Nordic Innovation Champions: Lessons From the Nordic Innovation Study Tour

The Conference Board of Canada, 27 pages, March 28, 2022
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This impact paper discusses how Nordic countries build world-class innovation ecosystems. It also presents lessons for Canadian organizations to improve the country’s innovation performance.

Document Highlights

Innovation is important at the firm level, as organizations that innovate successfully enhance their competitiveness and position themselves for growth. It is also important for communities, regions, and countries.

Canada exhibits relatively weak innovation performance, while Nordic countries are recognized as global innovation leaders. Denmark, Finland, Norway, and Sweden all outperform Canada on The Conference Board of Canada’s Innovation Report Card, which examines various indicators of innovation capacity, activity, and results.

Nordic Innovation Champions: Lessons From the Nordic Innovation Study Tour discusses the successes of Nordic countries, and that Canadian businesses will need to improve their ability to innovate to increase their domestic and global market shares. Small and medium-sized enterprises are a crucial piece of the puzzle, as they often drive the best innovative ideas forward and transform their local economies. Canadian governments and other stakeholders must continue to explore new and creative ways to support businesses in this quest.

Table of Contents

Key Findings
Introduction
How Canada Fares Against the Nordics
Innovation Success Is Rooted in Culture
Nordics Partner Relentlessly at Every Level
Cross-Sector Collaboration Is All-Encompassing
International Collaboration Is Second-Nature
Building Strong Innovation Ecosystems
Comprehensive Goals Help
Tackling Wicked Problems
Businesses Are Transforming in Response
COVID-19 Has Generally Been an Innovation Enabler
Lessons for Canada

Appendix A: Methodology
Appendix B: Bibliography

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No charge, funded by The Conference Board of Canada and/or the research sponsor

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