Want to meet a Unicorn? Go to Stockholm!

With a population of less than 900,000, Stockholm has been mid-wife to the creation of global brands like Skype, Spotify, Minecraft and Candy Crush Saga. Experts say a number of factors – including the global success of well-known Swedish companies, government foresight and infrastructure planning – have fomented an environment that has fostered 22,000 tech businesses in the city alone.

In terms of global cities leading the way in deal growth, Stockholm is second only to Beijing, according to CB Insights. Last year, 788 million dollars of venture and growth capital, excluding private equity deals, was pumped into Swedish companies, the research firm notes. Venture capital investments have increased 338 per cent from last year, and Stockholm commands 15 per cent of the total foreign direct investment poured into the European technology sector.

The country is so small that Swedish businesses always have had to think outside its borders. Companies like Volvo, Ikea, H&M, Absolut Vodka and Ericsson have paved the way for global success. A Swedish company typically begins to expand globally within a couple of years of its start.

Find full report here:
How Stockholm Became a ‘Unicorn Factory’

Barbara Bierach

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