Known for giving the world Skype, Spotify, and Truecaller, Sweden has disrupted the technical ecosystem for a long time, and like India which is currently witnessing a unicorn boom and already has 66 startups that cross the valuation limit for billions of dollars, Sweden has also produced many unicorns late.

“When Sweden and India meet with advisors, startups, talent, investors, etc., the magic really happens, and I look forward to more of this magic,” says Cecilia Oldne, Senior VP, Sweden-India Business Council at TechSparks 2021.

Talks at YourStory’s flagship for startup tech events, Cecilia informed the audience with the opportunities Sweden and India create together through the Sweden-India Business Council, which helps Swedish companies to enter India and support those already present.

“The Council is also the secretary of the India-Sweden Business Leader Roundtable, which is a network of over 40 Swedish and 20 Indian CEOs. These CEOs are connected to the startup ecosystem through the Sweden-India Tech Community, which has companies from the start-up stage to upscaling, academia, media, influencers and so on, ”Cecilia explained.

“It is very important to collaborate and connect the large companies with the startup. We also have investors as part of the Sweden-India Tech Community, says Cecilia.

Sweden also organized one Stockholm Tech Week where Sweden India Business Council, together with Your story, took a delegation of 20 startup entrepreneurs, influencers and investors to the event to learn about the startup scene and opportunities in Sweden.

Niramai, founded by Geetha Manjunath, is a good example of this collaboration. Cecilia revealed that Geetha had flown to Sweden together with the delegation, and now she sees Sweden as an opportunity and plans to work more in the country.

Why are there Indian startups in Sweden?

Cecilia is convinced that the Swedish startup ecosystem is best suited for Indian startups. She says that Sweden has a strong education system, and the country is extremely knowledgeable in technology, where 19 percent of all employees in Stockholm – Sweden’s capital – work in tech, and there is also a very strong demand for technology entrepreneurs and IT. pro.

“Sweden had included broadband in the early 1990s and has been ahead when it comes to technology adaptation,” she added.

Sweden’s strong side of sectors includes games, fintech, music, life sciences and sustainability, which provides an opportunity for Indian startups to shine in them.

Cecilia also mentioned that Sweden’s goal is for 50 percent of future unicorns to be led by women.

Sweden-India similarities

Both Sweden and India are unicorn factories, Cecilia said. From Spotify to Skype, Klarna, Truecaller and more; like India, Sweden also produces many unicorns.

India and Sweden have signed many Memorandum of Understandings (MoUs); one is between NASSCOM and the Swedish Science and Innovation Blog. There is also a joint declaration of action between the two prime ministers working to cooperate more with the space segment. There are many collaborations in the sports industry as well.

“There are many Sweden-India opportunities, collaborations and magic that happen today in the ecosystem. I am also looking for many investment opportunities in the Indian startup ecosystem. I will also bridge and connect Indian investors in Swedish companies,” Cecilia wrote.

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