With 30 million SEK in funding, Ignite Sweden will run the Ignite Impact project from 2025 to 2027, aiming to foster business-driven innovation collaborations between Swedish startups and established organizations in both the private and public sectors.
“This funding enables us, in close collaboration with our partners across the country, to continue our mission to support Swedish startups in securing their first customers. The strong interest in this funding call highlights the importance of this mission, and we are immensely proud that Vinnova recognizes the quality and potential of our work,” says Sara Hamlin, CEO of Ignite Sweden.
Expanding Ignite’s Proven Matchmaking Process
Ignite Impact will build on Ignite’s proven matchmaking process, which since its launch in 2017 has facilitated over 7,700 tailored meetings between startups and established organizations. So far, Ignite has resulted in more than 715 innovative collaborations.
During the Ignite Impact project period, Ignite sets a target to facilitate over 1,800 tailored connections between at least 600 Swedish startups and 200 established organizations, with a goal of creating at least 240 new concrete innovative collaborations.
The project will have a strong focus on sustainable innovations and inclusive growth, and the startups will meet potential customers from both the private and public sector from Sweden and abroad.
“We don’t just want to create business opportunities – we want to create business opportunities that make a difference. Through Ignite Impact, we will contribute even more to the green transition. We are deeply humbled by this funding and the opportunity it represents, as it allows us to build on the systematic work we have done since 2017 and deliver even greater value to Sweden’s startups,” continues Sara Hamlin.
Making Impact at a National and Global Scale
Ignite Impact aims to engage startups from across Sweden. Through partnerships with innovation hubs and incubators in Sweden, as well as key ecosystem actors abroad, the project will strengthen its capacity to support startups at every stage of their growth journey.
“We look forward to continuing to work closely with our national and international partners to create real impact for startups. An important mission for Ignite is also to strive for more collaborations across the Swedish ecosystem. We welcome other actors with similar goals to reach out to explore collaboration opportunities to create even greater impact together,” Sara Hamlin concludes.
About Ignite Sweden
Ignite Sweden is a national, non-profit organization aimed at increasing business collaborations between startups, large companies, and the public sector. Ignite Sweden partners with 33 incubators and accelerators across Sweden. To date, the process has engaged over 1,759 startups and around 415 established companies and public actors, resulting in 715 innovative collaborations.
For more information, please contact:
Sara Hamlin
CEO, Ignite Sweden
sara@ignitesweden.org
+46 702829178
The initiative, led by AI Sweden and Ignite Sweden, has grown to include a total of 210 AI startups in its latest release.
The Swedish AI Startup Landscape aims to showcase innovative AI startups nationwide, with the objective of enhancing their visibility and fostering the acceleration of AI innovation across Sweden.
“We are witnessing a truly dynamic and rapidly growing ecosystem. It’s an exciting reflection of Sweden’s expanding role and momentum in AI innovation,” says Michell Hanna, responsible for the project at Ignite Sweden.
The new companies featured in the Swedish AI Startup Landscape are: Algeno, ATO Energy, Blast Bit Enterprises, CADcog, CuraStream AI, EdTools, Filestar, Find My Factory, GreenMetrica, Heartspace.AI, HughGrants, Indicate me, Interspectral, Klicka AI, LEVTEK, Lightbringer, Motorica, Multiply, Normain, NorthernLight Diagnostics, Paniax, Parsd, Phenaros Pharmaceuticals, PryvX, RECILIO, Sanctify Financial Technologies, and Your Speech Factory.
Their applications were evaluated by a committee of 14 AI experts from investors, large companies, academia, and incubators, based on various selection criteria, including their use of AI, scalability, data access and utilization, and the AI expertise of their personnel.
The new startups showcase a broad range of AI applications that underscore Sweden’s dedication to advancing AI across sectors. They offer innovative solutions in diverse areas such as healthcare, energy, manufacturing, sustainability, and cybersecurity.
“Their work not only strengthens Sweden’s standing in the European AI community but also exemplifies the collaborative energy that’s driving AI’s potential to reshape industries and societies alike,” says Michell.
