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Companies don't grow alone
"We don't lack good ideas, but we need to get better at making them grow.”
It's a message that Henrik Lundum, CEO of NOVI Science Park, returns to again and again.
For more than 35 years, NOVI has worked to strengthen entrepreneurs and companies through networks, investments and access to knowledge. All with the aim of creating more jobs, attracting talent and contributing to strong business development in North Jutland.
Experience has convinced Henrik of one thing: The best companies rarely grow alone.
“We have lots of talent and good ideas in North Jutland. That's not where the challenge lies. The challenge is to ensure that the good ideas also have the opportunity to grow.”
Growth is about more than scaling
When entrepreneurship is on the agenda, the conversation often revolves around unicorns, billion-dollar companies and explosive growth. But according to Henrik Lundum, that's not necessarily always where we should focus our attention.
“We tend to celebrate the spectacular success stories. But the companies that create jobs, innovation and value year after year are often the ones we hear about the least.”
He compares it to the music industry.
“We celebrate one-hit wonders, but sometimes forget about the artists who deliver strong albums throughout their entire careers. It's the same with companies. The real heroes are often those who quietly build something sustainable.”
For Henrik, growth is therefore not a goal in itself.
“The trick is finding the right level for the individual company. It's not about becoming the biggest, but about creating a healthy company that solves a real problem and creates value over time.”
At the same time, he experiences that a new generation of entrepreneurs is driven by different ambitions than before.
“Many young people want, first and foremost, to make a difference and solve some of the societal challenges we face. For them, it’s not necessarily about chasing the dream of becoming rich and famous.”
Entrepreneurship requires courage
Henrik Lundum has closely followed hundreds of entrepreneurs over the years. Although their growth journeys may be different, there are still some commonalities that recur.
“The companies that succeed solve a problem that is relevant to many, not just a few. At the same time, they often consist of strong teams with enormous tenacity and drive.”
One piece of advice applies to most entrepreneurs.
"They have to go out quickly to meet their customers. The product doesn't pass the exam in the office, but at the customer's. That's why you have to dare to test your ideas, listen and develop along the way."
He also emphasizes that entrepreneurship requires courage.
"You have to dare to believe in your idea and hold on to your dream, even when the environment points to the more secure 8-16 job."
A hole in the ecosystem
For many years, the state innovation environments invested venture capital in entrepreneurs – precisely in the early phase, when the risk was greatest. Through the innovation environment scheme, NOVI was behind 155 investments in new entrepreneurial companies, many of which developed into strong growth companies.
“When the innovation environments were closed down, a gap was created. We have plenty of capital, but the challenge is that it often only comes after the companies have already proven their worth. The biggest risk lies in the beginning, and that is where we lack the investments.” says Henrik.
He points to GomSpace as an example of a company that received crucial support in the early phase and later became an international success.
But capital is far from the only challenge.
“Capital is important, but access to experience, sparring and the right skills can be at least as crucial.”
That is precisely why NOVI is working together with BusinessAalborg on an idea for a North Jutland entrepreneurial alliance, where established companies provide advice, coaching and sparring to new entrepreneurs.
"We believe that businesses help businesses. North Jutland is characterized by a strong culture of cooperation, and we must utilize this even better."
More than square meters
“The buildings are just the framework. Our task is to bring together companies, research, investors and talent – because it is in the meeting between people and skills that ambitions become strong companies.”
This idea lies behind the continued development of NOVI Science Park and the establishment of NOVI MEDI PARK, which will bring together companies within health and life science.
At the same time, NOVI is working on establishing a new fund that will strengthen access to venture capital for the companies of the future.
"We have a clear ambition to continue developing NOVI. Towards 2030, we want to create the framework for around 400 companies spread over 130.000 square meters. But the most important thing is not the number of square meters. It is the relationships and collaborations that arise when people meet."
It's the people who make the difference
Even though Henrik has worked with innovation and entrepreneurship for many years, the motivation is still the same.
“The most energizing thing is seeing a young company succeed and knowing that NOVI has had a small part in that story. That's what drives me.”
He hopes that in five or ten years, companies will still see NOVI as more than just a place to have an address.
“I hope they experience NOVI as a place that made a difference and helped move them forward.”
"When companies succeed, they create jobs, innovation and new value. If we can help create more of those companies, we are also helping to develop North Jutland. That is really what NOVI is all about."
