How Stockholm unleashes the potential of global talent

Our well-developed innovation ecosystem is no happy coincidence. It’s taken years of building and nurturing to get us to where we are today. Our many accelerators and incubators have played a key role, helping startups to develop their business models and grow their enterprises. 

Incubators provide startups with office space, access to funding, and mentorship, while accelerators offer intense training programs and seed funding. There are several renowned incubators and accelerators in Stockholm, such as STING, Norrsken, and SUP46, among others.

Fostering and developing talent

Sweden is highly committed to enabling the reskilling and upskilling of its talent to meet the demands of the future. For example, a new initiative has been launched nationally to promote up- and reskilling for adults called Omställningstudiestöd. This initiative targets adults between the ages of 27 and 62 who have previous work experience and wish to upskill or reskill themselves in order to enhance their competencies and secure jobs within industries that are currently in need of skilled labor.

Through this initiative, the government, specifically the governmental agency CSN, subsidizes up to 80% of the individuals' salaries, subject to a certain maximum limit. The primary goal of this initiative is to improve the talent supply for industries by facilitating access to training and employment opportunities for individuals looking to broaden their skill sets.

Designated collaborative spaces

Stockholm is home to a diverse range of professional meet-ups, events and conferences that bring together like-minded individuals and industry experts. These events provide networking opportunities and a chance to learn from some of the world’s top thinkers. 

Co-working spaces are another valuable resource for both businesses and talent. These spaces offer flexible working arrangements, affordable office spaces, and a collaborative environment that encourages innovation and creativity. 

Speaking of collaboration, it’s one of our city’s most prevalent qualities. Not only do our entrepreneurs and talent often team up to fill competence gaps, there is a long-running and well-established collaboration between the state, private sector, and academia. The Triple Helix Model has been successful in Stockholm, fostering innovation and entrepreneurship in the city. The government provides funding and infrastructure, while the private sector brings in investment and expertise. Academia, on the other hand, provides research and knowledge that can be applied to businesses. 

Security for businesses and talent

Sweden is globally envied for its social security system, which exists to protect both talent and businesses. This sense of safety makes people more likely to take risks and explore new opportunities. The Swedish government supplies a range of support and incentives for businesses, including research and development subsidies, export promotion, and start-up support. 

It’s also reassuring to know that healthcare isn’t dependent on employment. Everyone who is a legal resident of Sweden can seek healthcare, the costs of which are heavily subsidized by the government. The Swedish social insurance system includes a range of benefits, such as sickness benefits, parental benefits, unemployment benefits and disability benefits. Childcare is widely available and capped at a maximum cost of 1,572 SEK (€145) per child per month, making it affordable for every family.

A-kassa is another important safety net for talent in Stockholm. Also known as the unemployment insurance fund, a-kassa provides financial support to individuals who have lost their jobs and are actively seeking new employment. It is an optional insurance scheme that requires monthly payments, and to be eligible for benefits, individuals must have been employed for a certain period of time.

All in all, Stockholm is a vibrant and supportive city that offers a range of resources, opportunities and assurances for talent. With its unique blend of innovation and collaboration, our region is the perfect place for driven people to reach their potential.