The Nordic Innovation House has revealed plans to open in Hong Kong, bridging Nordic innovation and technology strartups from four countries to the Greater Bay Area.
The new facility will feature innovations from companies in Sweden, Denmark, Finland and Iceland, It will seek to highlight Nordic countries' innovations in the life science, clean technology, educational technology and smart city arenas.
The founders intend to bring these innovations to Hong Kong to support the city's strategy of transforming into a world-class innovation hub and smart city.
The facility will also aim to inspire Nordic startups to use the Chinese market as their prototype test market for demand in Asia, leveraging resources from Hong Kong and the Greater Bay Area.
Nordic countries have a history of punching above their weight in terms of innovation and technology considering their sparse combined population of only 27 million people.
Nordic unicorns include Stockholm's Skype, Spotify, Candy Crush developer King, Minecraft developer Minecraft, Angry Birds developer Rovio and payments service provider Klarna.
Sweden and Finaland are two of Europe's top spenders in innovation, with Sweden investing 3.3% of its GDP in R&D last year, which compares to a European Union-wide target of 3% of GDP investment by 2020.
This marks the fourth Nordic Innovation House to open worldwide, after facilities in Silicon Valley, New York and Singapore.