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A Nordic pioneer: Europe’s answer to Silicon Valley: It is easy for start-up founders in this country message


A kingdom for a unicorn

No other country in Europe can compete with this: Sweden has the most unicorns per capita in Europe, based on the number of inhabitants, i.e. companies whose value is estimated at over one billion US dollars. The most well-known Swedish greats include Spotify and the companies that have become part of Microsoft Skype and Mojang, who became known as the developer of the popular PC game Minecraft. But it is no coincidence that the Nordic country has so many successful startups. So founders in Sweden can look forward to a lot of support.

Time-out for start-ups

For example, Swedish workers have the right to take an unpaid six-month break from work if they want to start a business. However, the newly founded startup may not compete with the previous employer. It is also a condition that the employee must have worked full-time for at least six months beforehand. The employer can reject the application for his time-out, but only if the employee is essential for business operations.

A convincing model

The Scandinavian corporate culture is considered a pioneer in European comparison and is named by the World Economic Forum as one of the main reasons why Sweden has managed to stomp so many successful startups. The system would have resisted relatively high taxes in Sweden. Tech companies in particular would benefit from the infrastructure that could be expanded through high taxation. Sweden, together with its neighbor Norway, is characterized by an extremely high average Internet speed. Since the Swedish domestic market with around 10 million inhabitants is quite tranquil, domestic companies are forced to gain a foothold on the international market through innovations and digital strategies. This is also favored by the education system, in which children come into contact with English at an early age and learn how to use computers at an early stage in a playful way.

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