One of the main outputs will be a periodic analytical report “Business Index North”. The report shall contribute to understanding what the Arctic is and what its regions represent both in themselves and compared with others. Businesses should be able to use it to get better knowledge about economic developments, investment opportunities and challenges in the Arctic. Local, regional, national authorities would be able to easier identify problems and regional development opportunities, actions to be taken, plans for the future to be made. For media stakeholders, the report will make it easier to describe the development in a reliable way. The project period is November 2015 – December 2018. It is developed through strategic partnership between academic and research institutions, authorities and commercial partners from Norway, Russia, Sweden, Finland. The first versions of BIN will cover developments in the northern parts of the participating countries. Later on, the ambition is to involve partners from other countries around the polar circle: US, Canada, Denmark (Greenland), Iceland to completely cover the Northern part of the globe. Main implementing partner, responsible for administration of basic funds of the project, is High North Center at Nord University Business School.
About the project
The idea behind BIN project is to contribute to sustainable development and value creation through increased global awareness of business opportunities in the Arctic. The overall goal is to set up a recurring, knowledge based, systematic information tool for stakeholders. This tool is to be widely used and referenced by businesses, academics, governments and regional authorities, as well as media in the Arctic states.