Sweden has a long history of investing going back to the Wallenberg and Stenbeck families, who together still control much of the country’s stock market. Whereas the EU average employment rate is 67% for women and 78 for men.Įntrepreneurial roots, giving back and foreign investments Among EU member states, Sweden has even the the highest employment rate for women, with 80% of women and 84% of men working. This results in a highly equal society in which both men and women are working full-time. Day care costs are subsidized by the government, making it extremely affordable. In addition, Sweden has one of the highest female and maternal employment rates in Europe. Moreover, work-life balance is integrated into the culture, with the tradition of all Swedes taking a multi-week vacation over the summer. Due to their solid social security system entrepreneurs dare to be creative and take risks. This highly educated population combined with their early adaptation to digital systems results in a large pool of tech-savvy talent from which Swedish companies can fish.Īdditionally Sweden is a country with high social and political stability.
Sweden skype klarna free#
Wharton’s management professor Hernandez points out that due to Sweden’s free education system the Swedish population is highly educated. This kind of government planning has created a whole generation of highly educated digital natives who have grown up with a familiarity with computers and broadband, which still benefits Swedish businesses today.Īnother reason for Sweden’s thriving scale-up ecosystem is that its built on the strengths that Sweden has to offer.
Sweden skype klarna Pc#
This policy decision led to a huge influx of PCs in homes, resulting in really high PC penetration. Over 91% of the population accesses the Internet at least once a week.Īdditionally, back in the 1990s, the Swedish government even offered a tax break for residents to buy personal computers. This investment is one of the reasons that more than 94% of the population is online with the fourth highest usage in the world. Already in 1994 Stockholm built the world’s largest open-fiber network with 100% of businesses and 90% of homes tapping into that infrastructure today. One of the large infrastructure projects in which the Swedes invested early was a large open-fiber network. Even though we hail the young start-ups, they usually feed on the presence of large and established organizations that provide the technology and human talent required for the next big thing.” In an article of Wharton Business School Wharton management professor Exequiel Hernandez explains “Start-up and tech hubs don’t emerge in a vacuum. When these Swedish multinationals became successful in the past, they contributed a lot of tax money to finance infrastructure and entrepreneurship ventures. Typically a Swedish company starts expanding globally within a couple of years after its start. Since Sweden is a fairly small country, internationalization of companies has always been a common thing. Companies like Volvo, Ikea, H&M, SAAB and Ericsson have paved the way for global success. International mindset and early digital infrastructureįor a Scandinavian country with a population of less than 10 million, Swedish businesses have always had to think outside the country’s borders.
In this article we aim to explain why Sweden was able to create this unique thriving ecosystem, how Stockholm became the unicorn-factory it is today and what we can learn from the Swedes. It’s like there’s an ecosystem of funding and expertise.” Oscar Berglund, Source: Bloomberg “There is some kind of climate here where Swedes are quick to test new services and products. Its CEO, Oscar Berglund said in an interview that it’s no coincidence so many are emerging on his home turf. One of the most recent examples of why Stockholm is called the ‘unicorn-factory’, is payments firm Trustly Group AB which saw its valuation soar into unicorn territory only several months ago. In the latest European Innovation Scoreboard of the European Commission the Stockholm region tops as the most innovative region within the European Union.
The large amount of Swedish scale-ups that turn into billion-dollar companies is one of the reasons why Sweden is ranked as the leader of the European Union when it comes to innovation performance for several years in a row.
Skype, King, Mojang, Klarna, Spotify and iZettle are all unicorns founded in Stockholm. Stockholm produces more billion-dollar companies per capita than any other region in the world after Silicon Valley.
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