The Swedish AI Startup Landscape is part of the broader European AI Startup Landscape, featuring over 1,000 companies from Sweden, France, Germany and the Netherlands. The initiative is a collaborative effort between appliedAI, Hub France IA, The Netherlands AI Coalition (NL AIC), Ignite Sweden and AI Sweden.
Check out the Swedish startups in the Landscape here.
Check out the Swedish startups within the Swedish and the European AI Startup Landscape here.
Startups interested in applying to be featured in the next update of the landscape can read more on how to submit their application here.
These are the 27 startups added to the Swedish AI Startup Landscape
Algeno: Energy optimization for property owners.
ATO Energy: A dynamic rating system that increases grid capacity without the need for new physical infrastructure.
Blast Bit Enterprises: Spearheading the evolution of interactive experiences.
CADcog: An XR platform for creating inclusive & accessible products.
CuraStream AI: Autogenerate clinical notes with AI-powered documentation.
EdTools: AI Math studying site for high schools.
Filestar: An AI powered file automation tool.
Find My Factory: Connects the digital traces around the world for supplier discovery.
GreenMetrica: Offers AI-powered solutions that bridge the gap between sustainability needs and technology solutions.
Heartspace.AI: AI-driven and expert-powered PR on demand.
HughGrants: AI-tool to minimize grant administration.
Indicate me: Empowering customer service with AI-driven insights.
Interspectral: 3D visualization and smart decision support systems for the manufacturing industry.
Klicka AI: AI models to automate human work on computers.
LEVTEK: Software-defined ultralight vehicles and collaborative robots for transportation of personnel, equipment and small goods.
Lightbringer: Automates the patent process using AI, from inception of idea to granted patent.
Motorica: Generative AI for motion synthesis, making AAA animation possible in minutes.
Multiply: A bespoke, no-code AI platform for teams.
Normain: A knowledge work automator for tasks traditionally done manually by specialists.
NorthernLight Diagnostics: Decision support for healthcare professionals of antidepressant treatment.
Paniax: A pioneering data science research lab.
Parsd: Digital end-to-end research for fact-based insights.
Phenaros Pharmaceuticals: Accelerate drug discovery with AI, phenomics, and automation.
PryvX: A platform that enables data collaboration between telecom operators and banks to combat cybercrime.
RECILIO: AI-power virtual wellbeing platform for organizations.
Sanctify Financial Technologies: AI for reading and analyzing news.
Your Speech Factory: AI agent boosts meeting prep with neuroscience.
The evaluation committee
Agneta Jacobson (AI Sweden)
Daniel Gillblad (AI Sweden)
Erik Borälv (Vinnova)
Ingrid Af Sandeberg (Stockholm AI)
Jakob Engdahl (Statistics Sweden)
Patrik Kägu (Almi)
Raoul Stubbe (Sting)
Rebecka Löthman Rydå (Inventure VC)
Rickard Lönneborg (Codemill)
Stina Lantz (SISP)
Vik Li (Ericsson Ventures)
Vishnu Rajanikanth (Volvo Group)
Petra Dalunde (RISE – Connected Societies)
16 startups from Sweden, Finland and Singapore were connected with corporates and investors in 61 curated matchmaking meetings.
Organized by Ignite Sweden and SISP – Swedish Incubators and Science Parks as part of the Nordic Singapore Innovation Days 2024, the event brought together five investors and nine large companies from the Nordics and the APAC region.
The event introduced a 360° matchmaking concept, where Swedish startups met with leading corporates from the APAC region, joined by Singaporean startups for a dynamic matchmaking session. In parallel, SISP organized an investor matchmaking event, connecting Nordic and Singaporean startups with investors and facilitating connections among investors themselves.
The goal was to explore ways to streamline cross-border investments between the Nordic countries and Singapore.
“I have six matchmaking meetings scheduled for today—four with corporates and two with investors. I’ve already had two meetings, one with Siemens Energy, which we’ve collaborated with before, and one with a Singaporean industry leader in lifting solutions. We’ve already scheduled follow-up meetings,” said Johan Hesslind, CEO of the Swedish company Ekkono Solutions, during the event.
Ekkono Solutions is one of the six climate tech Swedish startups participating at the event, together with Graphmatech, Hopsworks, Mimbly, Quandify, and The Train Brain.
