Technology foresight (TF) is increasingly used by governments, funding agencies, R&D institutions and private companies as a tool for strategy development, prioritisation of R&D funds, and learning. Although the Nordic Council of Ministers aims at"developing Nordic region in next 10 years as the most attractive region in terms of education, research and industry", there seem to be no effective mechanisms capable of embracing the various activities and initiatives at Nordic level. The reportanalyses the potentials of TF in building a Nordic knowledge region. On-going TF activities in the Nordic countries are described as well as the prospects for Nordic TFs. The potentials of a Nordic TF are closely connected with spatial proximity andshared values, as well as with a willingness to exchange experience and to learn from each other. On the other hand, some doubtful concerns stem from the economic and social differences among the Nordic countries. Nordic foresight cooperation may alsoremain as a distant academic exercise if proper links to political and economic decisions cannot be made and maintained. A technology foresight exercise might serve different institutions of the innovation system and the society at large at the sametime. The report recommends: 1. The establishment of a Nordic forum for technology foresight practitioners and researchers. 2. The creation of a common follow-up system for relevant international technology foresight exercises. 3. The realisation oftechnology foresight exercises that involve participants from various Nordic countries (e.g. focusing on specific technologies or problem areas or in selected cross-border regions).