Our impact
We support Nordic SMEs in exploring new markets, scaling sustainable innovations, and building international partnerships through targeted funding and expert guidance.
Nopef activities in 2024
54
new projects approved
€2.2m
in project financing
34
project countries
Nopef-financed feasibility studies 2021-2024
Our mission
The Nordic Project Fund (Nopef) is committed to fostering the growth of Nordic green solutions on a global scale. By providing crucial support during the early stages of international expansion, Nopef plays a pivotal role in promoting a green, competitive and socially sustainable Nordic region, which is the ambition of the Nordic Vision.
We focus on small and medium-sized enterprises (SMEs), aiming to facilitate their entry into new markets and thereby enhance innovation and mitigate risks associated with international growth.
Nopef project portfolio 2021-2024
How we finance
Through Nopef, Nordic small and medium-sized enterprises (SMEs) can apply for funding to support their internationalisation efforts outside the EU and EFTA area.
The grants cover feasibility studies and other preparatory business activities. Supported projects must demonstrate a direct or indirect positive impact on the environment or climate and contribute to Nordic interests—such as job creation, export potential, technology transfer, and the promotion of shared Nordic values.
Contributing to job creation and export of Nordic green solutions
The internationalisation of Nordic SMEs supported by Nopef drives employment both in the Nordic region and abroad. According to Nopef’s annual customer survey, which is conducted since 2014 to track project outcomes, funded companies report stronger competitiveness, improved economic performance, and increased job creation.
Based on data from 260 surveyed projects, each international business established with Nopef support has, on average, created 10 jobs globally (including two in the Nordics), attracted EUR 1.4 million in investments, and generated EUR 2 million in sales within three years of implementation.
Average impact of each Nopef project:
10 global jobs
of which two are in the Nordics
EUR 1.4 million
inproject-related investments
EUR 2.0 million
in project-related sales
Ensuring climate and environmental benefits
All approved Nopef projects undergo an environmental and sustainability assessment by Nefco’s experts. The purpose of this evaluation is to ensure that each project delivers measurable environmental or climate benefits when implemented.
The Nopef project should contribute positively to one or more of the following environmental objectives: climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and control, protection and restoration of biodiversity and ecosystems.
Projects approved in 2024 by environmental driver
Strengthening Nordic competitiveness
Nopef was established by the Nordic countries in 1982 to enhance the global competitiveness of Nordic companies. Since then, the fund has supported over 3,300 projects with more than EUR 117 million in financing, leading to the establishment of over 1,200 businesses outside the Nordic region.
Nopef collaborates with national, international, and Nordic organisations to create synergies for companies seeking funding at different stages of their international journey.