Today I picked a copy of Kinfolk and I read something that resonated with me. The two most poignant paragraphs went like this:
“The history of technology depends little on man and his freedom,” Milan Kundera writes in The Curtain. “If Edison had not invented the light bulb, someone else would have.”
In fact, prior to Thomas Edison, about 20 people were working on similar inventions. And analogous circumstances apply to the origins of calculus, the polio vaccine, and the telephone, just to name a few. Kundera’s reading of technological development as linear and indifferent to the person behind a discovery rings true. Breakthroughs occur anywhere, it seems, and are only a matter of time.”
While we can count on the world to continuously have breakthroughs, we want to be the one with the breakthrough. Especially in today’s dynamic world, it’s not about the one who can do it faster, or better. It has to be both – You have to be the one who does it faster and better in a sustainable way.
Like what Mahesh Kumar has revealed here, the focus is not just about the idea, but the execution. For most entrepreneurs, financial resources can be a make-or-break solution to whether their idea can fly. Hence, today at Swedish App Scene, we will be sharing four ways on how you can source for funding in Stockholm.
In Sweden, the government plays a vital role in supporting local initiatives, opening up many government-backed programmes to provide funding in Stockholm to entrepreneurs. There are a couple of venture capital agencies that are actively seeking companies to fund. Such examples are ALMI, Vinnova, Tillväxtverket and many more.
Most of these institutions have specialized programs for companies to apply for funding in Stockholm. A recent initiative from Vinnova is called Validator, where they hope to incubate and support companies from the very beginning of conceptualization.
Most universities in Sweden have some sort of initial funding possibilities. Such financing can come in the form of cash, or office spaces at an incubator, with access to broad alumni and investor networks. KTH Innovation is one such incubator that aims to help students to sound out their idea, also providing funding to recruit professional help.
Stagecast, a mobile application spearheaded by 3 students, is under the grooming of KTH Innovation as well. The Stockholm School of Entrepreneurship is also one that has many programs to nurture the next innovative startup, such as SSES Ventures, Affinity program, and pre-incubator Fellowship.
There are many business pitch competitions across Stockholm. Most of these competitions offer cash incentives, exposure to the media, and established networks of the judging panelists. If not for the prizes, getting feedback from veterans will also be valuable to the organization.
Some of such competitions are Venture Cup, which has been established since 1998 and allowing you the chance to win up to SEK 500,000 and get well-needed publicity. Other competitions include The Green Idea, hackforsweden, Livehacks. All this information can be easily discovered if you are well-connected with the entrepreneurial landscape. Check out our Twitter account to see the entrepreneurial thought leaders we follow!
The entrepreneurial space in Stockholm is definitely happening with a capital H. Most business angels or venture capitalists also use events as a platform to reach out to the public.
For instance, Lucey Fund has organized an event at the co-working space SUP46 to seek for new investment opportunities. Such events are usually after office hours, lasting only a few hours yet with potent opportunities.
Here is a list of networking events under Eventbrite which you might be interested!
To borrow the old maxim, “All roads lead to Rome.” There are definitely more ways to secure funding in Stockholm, and the above is also in no way comprehensive. Here is another list of funding opportunities in the whole of Sweden! One road or another, a journey of thousand steps always begins with a single step. It’s time to do something now!