Finland has same population as Norway, has way less money, but has 3x the scaleups. Even bigger difference with vs Netherlands.

Even Norway themselves admit they're the underperformers of the Nordics. https://skywlkr.no/wp-content/uploads/2019/10/TechScaleupNor...

So blaming population is a cheap excuse that doesn't hold water. Especially that you can always import the skilled people you lack, when you have virtually unlimited money and some of the highest standards of living in the world.