From research to the future: How to make Sweden a true startup nation
Sweden Startup Nation on Google's stage in Almedalen
Sweden has one of the most developed innovation ecosystems in the world - but why is so little research being put to use in society?
During the Almedalen week 2025 gathered Sweden Startup Nation brought together a cross-sectoral panel from academia, investor networks and the startup scene at Google to get to the bottom of what is needed for more research-intensive ideas to reach the market - and grow into world-leading companies.
From systems thinking to systems change
Sweden has all the prerequisites: a strong research climate, innovative universities and a well-developed ecosystem. But when you scratch the surface, structural obstacles become apparent. Such as Stina Lantz, CEO of SISP - Swedish Incubators & Science Parks, began:
"We have a lot of challenges that are common to this target group. Despite headlines about unicorns, there is a lot we can do better."
According to figures presented, innovative start-ups represent only 2.2% of all start-ups - but account for over 5% of new jobs. In other words, these companies are societal pillars. Yet much is missing for them to grow in Sweden.
Capital is available - but not to the right companies
Andreas Grape, founder of Nordic Angels, was clear:
"The capital is in the region. What is missing is coordination. We need to stop celebrating when our startups move to the US to find funding."
The panel called for new models where public and private capital interact more effectively - not least pension money, which today is often reinvested in Swedish companies via American funds.
Lisa Ericsson, Head of KTH Innovation and CEO of KTH Ventures AB res, filled in:
"We see a gap in the system - large Swedish companies need to get better at being early customers of deeptech startups."
Talent - a growing obstacle
Sweden is one of the few EU countries without a start-up visa. At the same time, changes in labor migration make it expensive and difficult to recruit skills from outside the EU.
"We invest millions in training international researchers, and then we send them home. It's a brain drain," Ericsson said.
John Strandberg, founder of the AI scaleup company Reedz, highlighted a contrast:
"It is unique how good Sweden is at systems thinking. We are respected globally - but we must not become complacent. We are now starting to fall behind."
Regulations, incentives and policies that hold back
A recurring frustration in the panel was how regulations hinder rather than enable commercialization.
Isabella Melkersson from the medtech startup Sigrid Therapeutics pointed to the taxation of employee stock options as a concrete obstacle:
"In the UK, options are seen as capital, in Sweden as wages. This is crucial if we want to compete globally."
Several participants also suggested an autonomy reform for Swedish universities. As government agencies, they have difficulty acting nimbly in a commercial innovation landscape.
"We need a system where universities can take on the role of engines of commercialization," said Lisa Ericsson.
What does Sweden need to do - now?
Several concrete policy proposals were raised:
Introduce a start-up visa to attract and retain international talent.
Revising the rules for employee stock options - taxation as capital, not salary.
Create salary support for researchers in the commercialization phase (similar to German models).
Invest pension capital in Swedish innovation funds.
Give universities more autonomy and resources to act in a business-like manner.
And most importantly - according to the panel: stop exporting our successes.
"We need to be more patriotic. Celebrate our own successes. Make sure our companies stay and grow here," urged Andreas Grape.
Next steps: Build a knowledge hub for the future
Sweden Startup Nation launched its next step during the seminar: to form an independent data source and think tank for Swedish startups. It will gather and disseminate knowledge from the entire chain - from research labs to the market - and deliver concrete reform proposals to decision-makers.
Stina Lantz concluded by setting the tone:
"We know what needs to be done. Now we need to move from analysis to action - together."
