Sweden must shift gears - action is needed now to harness and scale critical innovation

Sweden has the potential. We have the research, the entrepreneurs and the will. But we still lack the big picture. That was the message when policy makers, researchers and start-ups gathered in the Swedish Parliament to discuss why we are losing momentum - and what it will take to get us back in the lead.

On March 19, the Second Chamber of the Swedish Parliament was filled with people who all carry different pieces of the same puzzle: How do we get Sweden to move from strong ideas to real solutions for the society of the future? During the seminar " How Sweden can become excellent in the utilization of socially critical innovation " it was clear - we know what is needed, but it is urgent to act.

We must choose our future - now

Daniel Vencu Velasquez Castro (S), one of the initiators of the seminar, started the evening with a strong call:

"Innovation is not a luxury - it is a necessity."

Climate crisis, skills shortage, energy shortage - Sweden faces enormous challenges. At the same time, we have some of the world's most advanced research environments and a strong start-up culture. Yet we are failing to scale up innovations to the level where they really make a difference - globally.

Sweden loses momentum

Darja Isaksson, Director General of Vinnova, painted a picture of a country that has been in the lead - but now risks falling behind.

"We fell from 17th to 25th place in the global AI index in just one year. This isn't about numbers - it's about jobs lost, investments that don't come and innovations that get stuck in the lab."

Her message: Sweden needs a strategy - not more good intentions.

Startups as engines of society - but the system can't keep up

Stina Lantz, CEO of SISP, was clear that the gap between Sweden's innovation potential and real impact is too large.

"Only 0.19% of all Nordic small businesses become global scaleups. Yet they are the ones that create the jobs and industries of the future."

For more Swedish startups to scale up, a national strategy for innovation and commercialization is needed - a strategy that takes ideas all the way from research lab to market.

Capital - the missing link

Several speakers highlighted the structural problem of capital supply for deep tech and industrial companies. Karin Ebbinghaus, CEO of Elonroad, described how their internationally acclaimed electric road solution is now threatened - not by the technology, but by the lack of the right kind of capital.

"If Sweden wants to lead the climate transition, we need patient, long-term capital. Otherwise we will move the companies to other countries."

She and others highlighted the need for evergreen funds, which can support companies with longer growth cycles than traditional venture capital funds can handle.

Talent, investment - and future - at stake

Panelists Boel Rydenå Swartling and Klementina Österberg put their finger on a growing problem: Sweden is being challenged by countries with clear strategies, better conditions and greater willingness to invest.

"We identify key technology areas - but we lack the support systems to take the ideas to the finish line."
"Our companies compete not only with technology, but with countries' entire ecosystems."

If we do not act now, Sweden risks losing an entire generation of industrial companies of the future.

The Academy's role - and responsibilities

Elias Arnér, professor and founder of a research-based antibiotics company, raised a crucial question: how do we ensure that the research we already pay for actually benefits society?

"We spend over SEK 50 billion a year on research - but how much reaches the market? We need to stop being afraid of commercialization."

The role of policy: from conversation to action

The seminar ended with two voices from politics: MP Lili André (KD) and State Secretary Maria Nilsson. Both emphasized that Sweden has a choice to make - now.

"We don't need more investigations - we need the tools and courage to make decisions."
"We can't be the best at everything, but we can be world leaders in our strongest areas - if we dare to prioritize."

The conclusion: Sweden cannot afford to wait

As the conversation turned to mingling, there was an unusually clear realization in the air: Sweden has a huge opportunity - but also an urgent need for change.

"We know what it takes. Now we just need the courage and determination to do it."
- Stina Lantz, CEO SISP

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