"I am truly impressed by the level of skill and execution among up-and-coming entrepreneurs in Sweden. There is no doubt that entrepreneurs will find solutions to address the most pressing challenges of our time and I'm sure that Stockholm will be a key factor in us succeeding."
The success of Swedish startups such as Spotify and Skype has made Stockholm a globally renowned startup hub and attracted the attention of international investors. Klarna has raised $3.7 billion in funding over 33 rounds, including a secondary market round in December 2021. Open banking platform Tink was acquired by Visa for €1.8 billion ($1.96 billion) in January 2021. Cloud communications company Sinch raised $1.1 billion in May 2021.
Stockholm produces the most unicorns per capita after Silicon Valley and is home to more than 1,000 diverse startups with an average valuation of $3.6 million. Government and startup support organizations are not resting on their laurels, however, and continue to nurture the ecosystem with a range of initiatives.
In September 2021, UNICEF established a global center for innovation in Stockholm. The Stockholm Innovation Scholarship is awarded to five innovators in different categories: simplify everyday life, creative industries, life sciences and health, travel and tourism, and social impact and sustainability. Vinnova is the Swedish Government's innovation agency and expert authority in innovation policy. The Knowledge Foundation (KK-stiftelsen) funds research and competence development at Sweden’s colleges and universities. Sthlm Fintech Week is an annual event for the Swedish Fintech ecosystem. Kista Science City is the leading ICT cluster in Europe, hosting companies including Ericsson and IBM, as well as a range of startups and universities. Kista is also home to the Urban ICT Arena, where smart technology is created, tested, and displayed in a real urban environment.
Ecosystem by the Numbers
Reasons to Move Your Startup to Stockholm
Selected Startup Organizations
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