“This matchmaking is the best part of this delegation for me, as I’m here to do business for Ekkono,” added Johan.
Shaping a Future Without Boundaries for Innovation
One of the investors participating in the matchmaking was Harry Krkalo, Co-Founder of GLy Capital Management Ltd, who shared his enthusiasm for the innovative startups he encountered.
“I’ve now met one or two startups that I think are eminently investable. They are looking like they’re tackling something big and have already made some traction in that role. So it’s quite, quite exciting!”
Ignite’s Head of International Projects, Elijah Aldana, was satisfied after a fully scheduled matchmaking day.
“This initiative speaks volumes to the want and need of small innovative countries to collaborate together. Taking a unified Nordic front between Sweden and Finland, we saw an openness from key Singaporean actors that I could have never expected. The matchmaking is more than meetings — it’s about creating a future where innovation knows no boundaries”
Nordic Singapore Innovation Days is a collaborative initiative organized by Vinnova, SISP – Swedish Incubators & Science Parks, Ignite Sweden, Business Sweden, Business Finland, Nordic Innovation House – Singapore, SGInnovate, and Enterprise Singapore. This initiative aimed to lead pioneering efforts, create lasting impact, and pave the way for meaningful innovations and a future filled with sustainable solutions.
Learn more insights on the Nordic Singapore Innovation Days here.
The second ScaleAble Matchday in Stockholm connected scaling companies and corporates to drive energy transition across the Central Baltic region.
Organized by Ignite Sweden, Norrköping Science Park, SISP – Swedish Incubators & Science Parks, Tehnopol, and Business Turku, the event’s goal was to foster collaborations between corporates and scaling companies with solutions for the energy and green transition.
The event is part of the Central Baltic Interreg Programme project ScaleAble, aimed at helping scalable companies grow through cross-border partnerships.
“By building strong networks and uniting different areas of focus, the project offers scaling companies the opportunity to scale internationally. A key aspect is the enriching diversity of cultural perspectives, especially during live events, which strengthens cooperation across borders,” says Julia Ekström, Growth Advisor at Business Turku.
Johanna Lindholm-Järvinen, Senior Sales Manager from Rester, a Finnish startup which transforms textile waste into high-quality fibers by mechanical recycling, shared her thoughts on the cross-border collaboration enabled by the project.
“The concept behind the ScaleAble project is great, bringing together scaleups and startups with innovative ideas and new technologies, and integrating them into large companies that have the capability to implement and benefit from them. I especially appreciate the cross-border collaboration because Finland, Sweden, and the Baltic countries are fairly small countries. It’s really important that we don’t let borders limit us but actually foster cooperation across the countries.”
Workshop on Startup Collaboration and Reverse Pitching
The first day of the ScaleAble Matchday began with a workshop on startup-corporate collaboration, where participants explored the common challenges and obstacles in forming partnerships. Liebherr and the startup IPercept also shared their success stories, offering key insights into overcoming the difficulties startups and corporates often face when working together.
The event continued with a reverse pitching competition, where corporates took the stage to showcase why their company is an ideal partner for startups. Stockholm Exergi took home the win, impressing the audience with a compelling pitch.
The energy in the room was palpable, with participants eagerly engaging in discussions and spontaneous meetings.
“I really liked all the networking. People were so interested in understanding each other’s companies and challenges, and there was open discussion everywhere,” says Åsa Lyckström, Head of Sustainability at Siemens Energy.
Matchmaking to Drive Collaboration
The second day of the ScaleAble Matchday was entirely dedicated to the curated matchmaking meetings, where more than 50 scaling companies from Estonia, Finland, and Sweden connected with 15 leading corporations such as Royal Caribbean Group, Fortum, A2A, Elisa, EnBW, and Valmet Automotive, all keen on exploring new technologies to drive innovation within their industries.
More than 100 tailored meetings were held during the day, along with spontaneous in-person connections that added an extra dynamic to the event.
Arwin Zendehrokh, Project Manager at Ignite Sweden, explained the process behind the matchmaking.
