Arctic Innovation Week 2024 addresses future challenges from northern Norway

Arctic Innovation Week, an annual celebration of entrepreneurship and innovation in northern Norway, kicked off on October 14, with 66 events spread across 22 locations. The event, which is part of Innovation Norway, highlights the potential for innovation in the region, brings together stakeholders from various industries, including defense, tourism, aerospace, energy, and fisheries.

Daniel Skjelde, the event manager, explained that the goal is to address some of the unique challenges faced by northern Norway’s innovation landscape.

“The benefit [to hosting events like these] is to address some challenges… including shortage of skilled labor and limited access to capital,” Skjelde said.

He claims that Arctic Innovation Week aims to make the region’s innovative offerings more visible, creating an environment where stakeholders can “exchange knowledge, collaborate, and inspire each other.”

The event serves as a vital platform for entrepreneurs to showcase their ideas to international investors, especially given the region’s isolation. Skjelde hopes that the event will help draw capital into the region by showcasing its dynamic innovative flair.

“We hope that by having this week, we can create arenas around northern Norway that make it easier for investors to see what’s growing up in the north,” Skjelde said.

Key events include a speech from Finnish expert Samna Saruman, focusing on how Norway must adapt to a future without oil, as well as pitch competitions where startup companies can present their innovations. Skjelde believes the week will play a critical role in shifting Norway’s economic focus.

“The big issue in Norway is that we are now getting rid of oil, and we have to find other sources of income,” he says.

Despite the unique challenges faced by entrepreneurs working in the Arctic, Skjelde is optimistic about the region’s potential, as people who are used to be at the mercy of the elements have a unique approach to getting things done.

“We are fewer people, fewer companies, but we work a little bit harder. We’re able to turn around faster,” he said.

Arctic Innovation Week continues to grow in scope, and Skjelde envisions a future where the event could expand beyond Norway’s borders, bringing together innovators from across the Arctic region.

“We don’t have to see this stop at national borders. Maybe we can make this a bigger event in the future with more events across the borders in the Arctic,” he said.