Swedish Tech Giant Norrsken Chooses Amsterdam for Massive European Startup Hub

2025-12-15 community

Amsterdam, Monday, 15 December 2025.
Norrsken, founded by Klarna co-founder Niklas Adalberth, will transform Amsterdam’s historic Van Gendt Hallen into Europe’s largest impact-focused startup hub by 2026. The facility will house over 1,000 entrepreneurs working on solutions for global challenges, backed by multi-million euro municipal subsidies and Dutch tech investors. This ambitious project comes as Dutch startup investment has hit five-year lows, with many entrepreneurs considering relocation abroad due to unfavorable conditions.

Historic Factory Gets New Life as Innovation Hub

The Van Gendt Hallen, a historic steam train factory dating back to the 17th century, will be transformed into a sprawling 3,600 square meter facility across three floors [1][2]. Located on Oostenburg in Amsterdam-Centrum, the former Stork Werkspoor engine factory will accommodate approximately 1,000 startup employees along with meeting spaces and catering facilities [3]. The building’s industrial heritage makes it a symbolic location for what Norrsken calls the reinvention of capitalism for the 21st century [4]. Sara Kappelmark, co-CEO of the Norrsken Foundation, emphasized the strategic importance of visibility, stating “We wanted a location that is easily accessible, but above all highly visible, a beacon in the city, so that tech companies are not hidden away” [5].

Multi-Million Euro Investment from Public and Private Sources

The Amsterdam project benefits from substantial financial backing through a combination of municipal subsidies and private Dutch investment [3]. The Amsterdam city council allocated €5 million during summer 2025 for tech sector investments, with a portion now directed toward Norrsken, though the exact amount remains undisclosed [3]. Dutch investors co-financing the project include a notable roster of entrepreneurs: Eduard Zanen, founder of Bugaboo and owner of the Van Gendt Hallen; Heleen Dura-van Oord from Peak Capital; Jolanda Degen, co-founder of Funda; along with organizations including De Hoge Dennen, Tanka Foundation, and De Wereld van Vermaat [1][6]. Economic affairs chief Sofyan Mbarki defended the municipal investment approach, explaining “If we want meaningful economic activity to come our way, it’s important that we invest as a local authority as well. Other parties may do so primarily for financial return, but our return is that the city becomes a better place” [3].

Norrsken’s Global Expansion Strategy

Founded in 2016 by Klarna co-founder Niklas Adalberth, Norrsken operates as a non-profit ecosystem supporting entrepreneurs building solutions to global challenges [3][7]. The organization currently manages award-winning hubs in Stockholm, Barcelona, Kigali in Rwanda, and Brussels, with Amsterdam set to become its largest European location [3][7]. Beyond the physical hubs, Norrsken oversees five for-profit venture funds with nearly €1 billion in investment capital under management [3][5]. The ecosystem connects over 50,000 founders, funders, and supporters globally, with €300 million specifically allocated for AI startup investments in summer 2025 [5][7]. Notable alumni companies include transport unicorn Einride, AI platform Biorce, and energy company Flower, while Dutch investments include New Dawn Bio and Karman+ [6][8].

Opening Against Backdrop of Dutch Startup Investment Decline

The Norrsken announcement comes at a challenging time for the Dutch startup ecosystem, with investment levels reaching five-year lows according to the Dutch Startup Association (DSA) [3][5]. In the first three quarters of 2025, Dutch startups received €1.7 billion in investment, representing a decline from nearly €2 billion during the same period in 2024 - a decrease of -15 percent [3][5]. The investment climate has become so challenging that one-third of tech entrepreneurs are considering relocating abroad, citing more favorable tech climates, tax regimes, attitudes toward skilled migrants, and better access to capital elsewhere [3][5]. The timing of Norrsken’s commitment to Amsterdam, scheduled to open in 2026, signals confidence in the Dutch market despite these headwinds and may provide a crucial boost to the local startup ecosystem [1][4][6].

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