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Why the Stockholm start-up tech scene is a huge success

The tech scene in Stockholm is booming, so much so that it has become the second most prolific tech hub in the entire world. Per capita, no other city has more billion dollar tech companies apart from San Francisco. With huge levels of energy shown over the past few years, the capital of Sweden is now home to in excess of 20,000 start-ups.

Back in 2016, over €1.5 billion was raised by tech companies in Sweden, that marks a huge fifty percent increase from the 2015 figure. The increasing level of investment has also seen support grow in the community, with more and more start-up hubs, investors and events, making the scene in Stockholm more connected. The growing scene has largely been helped by the fact that there are a number of successful companies that were born in Stockholm who are acting as role models.

For Stockholm, those companies are Klarna, Spotify, Skype and plenty more. Having companies that have gone on to become household names around the planet within your community can only help and encourage exceptional talent, and it also acts as a way of attracting some of the most promising talent from around the world to come and work in Stockholm.

Culture, society and values

The local culture in Stockholm is also one of encouragement and a great place for start-ups to feel as if they have potential to grow. Sweden has a mostly informal society, where teamwork comes to employees naturally. Sweden also has an admirable safety and social welfare system, which allows entrepreneurs to take slightly bigger risks without worrying about losing everything. The high level of well-educated workers, along with the fact that pretty much everybody in Sweden speaks English fluently, has also contributed to Stockholm’s start-up scene boom.

The government in Sweden also has a history of encouraging tech and innovation. Recognising that computers would play a huge role in the future, the Swedish government of the 90s made the bold decision to subsidise personal computer purchases. Their decision massively increased computer literacy rates and saw children in the country grow up with high levels of computer skills. Those early efforts are now paying off handsomely for the country, and Sweden has a digital economy that’s the envy of many countries all over the world.

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