Building Attractive Places for Growth: What Can Municipalities Learn from Life Science?

Bringing together perspectives from industry, investors, regional development organisations and cluster networks, the discussion explored how municipalities and regions can contribute to attracting investment and supporting business growth. Participants included Pontus Holm (Region Stockholm), Tanja Aarvak (ARTBIO), Tove Ofstad (Roche Diagnostics), Delphine Costa (The Life Science Cluster), Erling Nordbø (Aleap Ventures) and Jakob Retvedt Bakkerud (Invest in Ringerike), and Rasmus Malmborg from Invest In Norway moderated the panel.

While the discussion focused on life sciences, the lessons are relevant for any region seeking to attract innovative companies, investment and talent.

Ecosystems Matter More Than Individual Actors

One of the clearest messages from the event was that successful business environments are not built by companies alone.

Drawing on the Stockholm region’s experience, Pontus Holm described how more than sixteen organisations have committed to a shared vision for building one of Europe’s leading life science regions. Rather than competing for attention and investment, actors across healthcare, academia, business and public administration work together around a common narrative, coordinated action plans and shared priorities.

The goal is not simply to attract companies. It is to create an environment where companies can start, grow and stay.

According to Holm, collaboration is the single most important success factor. Strong ecosystems rarely emerge through top-down initiatives alone. They require coordination, trust and dedicated resources that help different actors move in the same direction.

 

Growth Companies Need More Than Funding

For companies entering a growth phase, access to capital is important, but it is far from the only requirement.

From the perspective of ARTBIO, municipalities can play a much more active role in supporting ambitious companies. As Tanja Aarvak highlighted, growth companies need suitable locations, access to talent and stronger connections with investors and ecosystem partners.

Just as importantly, they need places where collaboration happens naturally.

Companies often choose locations not only because of available infrastructure, but because they see a strong ecosystem around them. Municipalities therefore have an opportunity to help create the relationships, meeting places and networks that strengthen local business environments and make regions more attractive for future investment.

Companies Want Partnership, Not Procurement

A particularly relevant message for municipalities came from Tove Ofstad of Roche Diagnostics.

Her message was straightforward: companies want dialogue.

Rather than engaging with businesses only through procurement processes, municipalities should involve companies earlier through structured market dialogue. Businesses often have valuable insights into challenges, needs and potential solutions. When municipalities engage partners before defining requirements and launching tenders, they are more likely to find innovative and effective solutions.

Companies are not only suppliers. They can be partners in solving societal challenges.

This requires more arenas where businesses and municipalities can meet, exchange perspectives and build understanding before concrete procurement processes begin.

Readiness Is a Competitive Advantage

Another recurring theme was preparedness.

Regions that succeed in attracting investment are often those that have already done their homework. They have identified development areas, built partnerships, prepared sites and established clear channels of communication.

As both Pontus Holm and Jakob Retvedt Bakkerud emphasised, investment opportunities often emerge quickly. If regions are not prepared when opportunities arise, they risk losing projects to competing locations.

Being attractive is therefore not only about what a region has today. It is about how ready it is for tomorrow.

The Importance of Place

One lesson from Stockholm’s experience stood out in particular: physical environments matter.

In his presentation, Pontus Holm highlighted the importance of attractive locations, strong infrastructure and environments that encourage interaction between researchers, entrepreneurs, investors and public-sector actors. He also stressed the value of presenting a region’s strengths through a clear and compelling shared narrative.

Companies and talent increasingly choose between regions, not individual municipalities. The regions that succeed are often those that can clearly communicate what they offer and demonstrate how different actors work together.

From Municipalities to Regional Partnerships

The discussion ultimately pointed towards a broader shift in thinking.

The question is no longer whether municipalities matter. It is how municipalities can work alongside companies, investors, research institutions and cluster organisations to create environments where innovation can thrive.

The lessons from Stockholm, combined with the perspectives from business and investors, suggest that the most competitive regions are those that create strong partnerships, facilitate dialogue and actively build ecosystems around their growth industries.

• For regions hoping to attract future investment, innovation alone is not enough.
• Companies need talent, infrastructure, networks, partners and places where they can grow.
• Creating those conditions is a shared responsibility. And municipalities have an important role to play.

 

Thank you to Erlend Ragnhildtveit and Delphine Costa from the Life Science Cluster, and Mari Strømsvåg from the Oslo Region Alliance to plan and execute this event.