The world’s finest engineers, entrepreneurs, and researchers face no scarcity of alternatives. If you happen to’re constructing the longer term in frontier applied sciences like AI, you might base your self anyplace. So the true query is the place. The reply at present factors north—to Stockholm.
The European Commission lately declared Stockholm as Europe’s most modern area. Forward of Copenhagen, London, and Zurich, the Swedish capital took the highest spot. Not simply total, however on a variety of particular person indicators, from lifelong studying and share of tech specialists employed to cross-border scientific publications, collaboration between SMEs, patent filings, and logos.
Proper after the European Fee’s report, town’s personal Lovable was declared the fastest-growing software startup in international historical past. That is one other indicator of Stockholm as Europe’s capital of the longer term—admittedly anecdotal, but laborious to disregard.
STOCKHOLM’S LIFESTYLE EDGE
After all, for you—a world high expertise—there are areas past Europe to think about. The U.S. and China nonetheless have metro areas which are extra modern, for now. However what Europe’s modern heart may also provide is one other lifestyle.
Sweden constantly ranks among the many world’s most gender-equal societies. The childcare system is excellent—enabling each dad and mom to mix engaged parenthood with profession development. Society is cultural, inventive, democratic, egalitarian, and open. Clear air and water, easy public transportation, and buildings designed for gentle and air flow make day by day life in Stockholm unusually comfy.
Authorities paperwork is gentle for people and firms. Beginning a enterprise is simple, vitality costs are amongst Europe’s lowest, and taxes not as excessive as Sweden’s repute suggests. With no wealth or inheritance tax, low company tax fee, and minimal on a regular basis prices for healthcare, childcare, and schooling, the advantages typically exceed the earnings tax fee headlines.
Add in beneficiant parental depart (exported by Spotify to the U.S.) and EU freedom of motion, and this capital gives a package deal of advantages not often matched in different hubs. For a lot of specialists, flatter buildings and shorter weeks tip the stability in Stockholm’s favor.
Quick Firm acknowledged our Stockholm-based actual property agency as one of many World’s Most Revolutionary Corporations. My job at Atrium Ljungberg can maybe finest be described as taking part in SimCity however in actual life, with town I really like most as the sport board.
To be totally clear, the job comes with a dose of stakeholder administration and administration that SimCity leaves out—however nonetheless, the analogy is strikingly true.
Stockholm is evolving, and it’s a thrill to be a part of the journey: Atrium Ljungberg is redeveloping Slakthusområdet, the world’s largest transformation of a meatpacking district, whereas additionally constructing Stockholm Wooden Metropolis. The renewal of Slussen, a central hub, is nearing completion, as is the enlargement of Hagastaden, linking town with Europe’s high medical college and hospital. They knit previous districts and new innovation hubs right into a extra related metropolis.
FROM NOBEL PRIZES TO SPOTIFY: THE CITY’S LONG GAME
How did Stockholm change into Europe’s most modern area? It helps to begin at first. Stockholm’s custom has lengthy proven progress.
By the Eighties, Stockholm had probably the most telephones of any metropolis on the earth. The Nobel Prize was established in 1901 and shortly grew to become the world’s most prestigious award throughout 5 scientific disciplines, later joined by a sixth in economics.
A collection of world-class corporations have been created right here within the pre-WW2 industrial period, together with Ericsson, Atlas Copco, and Electrolux. That interval laid the groundwork for Stockholm’s rise.
Town gained a repute as a hub of sensible innovation and engineering. In 1954, the Royal Institute of Know-how hosted Sweden’s first nuclear reactor, constructed underground in the course of town. By the Eighties, Stockholm’s universities have been amongst Europe’s first on-line.
The 1997 “Residence PC reform” gave Swedes tax-free entry to computer systems by way of employers, driving mass adoption and digital abilities.
Because the 90s, Stockholm has produced one other wave of champions: Spotify, the main music streaming service globally; EQT, one of many world’s largest non-public fairness corporations; and Klarna, a fintech big. Stockholm now counts extra listed corporations than any European metropolis, together with London and Frankfurt.
Alongside the best way, Stockholm additionally grew to become a inventive capital. Town that after exported timber and metal now exports pop music, design and gaming—from Avicii to Zits and Minecraft, with billions playing our video games.
In 1968, solely 1 / 4 of Swedes had eaten out within the final quarter, and kitchens nonetheless shut at 8 p.m. Right now, Stockholm is a metropolis stuffed with Michelin stars, neighborhood bistros, late-night bars, and golf equipment.
THE ECOSYSTEM BUILDING EUROPE’S NEXT GIANTS
Sweden ranks first in Europe by VC investment per capita and unicorn creation per capita. However capital alone doesn’t construct corporations—expertise does. In Stockholm at present, workplaces are more and more designed to draw it: extra like golf equipment or labs than workplaces, they provide expertise autonomy, wellbeing, and connection.
A various set of Stockholm ventures is now breaking floor. Einride, placing autonomous electrical vehicles on roads throughout continents, and Candela, whose electrical boats ferry Stockholm’s commuters, drive the way forward for transportation. Trend and sweetness names Toteme and Estrid stand beside music investor Pophouse, steward of catalogues from Avicii to KISS and Cyndi Lauper. Traders Creandum, EQT Ventures, Northzone, and Norrsken have underpinned town’s ascent as certainly one of Europe’s main enterprise hubs.
Scaling corporations eat huge quantities of vitality. To help the hovering demand, nationwide vitality firm Vattenfall and the federal government simply introduced that Sweden will construct a collection of small modular reactors (SMRs). The initiative is notable globally: Whereas most international locations are nonetheless piloting single SMR initiatives, Sweden is planning a program at scale, aimed instantly at powering fast-growing industries.
Propelled by clear vitality, tradition, and funding, few locations mix magnificence and dynamism like Stockholm: the Nordic Venice with its islands, a cultural metropolis from Gustav III’s opera home, to Max Martin’s pop, constructed on democracy and openness. But its actual power lies in its trajectory. For builders, creatives, and intellectuals, Stockholm has change into Europe’s most engaging base to vary the world from.
Linus Kjellberg is head of enterprise growth at Atrium Ljungberg.
