Today North European countries retain the leading role in terms of a wide variety of the innovative development indexes. Swedish companies are primarily dominating in pharmaceuticals, machine engineering, telecommunications, Danish companies play the lead role in pharmaceuticals and biological technologies, Finnish companies are strong in electronics, Norwegians take the lead in weapons production, marine engineering, services. These entities are just the top of a science driven iceberg of Northern Europe, while being the backbone enterprises, having glued up together the entire chain of information, material HR flows, while enabling market operation of lesser stakeholders. The Article investigates current state and perspective development of modern hi-tech business of North European countries, accumulates interesting statistics regarding the largest North European entities operating in this sector. The Article provides detailed analysis of activities of the largest and leading companies of North European region in the territory of Russia, gives estimates and assessments of their contribution made into modernization of Russian economy.