The Irish delegation heading to Slush 2024 in Finland, the world's largest venture capital event, say they are aiming to raise €250m.
Earlier this month Enterprise Ireland confirmed they are planning to bring 24 Irish companies to the event in Helsinki this month- double the previous number.
The importance of the Nordic region to the Irish economy has grown rapidly in recent years as exports have risen from €877m in 2018 to €1.7bn by 2023.
Currently, 560 Enterprise Ireland backed companies export into Nordic countries putting the region on a par in economic terms with Germany, the Netherlands, and France.
Enterprise Ireland confirmed over half of the Irish companies are in fundraising mode (Stage A and Stage B) with plans to collectively raise over €250m in VC funding.
Leo Clancy, CEO of Enterprise Ireland said: “Enterprise Ireland invests in Irish companies to be leaders in innovation and achieve international scale.
"Slush has become an important gathering of the international VC community and has become a cornerstone of Enterprise Ireland’s strategy to support Irish companies to scale globally, with past delegations achieving significant success at the event.
"This year we are leading our largest delegation of Irish companies to Slush, to connect with global investors, strategic partners, and industry leaders in the Nordics to propel the growth of these Irish companies to the next level.”
The Irish delegation is made up of a range of companies offering innovative tech solutions across diverse sectors including cybersecurity, artificial intelligence, cloud services, blockchain, IoT, quantum computing, and drone delivery technology.
Their services enhance efficiency, security, and user experiences in industries like healthcare, transportation, gaming, and enterprise software.
Hannah Fraser, Enterprise Ireland’s Director for the Nordic Region, said: “Slush has been a game-changer for so many of our Irish companies over the years, not only to connect with the VC community, but to establish strategic partnerships with Nordic companies.
"The Nordic region has proved to be a powerhouse for Irish businesses, with exports nearly doubling over the past five years to reach €1.7bn in 2023.
"Over 560 Irish companies are exporting to the region, with Irish companies working with major players in the region including Nokia, Volvo, EQT, Lyko, Danske Bank, IKEA, Vattenfall, Ericsson and Sandvik.”
One Irish company heading to Slush, EVERYANGLE, has recently signed leading Nordic retailer Samsøe Samsøe as a key customer.
The Irish firm combines CCTV smart cameras with advanced AI, to help retailers to understand customer behaviour in-store like never before.
Using the advanced analytics platform, Samsøe Samsøe have gained valuable insights into foot traffic patterns, customer demographics, dwell time, and engagement with key product areas.
Mr David Owens, CEO of EVERYANGLE, said: “Our success in the Nordics has been transformative for EVERYANGLE. Building strong relationships with leading retailers like Samsøe Samsøe has been essential to our international growth.
"By providing them with the insights needed to optimize their stores and enhance the customer experience, we've helped them unlock new opportunities for revenue growth.
"Enterprise Ireland has been an invaluable partner, providing the right connections, insights, and support to help us scale and succeed in these markets.”
Photo: Ambassador of Finland to Ireland Leena Gardemeister the Enterprise Ireland delegation heading to Slush
