swedish startup phenomenon
TRANSCRIPT
The Swedish Startup Phenomenon
Professor Robin Teigland Stockholm School of Economics
www.slideshare.net/eteiglandwww.funnovation.se
[email protected] @RobinTeigland
May 2016
Stockholm – a unicorn breeding ground
Unicorns: Private companies valued at more than USD 1 bln
263 Swedish startups raised USD 23.7 bln2000-2014
Creandum
Stockholm #2 in Fintech after London – USD 659 mln invested in last 5 years
100 Fintech startups in Stockholm
Moving in on traditional bank territory
Inspiration from CB Insights, SEB base webpage slightly modified to make more room
Stockholm’s long path to Fintech success
Technology with a focus on the User
LinkedIn Stockholm Economic Graph 2015
Stockholm’s top industries Stockholm’s unique skills
# 1 in the world in 9 months – Amazing Brands
Strongly connected
formal networks
Klarna
11 unicorns or potential unicorns within a few minutes walk from each other
“Stockholm has accumulated a high degree of entrepreneurial experience that continues to be fed back into the ecosystem.”
- Stockholm entrepreneur “I really think that there is something special here in Stockholm that I haven’t seen anywhere in the world. I came here with no networks and less than six months later, I have an extensive network in the Stockholm startup community.”
- Hong Kong entrepreneur
Hoffice – a Swedish concept gone global
Thomas Jefferson (1816)“Laws and institutions must go hand in hand
with the progress of the human mind.”
The problem is that the human mind itself can’t keep pace with the advances that
computers are enabling.
http://wadhwa.com/2014/04/15/mit-technology-review-laws-and-ethics-cant-keep-pace-with-technology/
How do I declare the sale of my bitcoins?
Does Stockholm have it all?
World Economic Forum
Results from our preliminary study A historically conducive business climate
− Global outlook with international business skillset founded in multinational success stories
− Flat, non-bureaucratic management empowering innovation and collaboration across boundaries
− Strong engineering culture encouraging problem-solving while focusing on solving user needs over creating most advanced technical solutions
Supportive economic conditions and government policies
− Foresighted politicians and economic crisis creating enabling conditions− Substantial social safety net reducing entrepreneurial risks− Stable government and strong regulatory framework
Today’s enabling business climate− Local market of demanding users with high Internet and computer literacy throughout
society− Access to variety of financing sources and “smart money” − High level of knowledge and other resource flows enabled by a “pay-it-forward”
culture through strong informal networks both locally and internationally
To be launched before summer….
Robin [email protected]
www.slideshare.net/eteiglandwww.funnovation.se
@robin.teigland
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