sweden, in November.

Jenny Lindqvist, Head of Business Area Cloud Software and Services, Ericsson, who will represent the company in the Nordic Compass initiative, says: “With its strong innovation ecosystem, the Nordic region can play a key role in strengthening Europe’s competitiveness. Together with partners across the Nordics, Ericsson will highlight how technology and advanced connectivity can drive sustainable growth for the region and for Europe.”  

The Nordic Compass Board includes well known public and business figures including its Chair, the former Prime Minister of Finland, Jyrki Katainen, who is also a former Vice-President of the European Commission for Jobs, Growth, Investment and Competitiveness.

Jacob Wallenberg - Chair of the Board at Investor AB, Vice Chair of the Wallenberg Investments AB Board, and Vice Chair of Ericsson’s Board of Directors – is also a Nordic Compass Board member.

Jyrki Katainen says: “Europe is engaged in a timely debate about competitiveness and renewal. But while European-level processes will take time, the Nordics are able to move faster and demonstrate effective implementation. Nordic Compass has been established to realize the opportunity for the Nordic countries and corporates to act together, shape markets, set standards, and power innovation in the most critical sectors of our time.”

Jacob Wallenberg says: “Nordic Compass is a response to the need to boost our economies. As the Nordic countries are home to some of the world's most innovative companies, we have the potential to make better use of our strengths and create stronger economic growth together. I believe more structured Nordic collaboration can also inspire and be an important component in strengthening competitiveness in Europe at large."

Other Nordic Compass members include: Aker ASA, Aker Solutions, Alfa Laval, atNorth, Carl Bennet AB, Chr. Augustinus Fabrikker, Danfoss, Embla Medical, EQT, Ericsson, EY, The Finnish Innovation Fund Sitra, KONE, Kromann Reumert, McKinsey & Company, Nasdaq Nordic, Nokia, Nordea, Nordic Innovation, Novo Nordisk Foundation, Nscale, Saab, SEB, Vattenfall, Wallenberg Investments, and Ørsted. As co-initiators, Dalberg and the Enterprise Think Tank oversee day-to-day operations.

Other Nordic Compass Board members include its Vice Chair, Kristin Skogen Lund from Norway, who is also the chair of the Board at INSEAD; Norway’s Øyvind Eriksen, CEO of Aker ASA; Iceland’s Ásta Fjeldsted, CEO of Festi hf.; Finland’s Antti Herlin, Chair of the Board of Directors at KONE Corporation; and Denmark’s Lars Rebien Sørensen, Chair of the Board of Directors at Novo Nordisk Foundation.

Denmark’s Christian Frigast, Chair of the Board, Enterprise Think Tank; and Henrik Skovby, Founder and Executive Chairman of the Dalberg Group, will serve as Secretary-Generals.