In case you’re an investor in search of promising development know-how startups or an organization desirous to collaborate with a startup, the Nordics is a superb space to discover. This grew to become evident throughout the annual Nordic PropTech Awards, which had over 150 finalists.

The winners of the six award classes have been introduced on March 6, 2025, in Copenhagen. Because the Vice President of PropTech Finland’s steering group, I used to be delighted to see three of the 29 Finnish finalists win the highest prize! The entries have been judged by a jury of over 40, together with traders, firm executives, and ecosystem members.

The award classes mirror the flexibility of the Nordic startup scene. Every of the next had a number of noteworthy contestants from Denmark, Finland, Iceland, Norway, and Sweden:

  • Mobility & Sustainable Cities
  • Power
  • Sustainable & Wholesome Buildings
  • Actual Property Fintech
  • Contech
  • Property Administration

Finland – A superb breeding floor for startups

Finland is constantly ranked because the world’s happiest nation by the World Happiness Report. Alongside its Nordic sisters, it offers a superb atmosphere for startups.

The Nordics shine in lots of statistics about digitalization and innovation. For instance, Finland is ranked second within the European Fee’s DESI indicator for residents with the above fundamental digital abilities. Denmark and Sweden are among the many high seven (Norway just isn’t within the EU). Digitalization is supported by a superb infrastructure, with moderately priced entry to 5G cell networks and quick fiber connections.

The Nordic nations are welfare states providing free greater schooling and grants to innovators. Native governments are devoted to sustainability and are leaders in digitalization. As an illustration, the Finnish authorities is making a nationwide data system for the constructed atmosphere and implementing BIM-based constructing allowing.

Finnish cities are additionally quickly advancing when it comes to digitalization. The nation’s capital, Helsinki, is growing a digital twin of the town and offering real-time open knowledge for everybody to make use of alongside different metropolitan space cities.

A thriving PropTech startup ecosystem

Finland boasts one of many highest startup-per-capita ratios in Europe. Whereas Oura, Aiven, Relex, and HMD International are well-known Finnish unicorns, quite a few smaller startups additionally thrive.

The Finnish authorities actively helps innovation by means of funding applications like these of Enterprise Finland and initiatives such because the Startup Allow for non-EU entrepreneurs.

In 2018, constructed atmosphere organizations launched KIRAHub, the innovation ecosystem for the Finnish constructed atmosphere. KIRAHub has its house base on the Maria 01 campus, one of many main startup communities in Europe with round 200 startups and 30 VCs.

I’ve collaborated with KIRAHub from the start, and AEC Enterprise lately joined the neighborhood.

KIRAHub hosts three ecosystems, one is PropTech Finland, which offers assist and assets to assist startups develop and succeed, together with entry to funding, mentorship, and networking alternatives. Moreover, PropTech Finland fosters connections between startups, companies, and traders to speed up the adoption of improvements.

Potential for progress

Finnish PropTech startups excel particularly in digitalization and local weather tech–areas with appreciable worldwide demand.

Finland has been a world chief in BIM adoption and among the many leaders in lean development, and lots of startups construct on these strengths. Finns additionally shine amongst VR and digital twin applied sciences, with the globally famend Varjo being one of many forerunners.

A number of Finnish development tech startups, together with Builderhead, Caidio, Congrid, Cloudpermit, Sitedrive, GBuilder, and Hyperion Robotics, have the potential to change into world success tales.

A difficult enterprise atmosphere

Building is without doubt one of the most difficult enterprise sectors for startups as a result of established enterprise fashions usually have low revenue margins and threat tolerance. That’s exactly why the business desperately wants improvements and leaders who can redefine worth creation, leverage know-how to drive effectivity, and construct resilient, high-growth companies that may propel the sector ahead.

Nevertheless, breaking into the business just isn’t straightforward. Startups battle to search out the primary dedicated prospects who will present credibility to traders. Due to this fact, startups should concentrate on and excel at a core providing that creates plain worth for early adopters.

Moreover, ConTech startups should adapt to the development enterprise’s project-based nature, which presents distinctive challenges in comparison with shopper or process-based companies. Many Finnish ConTech startups have founders or companions with a development background, making this simpler.

Wanting ahead

The Finnish PropTech winners—Koherent, Smartvatten, and Commu—have showcased exceptional innovation of their fields. The opposite three winners, Resights (Denmark), Sunday Energy (Norway), and Treble Applied sciences (Iceland), are additionally paving the best way for the long run. I want all of them continued success and sit up for seeing their influence develop within the business.

As we have a good time the winners’ success, the Nordic area is producing many startups with the potential to remodel the constructed atmosphere globally. Whether or not you’re an investor, business chief, or entrepreneur, now could be the time to benefit from the alternatives rising from the Nordics.

The title picture with the successful Finnish groups of the Nordic PropTech Awards is courtesy of KIRAHub.