New Nordic Compass Initiative Brings Together Major Nordic Companies to Accelerate Growth in Technology, Energy and Defence

New Nordic Compass Initiative Brings Together Major Nordic Companies to Accelerate Growth in Technology, Energy and Defence

(IN BRIEF) SEB has joined more than 20 Nordic companies, foundations and organisations in launching Nordic Compass, a new pan-Nordic industrial alliance focused on improving the competitiveness of the Nordic region and Europe. The initiative, formally known as The Nordic Round Table for Industry, will initially focus on capital markets, deep tech, defence and energy. Nordic Compass aims to accelerate cross-border collaboration and turn Nordic strengths into practical industrial and economic projects that can scale across the region. The alliance is chaired by former Finnish Prime Minister Jyrki Katainen and vice chaired by Norwegian business leader Kristin Skogen Lund. The first major initiatives are expected to be presented at the Nordic Compass Summit in Gothenburg in November 2026. Through cooperation between private sector companies, foundations and public stakeholders, the initiative seeks to support innovation, investment and long-term economic resilience across the Nordic countries.

(PRESS RELEASE) STOCKHOLM, 12-May-2026 — /EuropaWire/ — SEB is among more than 20 Nordic companies, foundations and organisations that have come together to establish Nordic Compass, a new pan-Nordic industrial alliance focused on strengthening the long-term competitiveness of both the Nordic region and Europe. Officially launched on 12 May, the initiative aims to accelerate cross-border collaboration and transform Nordic industrial and technological strengths into concrete projects and scalable economic opportunities.

Formally known as The Nordic Round Table for Industry, Nordic Compass has been created as a collaborative platform bringing together private sector companies, foundations and public stakeholders from across Sweden, Norway, Denmark, Finland and Iceland. The alliance intends to support faster implementation of strategic initiatives in sectors considered essential for future economic resilience and growth.

The organisation will initially focus on four priority areas: capital markets, deep technology, defence and energy. Through coordinated Nordic cooperation, participating members plan to identify joint initiatives that can be developed collectively and expanded across the region to strengthen innovation capacity, industrial competitiveness and investment opportunities.

The first major outcomes and collaborative projects developed under the Nordic Compass framework are expected to be presented during the Nordic Compass Summit scheduled to take place in Gothenburg in November 2026.

The newly formed alliance will be chaired by Jyrki Katainen, while Kristin Skogen Lund will serve as Vice Chair. The board includes senior business and organisational leaders representing all Nordic countries, reflecting the initiative’s regional scope and ambition.

Speaking during the launch, Katainen said Europe is currently engaged in a broader discussion about competitiveness, industrial renewal and economic resilience. He noted that while decision-making processes at European level can often move slowly, Nordic cooperation offers an opportunity to implement practical solutions more quickly and demonstrate how regional collaboration can produce tangible results.

Kristin Skogen Lund emphasized the role of the private sector in supporting innovation, economic growth and industrial development across the Nordic countries. She said closer cooperation between Nordic markets and companies could help accelerate the commercialisation of new technologies and improve the region’s overall competitiveness in a rapidly changing global economy.

Nordic Compass brings together partners from a wide range of industries including finance, technology, energy and manufacturing. In addition to collaboration among member organisations, the alliance also plans to work alongside trade associations and other industry stakeholders in order to build on existing initiatives while avoiding duplication of efforts.

The initiative reflects growing regional interest in strengthening Nordic industrial cooperation amid increasing geopolitical uncertainty, technological competition and the wider European push for greater economic resilience and strategic autonomy. By combining expertise, capital and innovation capabilities across borders, Nordic Compass aims to create a stronger platform for long-term regional growth and international competitiveness.

SOURCE:  Skandinaviska Enskilda Banken AB