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Sweden's initially laissez-faire approach to controlling COVID-19 might have helped its tech ecosystem ride out the uncertainty. Several people we spoke to said they saw green shoots regarding revenue growth and retention in their portfolio companies as founders adapted to the pandemic. Areas that are benefitting include digital health and remote work for obvious reasons, but given Sweden's strength in fintech and gaming, those sectors are both well positioned to thrive.
8 investors discuss Stockholm’s maturing startup ecosystem All in all, tech is in a good position
In the realm of European startup ecosystems, Sweden largely Stockholm ranks very close to the behemoths of London, Paris and Berlin. And with 10 million people, the nation certainly punches above its weight, having produced unicorns such as Spotify and Klarna, to name only two.
As a result, the eight investors we surveyed are characteristically bullish about the future, despite a pandemic strategy that became more restrictive in the second half of last year.
Sweden’s initially laissez-faire approach to controlling COVID-19 might have helped its tech ecosystem ride out the uncertainty. “Sweden is more open and is ahead of the pandemic curve, so more people are coming here than the other way around,” said Jacob Key, founding partner with Luminar Ventures.