Sweden
Stockholm #10
Stockholm has a mature value driven and true international startup ecosystem built on Swedish innovation excellence, equality values and pay-it-forward culture.
Ecosystem by the Numbers
EARLY-STAGE FUNDING
$944 m
GLOBAL AVG.
$687 m
ECOSYSTEM VALUE
$44 b
GLOBAL AVG.
$28.6 bn
Cleantech
In 2017, Sweden ranked #third in UNIDO’s Global Cleantech Innovation Index based on strong scores for innovation inputs and outputs. As part of the Clinton Climate Initiative, Stockholm Royal Seaport will be developed as the first city district in the world with full-scale smart grids. VOI Technology, an e-scooter startup, raised a $30 million Series A round March 2019 followed by a $85 million Series B round in November 2019.
Life Sciences
Stockholm is home to Karolinska Institutet, which awards the Nobel Prize in Physiology/Medicine and is ranked #10 worldwide in Life Sciences and Medicine by QS World University Rankings. In 2016, Cormorant Pharmaceuticals, a developer of cancer and rare-disease therapies, was acquired by Bristol Myers Squibb for $520 million. In 2018, ITBMed, a drug discovery company, raised $67 million in early stage funding.
Reasons to Move Your Startup to Stockholm
Access to talent
In Stockholm, almost one-fifth of the entire workforce works in tech, the highest share of any other city in Europe. Companies also have access to top talent from some of Europe's top ranking universities, such as the Stockholm School of Economics, Karolinska Institutet and Royal Institute of Technology (KTH).
COVID-19 Policy
Swedish Government announced a short-term work allowance program under which employers can reduce their employees’ working hours and receive financial support of upto 53% of employees salaries from the state. Maximum compensation is capped at SEK 44,000 per month per employee.
Selected Startup Organizations
Epicenter
Impacthub
Northzone
SUP46
Venturecup
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