Brief summary of the report:

  • Swedish startups are now worth a combined  €239 bn
  • Swedish startups have doubled in value in the last five years
  • Sweden has produced 41 “unicorn” startups (valued $1 bn +)
  • Swedish startups raised a further €4.7 bn of venture capital investment in 2023
  • Sweden ranked 3rd in Europe for deep tech VC investment and 2nd for impact investment in 2023
  • 74% of Swedish investment was raised by Impact startups
  • Sweden maintains its position as 4th in Europe by VC investment raised, and ranks 3rd in Europe for deep tech investment and 2nd for Impact.
  • Sweden ranks 5th in Europe based on university spinout value created.
  • Multiple Swedish unicorns have produced new founders from their staff alumni – including companies like Kings, iZettle, Spotify, Klarna, Northvolt, Voi and Trustly.
  • Swedish startups create 138k jobs globally in 2023, including 79k jobs in Sweden. Startups outside top companies and unicorns are creating 96% of local jobs.
  • Sweden's national incubator programme ranks as world class, and several of the incubators are also top-performing in a global comparison.

“It’s really impressive how Sweden's startup ecosystem continues to be in the lead with its unprecedented growth and innovation. With a staggering combined worth of €239 bn, Swedish startups have not only doubled in value over the last five years but have also created 41 unicorn companies, solidifying Sweden as a powerhouse and the place to be in the global tech scene”, says Jaani Heinonen, Head of Investment Promotion at Business Sweden

“The Swedish ecosystem of startups is crucial for our ability to change to a society within the borders of the planet. I ampleased to see that Sweden’s exceptionally strong position in startups and unicorns continues to impress and yield results”, says Darja Isaksson, Director general of Vinnova.

“Sweden has one of the world's strongest national brands. International index show that we perform very well in, for example, innovation, talent and competence, climate and sustainability and gender equality. These are all areas that are important for attracting investment and talent to Sweden, and this report is proof that our competitiveness holds up”, says Madeleine Sjöstedt, says Madeleine Sjöstedt, Director General at the Swedish Instutite.

Click here to read the full report:

About Sweden Tech Ecosystem 

Sweden Tech Ecosystem is an open database that catalogues information about Swedish startups and scaleups. The platform, powered by Dealroom, was launched in
October 2021 by government agencies Business Sweden, the Swedish Institute, Swedish Agency for Economic and Regional Growth, and Vinnova. 

Visit the platform here:

For more information, please contact: