Sweden’s Digitalization Wave

But why have entrepreneurs from Scandinavia embraced the promise of digitalization so quickly and successfully? For one thing, Sweden is generally considered very open on matters relating to technological progress. Right from the beginning, there was great trust in the opportunities that digitalization offers – which Ericsson may have helped to promote early on as a leading global IT and communications company. In addition to the economy, the government also recognized the positive aspects of digitalization early. They have teamed up to advance the country’s digital transformation. An overall national digital strategy emerged about ten years ago from a dialogue with citizens and proved helpful. It is supposed to help make Sweden one of top industrial countries worldwide. The government wants Swedish companies to be in the vanguard of Industry 4.0 and thus maintain their international competitiveness. Along with neighboring countries, Sweden also has its eye on a cross-border 5G network that would digitalize commerce and production quickly and extensively. As part of a “Broadband Forum,” Sweden is also bringing representatives of the government, industry and other organizations together to carry out a domestic broadband expansion as quickly as possible. A full 95 percent of all Swedish households are due to be connected to it in 2020, including those on many of its coastal islands.

Positive Environment for Startups

If you are immersed in the advantages of digitalization in your professional and personal life, you might come up with your own ideas about the next new innovation more easily. The conditions for innovation are outstanding in Sweden. At any time, employees can take six months of unpaid leave to pursue their own business ideas. It is a piece of the puzzle that has fueled an extremely lively startup scene from Stockholm to Malmö. And then there is the teamwork – easily visible in the collaborations of companies and startups – that is strongly anchored in Swedish society. Many institutions (such as incubators and accelerators) make it easier for company founders to get started. Financial support and networks can be easily mobilized. Moreover, entrepreneurship and the enterprising spirit enjoy comparatively high esteem in society. The foundations are laid in schools and courses of study at an early stage. Swedish startups are the current leaders in financial services software, online commerce, health technology, artificial intelligence, and cyber security. Their transnational success is tied to the fact that Sweden’s growth-oriented companies think in international terms right from the outset. And then there is the fact that Sweden is one of the world’s most trend-sensitive countries, according to Interior Minister Mikael Damberg. This makes it an attractive test market for new products developed by international companies. It’s no wonder that Hannover Messe proclaimed Sweden, a country that could not be more thrilled with digitalization, as this year’s partner country.

Between now and summer, we will be shedding light on various facets of digitalization in this space and in the May edition of our customer magazine ESSENTIAL. Learn more here.