2022 In Review

Ignite Sweden’s matchmaking meetings have led to 453 commercial collaborations between startups, corporates and public organizations being initiated since Ignite began in 2017. Of these, 104 started in 2022 alone.

“Back in 2017, we had a small pilot funded by Vinnova and our goal was to achieve at least ten collaborations between large and small. We had seven months to do this. Although we only had startup connections and no real corporate connections at all, we managed to reach that goal,” remembers Ignite’s Program Manager and SISP’s Interim CEO, Stina Lantz.

The number of startup collaborations increased fourfold to 44 the following year. In 2019, the initiative surpassed 100 collaborations. During the first year of the pandemic, the number doubled, reaching 230 collaborations, and it reached 349 collaborations by the end of 2021.

“I’m very pleased with these strong results given the current economic situation,” says Stina.

More Than 1200 Startups Supported Throughout the Years

Ignite Sweden has provided support to more than 1,200 startups since 2017. Through 5655 matchmaking meetings at 86 events, these innovative companies have been connected with potential customers, including 42 public organizations and 278 established companies.

“In the beginning, the matchmaking meetings were in-person in different locations around the country. Since the pandemic outbreak in March 2020, all of the meetings have taken place digitally,” explains Ignite’s Head of Corporate Relations, Sara Hamlin.

In addition to connecting startups with Swedish established companies and public organizations, Ignite has also linked them with corporate entities from nine other countries, including Brazil, Canada, France, Germany, India, Israel, Japan, South Korea, and the United States.

“All of these are strategic countries for Sweden as a whole, both in terms of import and export,” adds Sara.

Another noteworthy accomplishment is the increase in the follow-up rate, i.e. the percentage of matches that continue in dialogue after the initial meeting Ignite facilitates. In the program’s first year, the rate was 40%; it rose to 50% last year, and is now at 55%.

New Incubator Partnerships Lead to More Startups Participating

Another of the highlights of 2022 is the marked surge in the quantity of startups that have been connected with corporations and public entities.

“We have observed a tremendous growth in the number of startups participating. Last year, we matched 328 startups, in contrast to the 553 startups that we facilitated meetings for this year, of which nearly 300 were introduced to potential customers through Ignite for the first time,” states Sara.

Ignite Sweden was established by three incubators; Sting, LEAD and THINGS. Presently, the initiative has partnerships with 20 Swedish incubators and science parks across the nation. These partnerships have enabled the program to offer support to more startups than ever before.

“The increased participation of startups is due to two major factors,” explains Sara. “Firstly, we now have regular meetings with our partner incubators to identify new startups that have solutions to the corporate and public organization’s innovation challenges. Secondly, we have implemented an API connected to our startup database, making it simpler for us to find startups that can address these challenges.”

Most of the startups taking part in 2022 are focusing on the environment and energy industries, with life science not far behind.

“We are happy to see this, as it indicates that both the private and public sectors are actively looking for startups that can help them solve their challenges in these important fields,” Sara concludes.

Ignite Sweden’s 2022 in Numbers

Commercial collaborations: 104
Matchmaking meetings: 1269
Follow-up rate: 55%
Matchmaking events: 17
Startups matched: 553
Corporates participating: 118
Public organizations: 14
Participating countries: 10
Incubator and Science Parks Partnerships: 20

Ignite Sweden in Numbers 2017-2022

Commercial collaborations: 453
Matchmaking meetings: 5655
Matchmaking events: 86
Startups matched: 1224
Corporates: 278
Public organizations: 42