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Move over Berlin, Here Comes Helsinki for Tech Startups

by

November 28, 2013

Two years ago your DealMarket editor wrote a feature article for Informila about the hot tech startup scene in Berlin. Now the excitement is moving to Helsinki and Sweden. The recent Slush 2013 venture conference attracted more than 1,000 companies, and 5,000 people, including Rich Wong of Accel Partners, John Lindfors of Digital Sky Technologies, and Francesco de Rubertis of Index Ventures. Forbes writes about the venture capital flowing to the Nordic city, the recent exits, and the tech companies to watch for.

Two of the best known startups in the current Finnish scene are Supercell and Rovio. Both are gaming startups with Supercell making over USD 2.4 Million a day and Rovio claiming over EUR 152.2 million in sales, according to Arctic Startups.

All this is happening amidst a backdrop of solid investment activity in European VC European market, with the most recent being a huge expansion round for streaming music startup Spotify. It raised a quarter of a billion dollars on a circa USD 4 billion valuation, according to WSJ.

The analysts at Go4Venture say that VC investment in Europe is up by 40% this year. The money is targeting Internet investments, representing one-third the number of transactions, and 60% including if SaaS related businesses are included. (Image Source: Go4Venture)

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