In August 2020, HolonIQ announced the Nordic-Baltic EdTech 50 — a list of the 50 most promising EdTech startups headquartered in the Nordic-Baltic region. As we open applications for our annual Nordic-Baltic EdTech 50, we take a look at where the 2020 cohort are now.
The regional collaboration format of the Nordic-Baltic eight (NB8) brings together five Nordic and three Baltic countries – Finland, Sweden, Norway, Iceland, Denmark, Estonia, Latvia and Lithuania. This well-established regional ecosystem also supports cooperation for EdTech in addition to strong national bodies. The region is globally recognised for leading in pedagogy, innovation and education systems and the 2020 Nordic-Baltic EdTech 50 recognises and celebrates those teams based in the region who are supporting education innovation and impact.
The Annual Nordic & Baltic EdTech 50 is focused on identifying young, fast growing and innovative learning and up-skilling start-ups based in Finland, Sweden, Norway, Iceland, Denmark, Estonia, Latvia and Lithuania,. To be eligible, startups are generally less than 10 years old (though there are some exceptions), are either headquartered in Nordic-Baltic countries, or predominately focused on the market (e.g. > 80% revenue/customers, are pre exit (not acquired or listed) and not a subsidiary of a larger company or controlled by an investor group (e.g. via private equity buyout or controlling investment).
Governments, institutions, investors, schools and educators, influencers and talent leaders from across the region and around the world look to HolonIQ’s Nordic-Baltic EdTech 50 to better understand the dynamics of innovation in the market and the teams who are making a difference in education outcomes.
HolonIQ's Scoring Fingerprint
Powered by data and insights from the HolonIQ Global Intelligence Platform and local market experts, EdTech companies in the region are assessed using our proprietary scoring engine and following HolonIQ’s startup scoring rubric. Our normalization algorithm ensures that individual scoring bias is eliminated to create an equitable baseline and allows experts to review their own ‘scoring fingerprint’ relative to other experts. HolonIQ’s startup scoring rubric covers the following dimensions:
Market. The quality and relative attractiveness of the specific market in which the company competes.
Product. The quality and uniqueness of the product itself.
Team. The expertise and diversity of the team.
Capital. The financial health of the company and in particular its ability to generate or secure sufficient funding.
Momentum. Positive changes in the size and velocity of the company over time.