The Startup Ecosystem of Sweden

Since Stockholm is one of the global leaders in producing unicorns, the mindset of regional entrepreneurs has changed from local to global. The ambitious entrepreneurial mindset, high-speed internet connectivity, excellent knowledge of English, and public sector support make it easier for Swedish entrepreneurs to focus globally.

Support for the startup scene is reflected in the number of events, coworking spaces, and accelerators in Sweden, as well as Sweden Demo Day, which is organized by Startup Sweden and brings together startups, investors, and corporations. Moreover, Sweden’s innovation agency, Vinnova, stimulates the climate of entrepreneurship within the country.

One of the challenges standing in the way of growth is the high cost of living in Sweden, making it harder for startups to consider relocation unless they receive investment in an initial phase. The country is taking steps toward attracting and maintaining international talent to keep the Swedish startup ecosystem globally competitive. Initiatives such as the Sweden Self-Employment Residency Program enable potential entrepreneurs to start a business in Sweden while also giving them free access to higher education and a number of other benefits. Further, people who have their own businesses may apply for a residence permit.

As one of the most innovative countries in the world, Sweden remains a great location for entrepreneurs to test their ideas, scale them up, and go global.