Economic development, innovation and entrepreneurship in the Arctic

Organized by: Nordic Council of Ministers (NCM) and Arctic Economic Council (AEC) 7. September 2017

The Nordic Council of Ministers (NCM) and the Arctic Economic Council (AEC) are conducting an “Arctic Business Analysis” to qualifyknowledge on the business environment needed in the Arctic to take it one step further, including identifying how the Nordic countries can support economic development in the Arctic in a pragmatic and result orientated way.

Friday, October 13, 16:25 - 17:55

Location: Kaldalón, Ground Level

The analysis will focus on business development cases to be scaled to other themes and geographical areas and aims at representing important practical lessons learned for other companies.

NCM and AEC wish to present and test preliminary findings of the analysis. The ambition is to discuss conditions for business in the Arctic with a range of stakeholders in the field of business development and investments. By having an open and interactive breakout session the objective is to solicit feedback on the findings of the “Arctic Business Analysis” and generate discussions on identifying best practices and solutions on Nordic Arctic business development, innovation and entrepreneurship that could also be applicable on a pan-Arctic level.


  • Nauja Bianco, Nordic Council of Ministers: Welcome and introduction – “The change agents of tomorrow – Promoting a pan-Arctic business community through Nordic facilitation”
  • Jakob Wichmann, CEO and Co-founder, Voluntas Advisory: Presentation of preliminary findings of the Arctic Business Analysis
  • Mikhail Pogodaev, Chair, Association of World Reindeer Herders, Director of The Northern Forum: Indigenous people’s perspective on business development in the Arctic

Case discussions:

  • Robert Gudfinnsson, CEO of Genis, entrepreneur and investor (Iceland): How to drive innovation and entrepreneurship in the Arctic region
  • Stephen Hart, Head of Office, European Investment Bank: Financing business development and investments in the Nordic Arctic – opportunities and demand
  • Thomas Westergaard, Senior Vice President, Hurtigruten: Tourism as an enabler of business development in the Arctic
  • Liv La Cour Belling, Project Coordinator, Secretariat for the Nordic Council of Ministers for Fisheries and Aquaculture, Agriculture, Food and Forestry: Arctic’s bio-economy as a stepping stone for growth in the Arctic
  • Tero Vauraste, Chair of the Arctic Economic Council, President and CEO of Arctia Ltd: How to move the business development agenda in the Arctic forward


Voluntas Advisory and Confederation of Danish Industry