Nordics & Baltics Set The Trend For AI, Chatbots and VR

One out of four startups in the Nordics and Baltics focus on AI, with close to 60% coming out of Helsinki. 

In an annual pitching competition organized by Finnish Business Angels Network (FIBAN), Microsoft and Nordics largest media company Arcticstartup, 30 startup companies were selected, which best represent the trends for the startup industry.

The biggest group of selected startups focus on developing AI applications, including chatbots and virtual assistants. The TOP 30 list contains 7 AI-related startups, with hardware, VR/AR and education having four startups each. Other fields for 2017 include media, mobility, social, accounting, sales, HR and more. The full list of companies can be found here.

AI is transforming every industry, from mobility and cybersecurity to customer support and HR. Global front-runners like Apple, Amazon and Google are snapping up artificial intelligence startups making it over 1B exit industry. Nordic region follows the global trend, generating more industry specific AI startups, that enable automation of day-today work processes.  

This pitching competition is not just about the startups, but also showcasing where the Nordic region is heading. Each year we use the Arctic15 competition to forecast the trends. From gaming a few years back, to food in 2016, to AI and chatbots this year. We also believe that Nordics and Baltics will lead the change in what startups will focus on.” comments Dmitri Sarle, the CEO of ArcticStartup and Arctic15.

The winner of the Microsoft Pitching Competition will receive a 50 000 EUR investment from a FIBAN angel investor syndicate.

Arctic15 - annual startup affair organised by the media company ArcticStartup with support of Bird & Bird, European Investment Fund, OP, Otava, Tekes, and Tesi. The 3-day event is held in Helsinki, Finland on May 3-5. This year’s conference will focus on edtech, fintech, foodtech, health, data and AI, wearables, IoT and VR/AR. Arctic15 will be held at the Cable Factory in Helsinki on May 3–5. Arctic15 attracts 1500+ attendees, 450+ startups, 300+ investors, 150+ corporates from 60+ countries and specialized in organizing one-to-one meetings.

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FiBAN is a Finnish, national, non-profit association of private investors that aims to improve the possibilities for private persons to invest in unlisted potential growth companies. The association’s work is based on the activity by private investors and cooperates with networks supporting high-growth goals.