“We began months ago by engaging the participating corporates and identifying their technology needs. Then we scout across the ecosystems of Finland, Sweden, and Estonia to find suitable startups. This involves reviewing applications, searching through various databases, and collaborating with incubators to ensure the best possible matches. The meetings during the ScaleAble Matchday are the result of this thorough process.”
Kaisa Einsok, Discovery Manager at Eesti Energia, was impressed by the quality of the companies she met throughout the day.
“All the startups I met were very well prepared and it was very easy to talk to them. They align closely with what we are looking for, so our needs were very well matched with the startups. We had conversations about how we can actually succeed together.”
For Aleksandr Zirk, VP of Business Development for the Baltics and Nordics at Bisly, a startup democratizing building automation, the event presented a crucial opportunity to connect with potential corporate partners and explore new markets.
“Bisly is already well-established in the Estonian and Baltic ecosystems, but now we’re looking to expand into the Nordic region. Finding corporate counterparts to help us penetrate that market is essential.”
Informal Conversations and Strong Connections
One of the standout features of the ScaleAble Matchday was the opportunity to meet in person. Beyond the pre-booked, curated meetings, the event fostered numerous informal discussions and spontaneous interactions that contributed to its success.
For Fusebox Energy, a startup bridging the gap between energy assets and energy traders, the informal conversations began even before the event started.
“For me, the event began at the Tallinn airport when I met local Estonian startups and corporates. I had informal conversations, sharing laughs and getting to know each other better. Sitting down with corporate representatives over a sandwich, cake, or coffee creates a completely different atmosphere compared to meeting in an office and jumping straight into a pitch,” says CEO Tarvo Ong.
With the second ScaleAble Matchday wrapping up, participants left with new connections, insights, and opportunities for collaboration. Basma Lerström, Nordic Sales Manager at Woola, a startup using waste wool to replace plastic bubble wrap, reflected on the value of these face-to-face meetings.
“Through the spontaneous meetings, I’ve managed to gather so many insights into the inner workings of corporates, the concerns and challenges they deal with, and how startups like the one I’m representing today can really address their needs in an innovative and fresh way”
The ScaleAble project will continue with a third matchmaking event on February 12 and 13 in Tallinn, Estonia, this time connecting corporates with scaling companies with solutions within secure tech and dual use. More information about the project here.
Watch this video to get a glimpse of the second ScaleAble Matchday’s highlights
50 startups from France, Germany, and Sweden showcased groundbreaking solutions, fostering strategic partnerships with corporations at the European AI Startup Matchday.
Nearly a hundred 1:1 tailored meetings took place during the two-day event at Malmö’s startup house, Minc.
In addition to the matchmaking session, attendees had the opportunity to network with other participants at various events, including an icebreaker mingle at Devhub — Malmö’s premier hub for gaming startups. They also participated in breakout sessions exploring both the European AI ecosystems and the local Skåne ecosystem, as well as a workshop on corporate-startup collaboration.
“This event aims to help startups accelerate their innovations and create partnerships to help scale their company and their business in order to grow their innovation. We have also arranged numerous mingle opportunities to help the startups, not only connect with those corporates that they have been matched with, but also to engage in peer-to-peer discussions with other startups,” says Elijah Aldana, Head of International Projects at Ignite Sweden.
Driving AI Adoption in Europe
The event was organized by AI Sweden, appliedAI Institute for Europe, Hub France IA, Ignite Sweden, and Minc. It is part of the European AI Startup Landscape, featuring over 1000 innovative startups at the forefront of AI innovation in the continent.
“One of the biggest challenges in Europe is the struggle with AI adoption. While the USA and China are advancing rapidly, Europe lags behind despite having world-leading companies and excellent data sources for building unique solutions,” explains Philip Hutchinson, Senior AI Strategist at appliedAI Institute for Europe.
“AI startups, being agile and innovative, are crucial for enhancing innovation and accelerating AI adoption in Europe. This is why it is important to connect them with larger companies.”
Exploring Strategic Collaborations with Startups
At the European AI Startup Matchday, 16 leading corporations explored innovative AI solutions from startups that have the potential to enhance their business operations.
“We participate in this event to look for AI companies that can support Södra’s forest owners to make better decisions. We believe that AI is a tool that can help to reveal and increase the hidden values of forest management,” says Erik Madeyski Bengtson, Investment Manager at Södra Ädla.
