In 2006, when we started activity in Sweden by joining Sigma Group, we’ve already had significant experience boosting startups in the US market and an understanding of the startup lifecycle and culture. What I’ve found with Nordics was a unique and fruitful startup ecosystem supported by the government. There are many possibilities with incubators, angel investors, VCs, and other players. Startup incubators are usually connected with investment funds (government or public) and can be industry-specific (such as Healthcare, Finance, Media, IoT) or all-purpose. Incubators are great hubs to start with, they help startup originators shape the ideas, find investments, advise on operations, and much more.
The current situation is rosy, but what will tomorrow bring? Do you see any threats for the existing successful startup environment in the Nordics?
Yes, Nordic startups have great access to the financial capital, however, the threat I see is an oncoming lack of human capital. Every startup wants to find an in-house employee to gain an engaged and committed worker. Startups normally motivate key personal with shares options in addition to a competitive salary. However, this approach raises a question of technical excellence, required skills, and efficiency of delivery like in all other companies. Experience shows that finding qualified and efficient people is a difficult task and eventually, the problem of resources crops up.