If you ask a handful of internationals about their assumptions about Sweden, you will most likely hear them mention anything from the cold darkness to a love of nature, a progressive affluent society to a high quality of life. Push this question a little further, then names/brands such as Nobel, Ikea, Spotify might arise. These names, of which, begin to hint at the strong undercurrent of innovation, entrepreneurship, and tech that flow as freely as kanelbullar during fika in Swedish society.
Despite this Nordic country’s small population, it boasts a high level of influence on global innovations. According to the Global Innovation Index in 2023, Sweden is ranked second in Europe and high-income countries for its capacity and success in innovation.
But what does this have to do with sustainability, you might ask. In addition to innovation, Sweden has long positioned itself as a global leader in the fight against climate change, being the first country to pass an environmental protection act in 1967 and first country to host a UN conference about the global environment in 1972. This unified momentum and “green vision” has charged forward into 2024 and stands strong as a central focus in Swedish research and investment, as noted in The Swedish Research Barometer from Vetenskapsrådet.
We see an impressive number of growing companies addressing environmental challenges in the Nordics, turning our area into a global hub for cleantech investments. Notably, Sweden not only attracts significant investments, but also outpaces its Nordic counterparts. And indeed, when considering investments per capita, Sweden emerges as a leader on the European stage as well.
This dominance in sustaintech innovation takes center stage at the 6th edition of Sustaintech Venture Day (SSVD).
In 2023 alone, Sweden garnered an impressive 4,746 M EUR in cleantech investments, marking 209 deals. This upward trajectory in Sweden’s cleantech investment landscape has been evident over recent years. A closer look at the dealflow also reveals that Sweden is strong within every tracked industry segment. From energy to water, waste management to transportation, Swedish companies consistently secure top positions in deal values within the Nordic investment landscape. Among the top 50 Nordic deals, a remarkable 23 originate from Sweden.
When looking at the dynamic landscape of Swedish sustaintech, prominent players such as Northvolt, H2 Green Steel, and Qvantum standout for their solutions and progress in batteries, green steel, and energy efficiency. These companies are becoming global leaders within each of their domains, and SSVD offers a prime opportunity to delve into the success stories of these industry leaders, providing valuable insights and serving as a source of inspiration. Additionally, companies like Candela, Orbital, and CorPower Ocean are demonstrating innovation and creativity in this space, with solutions in electric boats, water and energy efficiency, and wave technology.
On October 9th and 10th, the SSVD program offers an investor cleantech tour, matchmaking sessions, featured company presentations, topical breakout sessions, and panel discussions highlighting relevant sustainability news and trends. This curated event enables experts to evaluate which companies have their finger on the pulse of innovation and are ripe for scaling. SSVD serves as a platform not only to celebrate the accomplishments of established industry leaders but also to shine a spotlight on emerging innovators, fostering a vibrant ecosystem of sustainable technology in Sweden.
The Swedish sustaintech sector, with its significant international exports, plays a pivotal role in shaping Sweden’s economy and future job landscape.
Sweden has come a long way, yet, the journey continues, emphasizing the importance of sharing experiences, learning from those ahead, and fostering collaboration. SSVD offers a prime opportunity to highlights insights, statistics, success stories, and promising companies that exhibit rapid sales growth and maturity.
While driving Swedish leadership is crucial for sustained growth, providing these companies with enabling conditions for scaling-up and venturing into international markets is equally imperative. This not only aids in combating climate change, but also fosters job growth and revenue within Sweden. Recognizing the need for additional funding to support these ventures, this year’s edition of SSVD will be focused on scaleup financing and understanding how we can propel the sustaintech sector forward, ensuring that promising companies receive the support they need to make a lasting impact on the global stage.