“The event gives us the chance to meet and mingle with startups from Sweden and abroad and understand what is going on in this segment. I also think that having the opportunity to meet the startups in-person this time instead of digitally adds a lot of value.”
The event also welcomed leading industrial giants like Alfa Laval, Bouygues, Deutsche Telekom, E.ON, IBM, Pernod Ricard, Saint-Gobain, Securitas, and Vattenfall.
Opening Doors to Corporate Customers
The European AI Startup Matchday gathered 50 startups from France, Germany, and Sweden showcasing cutting-edge AI solutions across various industries.
“It is an impressive event, bringing together lots of very cool startups and corporations from across Europe,” says Dr. Jonathan Spitz, CEO of the German startup GaussML. “These events help us by opening the doors to corporations. It makes it much easier for us to start talking with big corporations because it facilitates this initial handshake and brings us together.”
Ahmed Luay, CEO and founder of the Swedish startup Viviotex, highlighted the value of in-person meetings: “Meeting corporates physically rather than digitally allows us to present our technology live, which is far more impactful than just showing it on a screen.”
SISP announces the establishment of a new subsidiary for Ignite Sweden, with Sara Hamlin assuming the role of CEO.
Swedish Incubators & Science Parks (SISP) announces the establishment of a new subsidiary for Ignite Sweden, enabling the new organization to focus on its core mission: helping startups secure their first customers in both the private and public sectors. Sara Hamlin has been appointed as CEO of the newly formed entity.
Ignite Sweden was established in 2017 by several incubators and science parks with the goal of fostering, accelerating, and streamlining commercial collaborations between startups and established companies. Since then, Ignite has expanded its remit to include partnerships with public sector entities.
In 2020, Ignite Sweden was integrated into SISP, the national association for Sweden’s incubators and science parks.
The creation of a wholly owned subsidiary represents the next phase in Ignite Sweden’s development.
“Ignite Sweden’s mission remains unchanged, and we continue to see immense value in Ignite for many of our members. That’s why we intend to maintain ownership of Ignite while providing the organization with the opportunity to further develop and expand,” says Ulrika Malmqvist, Chair of the Board at SISP.
“It is a natural progression to establish the organization as a subsidiary with its own management and board, which will include representatives from startups, large corporations, the public sector, and members of incubators and science parks within SISP.”
Sara Hamlin Steps into CEO Position
After joining Ignite Sweden in 2020, where she has since been responsible for Corporate Partnerships, Sara Hamlin will now assume the role of CEO of the newly established organization.
With a distinguished career at companies such as E.ON, Sara brings extensive experience in corporate innovation, entrepreneurship, business development, and strategic leadership.
Sara is excited to lead Ignite through this next chapter: “It is an incredible honor to step into the role of CEO for Ignite Sweden, an organization that has made a profound and lasting impact on Sweden’s innovation landscape and its startups over the years. As an independent entity, we can sharpen our focus on facilitating partnerships between startups, established corporations, and public sector organizations, working closely with our partners in the innovation ecosystem.”
“Our goal is to continue creating business opportunities that drive sustainable growth, innovation, and competitiveness for Sweden’s startups and society at large,” she adds.
As part of the restructuring, Sasan Shaba, former COO of Ignite Sweden, will assume a new role at SISP, overseeing philanthropic investments and international partnerships.
“I am very proud of what we have built at Ignite over the past few years and am now gladly handing over to Sara, with whom I have had the privilege of working closely. We will, of course, continue collaborating with Ignite, as it remains our subsidiary. At the same time, I am very much looking forward to taking on new challenges within SISP,” says Sasan.
The restructuring will take effect on October 7, 2024.
For more information, please contact:
Sara Hamlin, CEO of Ignite Sweden: sara@ignitesweden.org
Stina Lantz, CEO of SISP: stina.lantz@sisp.se
About Ignite Sweden
Ignite Sweden is a national, non-profit organization dedicated to fostering business collaborations between startups, large corporations, and the public sector. The initiative was established in 2017 by the incubators LEAD, Sting and Things and has been a part of SISP since 2020. To date, Ignite Sweden has engaged over 1,700 startups and 400 established companies and public organizations, resulting in more than 600 collaborations and business opportunities.
