NBSCALE

Northbound Scaleups exceeds expectations in helping companies enter new markets

In the Central Baltic area, only 2–4% of startups evolve into scaleups, highlighting a significant challenge for entrepreneurs.

The Northbound Scaleups (NBSCALE) project, a collaborative effort between Finland, Estonia, and Sweden, set out to change this narrative. The innovative project partners, Business Turku (Finland), Movexum (Sweden) and Tehnopol (Estonia), joined forces to help startups expand internationally.

Scaling up success: a transformative journey for startups

The NBSCALE programme tackled the common barriers to scaling by forming larger cross-border cohorts. This approach facilitated peer group learning, enhanced market knowledge, expanded networks, and strengthened access to key markets. The international team organized three dynamic rounds of support, including expert-led workshops, mentoring, coaching, founder-to-founder support, network building, and market discovery trips.

The participating companies got together in Tallinn, Gävle and Turku to develop their ideas.

Comprehensive support for ambitious companies

The programme supported a total of 43 ambitious companies through a multifaceted approach. Each startup received personalized coaching and access to a network of expert mentors. Peer collaboration allowed participants to learn from each other’s challenges and successes, while effective online collaboration tools ensured efficient communication and seamless resource sharing.

Key topics covered included principles of growth, team performance and productivity, evaluating target markets and competitors, and strategies for successful market entry. Companies moved on to market validation, exploring product-market fit, and refining their business models through customer engagement. Scaling strategies were tested thoroughly, and investor pitches were presented in front of a real investor feedback panel. Finally, Market Discovery Missions across various European countries generated valuable leads, helping the scaleups secure partnerships and attract customers in their target markets.

Organizers and participants of one round of NBSCALE

Impact and achievements

The structured cross-border approach of the NBSCALE programme ensured its success. Companies built a strong foundation for international growth and secured valuable investor connections. The growth of these companies translates into increased employment, economic growth, and improved well-being in the regions, not just during the project duration but in the long term.

The results speak for themselves: as of today, 35 out of the 44 participating companies across Finland, Estonia, and Sweden have achieved scaled up status. Most of these companies are already generating revenue from their target markets, with more results expected after the official project end date.

  • Finland: 14 out of 15 companies achieved scaleup status. Examples include expansion to Sweden and Ireland with new market entries into the UK, Netherlands, Germany and Austria; over 100 sites in Europe.
  • Estonia: 10 out of 15 companies achieved scaleup status. Successes include expansion to Poland, Germany, Latvia, and Lithuania. Fun fact: one company is starting to work with the International Basketball Federation (FIBA).
  • Sweden: 11 out of 14 companies achieved scaleup status. Highlights include implementing soft-landing in Germany, Norway, and Belgium, generating steady revenue, and signifcant expansions to team sizes.
Event days included talks, workshops, networking and much more.

A bright future ahead

The NBSCALE programme has not only helped startups scale but also created long-term value for partner organizations and participating scaleups. The expertise gained in supporting business scalability and identifying the right contacts has been enhanced, promising continued growth and success for the Central Baltic region.

The participating companies have expressed high satisfaction with the programme, and the investors, pro bonos, and other experts involved have gained valuable contacts and investment opportunities. Other business support organizations have also learned a great deal about running a scaleup programme, ensuring that the benefits of NBSCALE will be felt for years to come.

But you don’t need to only take our word for it;
stay tuned for another update on the feedback we received from the participating companies!