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Tech, and especially fintech, is booming in Denmark. Last fall, Copenhagen FinTech entered into partnerships with three new giant international sponsors and the first for 2019 is already in place. The development is characterised as a quantum leap for the leading fintech hub in the Nordics.
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The Denmark tech ecosystem is so promising that the government of Ontario and Denmark penned a Memorandum of Understanding (MoU) in 2018 that aims to accelerate the collaboration between the Danish and Canadian fintech ecosystems. The MoU focuses on three main emerging technologies – blockchain, artificial intelligence (AI) and cybersecurity.
Leading the charge in this pursuit was Copenhagen FinTech, which is the first and largest Nordic fintech working space and incubator. This became the starting point of a partnership with the Royal Bank of Canada (RBC), who signed on as Copenhagen FinTech's first North American Global Partner sponsor.
The Nordic region’s tech ecosystem is internationally renowned in emerging technologies like AI, blockchain, and cybersecurity – technologies that RBC believes will fundamentally impact the future of banking. We’re excited to support Copenhagen FinTech, the largest fintech accelerator in the Nordic region, and be one of the first Canadian companies to help usher in a new era of collaboration between these two ecosystems.
Alexander Peh, Vice President, Innovation, Technology & Operations
RBC
Copenhagen FinTech opened for business back in November 2016 as the first of its kind in the Nordic region. Today, more than 200 start-ups have joined in. The global acknowledgement of the Danish expertise in AI, blockchain and cybersecurity is important for Copenhagen FinTech’s future partnership opportunities.
The support of RBC is a first and very important step in bridging the Danish and Canadian ecosystems. In just a short time, the partnership with RBC has already enabled new and important relationships to be built between Danish start-ups and key players in Ontario’s fintech community.
Thomas Krogh Jensen, Chief Executive Officer
Copenhagen FinTech
RBC is not the only important partnership Copenhagen FinTech has landed. The global bank Citi, the IT-giant SAP, and most recently Japanese management consulting firm Nomura Research Institute have also noticed the booming Danish fintech scene and its many great attributes.
Royal Bank of Canada and Citi cannot get enough of digitalisation. The Nordic is leading in IT and the access to fintech-laboratories in Denmark gives them a cutting edge in the field.
Jan Damsgaard, Professor
Copenhagen Business School
Last year, the Digital Economy and Society Index once again named Denmark most digital country in Europe and Forbes expects Denmark will break records in venture capital raised. These endorsements are only testament to the fact that Denmark is one of the world’s most innovative countries, offering an exceptional ease of doing business and a vibrant start-up community.
Since partnering, we’ve seen how vibrant the Nordic region’s fintech community is. We’re excited to continue to learn from the best and brightest minds in the world with the aim of continuing to grow and support Canada’s innovation ecosystem.
Alexander Peh, Vice President, Innovation, Technology & Operations
RBC
Copenhagen FinTech is an association and co-working space for fintech entrepreneurs.
The non-profit organisation aims to combine the visionary ideas of fintech entrepreneurs, the experience of a well-established financial sector, the desire for societal benefits of the public sector and the research from the universities. The overarching purpose is to build a thriving fintech ecosystem for the benefit of all stakeholders.
If you would like to learn more about doing business in Denmark, please contact one of our experts. We have specialised staff across the globe with industry insights and well-connected networks, ready to advise you on every aspect of investing in Denmark:
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