This report is a comparative study of the Nordic innovation systems as they pertain to the business sector. Important national varieties in styles and modes of innovation are described and analysed. These differences are then related to different geographical, historical and political preconditions to deepen the understanding of why national innovation systems differ. The project takes as a point of departure that the identification of best case policies cannot be done simply by comparing numbers in terms of indicators of innovation. An understanding of indicators depends on an analysis of the processes of innovation, which has produced them. Processes are determined by systems. The report accordingly studies regional innovation systems (RIS) within their national system contexts (NIS). Through the analysis of the NIS and RIS statistics, certain patterns tends to emerge, which makes it possible to improve the analytical understanding on the importance of national systems. Outcomes of the project has been used in several Nordic and international conferences and presentations. It hasbeen used as an analytical basis of the White Book on Innovation commissioned by the Nordic Council of Ministers. The report will be relevant to anyone occupied with innovation and business policies.