Mapping the New Nordic Region's Start-Up Enterprises from the Perspective of Leadership Characteristics, Mindset, and Skills: The Relevance of Soft Skills in Shaping Entrepreneurial Ecosystems

Ermezei, Lili (2024) Mapping the New Nordic Region's Start-Up Enterprises from the Perspective of Leadership Characteristics, Mindset, and Skills: The Relevance of Soft Skills in Shaping Entrepreneurial Ecosystems. In: P/References of Design. Cumulus conference proceedings series, 1 . Cumulus Association, Moholy-Nagy University of Art and Design Budapest, Budapest, pp. 2315-2323. ISBN 978-952-7549-02-5

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Abstract

This short paper expands the discussion on what cultivates a successful entrepreneurial ecosystem, outlining the importance of personal competencies such as soft skills and leadership dynamics. The increased appearance of high-value start-ups in the Nordic region demonstrates the impact of these ecosystems. The author argues that cultivating personal skills and leadership qualities is as pivotal to their success as the economic frameworks within which start-ups operate. Adding these competencies to well grounded ecosystems may determine startups' sustainable, future-oriented success stories. The paper aims to provide an overview of a research study on the role of leadership in high-growth start-up success, with a specific focus on 'unicorn' companies in the 'New Nordic' region (Denmark, Finland, Iceland, Norway, Sweden, and Estonia). Leadership in start-ups is identified as a crucial factor for performance. Yet, there is a lack of focused research on leadership within rapidly scaling ventures, such as unicorns privately held start-ups valued at over one billion dollars. The paper will bridge this gap by examining entrepreneurial leadership, which merges leadership and entrepreneurship research. The study will explore the unique leadership attributes, psychological flexibility, identity, and resilience that predict entrepreneurial satisfaction and contribute to the success of unicorn start-ups. The research emphasizes that existing studies on entrepreneurial ecosystems do not fully capture the transition from start-up to unicorn status, especially outside of Silicon Valley. This analysis calls for a more detailed understanding of the Nordic ecosystem's components and how they contribute to unicorn success compared to other regions, highlighting the impressive per capita rate of New Nordic unicorns.

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