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The Nordic Ocean Economy Opportunity

Project to develop the investment thesis for the Nordic Ocean Economy

About the project

‍The Ocean defines the Nordics. It has shaped their societies, driven their economies, and connected their eight nations for centuries. Today, it still holds the region’s largest untapped value — and the next wave of economic opportunity.

Globally, the Ocean Economy is reaching a tipping point. New technologies, growing scientific understanding, and stronger market demand are opening the door to breakthroughs in how we explore, use, and protect the ocean. The Ocean covers 70% of the planet, yet over 80% remains unexplored. Its full value is only beginning to be understood.

In this context, the Nordics are uniquely positioned. They control vast ocean territories, have deep industrial know-how, and a strong record of ocean innovation. This region has the potential to become one of the world’s leading hubs for new ocean solutions — and a key destination for capital and talent. The Nordic Ocean Opportunity is a strategic investment report designed to help investors of all types understand and engage with this moment. Using the FRONTTIER investment thesis framework, it brings structure and clarity to a complex and fast-changing market — showing where the real opportunities lie and how to act on them.

This project is led by FRONTTIER and Nordic Innovation in collaboration with Danish Ocean Cluster, Port of Hirtshals, North Sea Science Park, Innovatum Science Park, and RISE.

The report is based on:

Data from 500 Nordic ocean companies
A survey of 200 people working in the ocean economy
40 investor interviews
Regional analysis across Norway, Sweden, Denmark, Finland, Iceland, Greenland, the Faroe Islands, and Åland

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About the report

Publication date: in Q2 2025

This report presents an investment-focused analysis of the Nordic Ocean Economy, developed using the FRONTTIER Investment Thesis framework. It combines ecosystem analysis, investor insights, and proprietary data on 500 Nordic ocean companies to identify where the strongest opportunities lie. The thesis is based on country-specific analyses across the Nordics, a stakeholder survey with 200 respondents, and 40 investor interviews. It highlights why now is the time to invest, where to focus, and how the region’s combined strengths create a compelling and competitive opportunity. Commissioned by Nordic Innovation and developed by a Nordic consortium, the report aims to drive more investment into ocean-based solutions by making the opportunity clear, actionable, and timely. Consider it a treasure map — not an exact blueprint, but a strategic guide to navigate and access the region’s high-value opportunities for those ready to explore them.