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Record year for Swedish start-up companies

Published: 2 March 2022

Despite the pandemic, 2021 was a record year for Swedish startups. EUR 7.8 billion was invested in the country's technology companies, twice as much as last year. It shows in a new report based on data from the platform Sweden Tech Ecosystem.

This web page has been machine translated. If there are any uncertainties, please refer to the Swedish text.

More than half of the venture capital in 2021 was invested in so-called impact companies, companies that meet at least one of the UN's global sustainability goals. Sweden thus leads the European list in terms of the amount of risk capital invested in impact, a total of 4.3 billion euros. Growth in the area - an increase of 20 times since 2017 - is also Europe's fastest.

- Swedish startups and tech companies are an important and growing sector in Sweden. Despite the pandemic, 2021 was a record year for Swedish startups. With the help of the platform Sweden Tech Ecosystem, we can make visible the breadth of Swedish innovation and it is extra gratifying that more and more companies are working towards the global sustainability goals in Agenda 2030, says Anne Lidgard, director at Vinnova.

The report states, among other things, that the valuation of the Swedish ecosystem almost doubled in 2021 compared with the previous year. The current value - EUR 239 billion, compared to EUR 122 billion in 2020, also means Europe's fastest increase per capita. Sweden is thus one of the fastest growing "startup hubs" in Europe, alongside Germany, France and the Netherlands.

About Sweden Tech Ecosystem

Sweden Tech Ecosystem is an open database that collects information about Swedish startups and scaleups in tech. The purpose of the platform is to open up the networks, facilitate innovation collaborations and enable a more efficient contact between tech companies and investors, at national and international level. The platform was launched in October 2021 as a collaboration between Business Sweden, the Swedish Institute, the Swedish Agency for Economic and Regional Growth and Vinnova.

Read the full report from Sweden Tech Ecosystem

Access data and information via the Sweden Tech Ecosystemplatform

Last updated 2 March 2022

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