About Swedish Incubators & Science Parks (SISP)
SISP är en nationell branschförening för Sveriges inkubatorer och science parks. With 63 member organizations, SISP strengthens the innovation ecosystem by promoting collaboration between startups, academia, and industry.
The latest edition of Medtech Matchday gathered 150 representatives from startups, corporations, public sectors, and innovation hubs at GoCo Health Innovation City in Gothenburg.
Focusing on pioneering solutions within the medtech sector, the fourth edition of Medtech Matchday aimed to foster connections, explore potential collaborations, and discuss the global scalability of medical technology.
“It is more important than ever to support the medtech sector if we want it to keep growing and accelerate in Sweden. One way of doing this is to matchmake the big industry players with small startups to find ways to deliver better products and solutions to the market, thus creating patient value,” says Lena Strömberg, Program Director at Medtech4Health, one of the main organizations behind the event.
Facilitating Connections with Potential Customers
The event kicked off with a matchmaking session, during which nearly 60 tailored meetings took place between 11 industry leaders and public organizations, and 40 innovative medtech startups. The meetings have already resulted in 20 ongoing discussions and the signing of two NDAs.
“The Medtech Matchday aimed to bridge the gap between medtech startups and potential customers in both the public and private sectors. The objective of the meetings was to explore potential business collaboration opportunities. Each meeting underwent a curated process to ensure genuine business potential. I am delighted that our efforts have yielded such impressive outcomes in such a short timeframe,” says Shara Fägerwall Tawfik, Event & Partner Manager at Ignite Sweden and project leader for the matchmaking session.
Sting’s business coach, Olof Berglund, has been part of the organizing team for Medtech Matchday since its first edition in 2018.
“As an incubator, these events are extremely important because we really need to facilitate connections between our startups and large corporations or organizations like hospitals. Generally, it’s very difficult for startups to access the right person within these organizations,” says Olof.
Prior to these meetings, the team conducts interviews with all participating corporates to gain insight into their specific needs, objectives, and current challenges. This allows them to effectively match them with suitable startups.
“It is a lot of work, but when it works, it really fosters collaboration between these two parties,” explains Olof.
Sting is one of the nine incubators that are part of ALIS, the Association of Life Science Incubators in Sweden, which actively collaborated in the matchmaking process. The other incubators are GU Ventures, KI Innovations, LEAD, Medeon, Sahlgrenska Science Park, SmiLe, Umeå Biotech Incubator, and Uppsala Innovation Centre.
“Through ALIS, we have a vast network of startups across Sweden in various fields such as pharma, medtech, diagnostics, and biotech. They have been instrumental in collaborating on this event. They have helped in both recruiting large corporations and organizations from their regions as well as in matching their needs with their regional networks of startups. As a result, we had excellent coverage from all over Sweden thanks to their networks,” says Olof.
Startup Collaboration Key for Medtech Enterprises
The matchmaking session featured a lineup of industry leaders and public organizations, including Alfa Laval, Arjo, AstraZeneca, Bonnier Healthcare, Capio, Elekta, Johnson & Johnson, Karolinska University Hospital, Länsförsäkringar Skåne, Mölnlycke Health Care, and Wellspect HealthCare.
For the participating corporates, Medtech Matchday was a great opportunity to get in contact with startups developing groundbreaking technology.
Håkan Hagström, Front End Program Manager at Arjo, expressed the significance of nurturing partnerships with startups for his company.
“We are a relatively large company ourselves and we run our own agenda on the R&D side, but we also recognize that there are technologies and areas that we do not cover. So, we look a little bit sideways and see how new technologies can complement the more traditional technologies and solutions that we usually provide.”
It was the first time that the Swedish medical multinational participated in the Medtech Matchday.
“I think it is very important that the companies get to meet on this first informal basis without too much administrative burden regarding NDAs.”
Startups as a Fast Track to the Future
“At Karolinska University Hospital, we are thinking a lot about how to engage more with the innovation ecosystem and the startup community. We thought Medtech Matchday would be a really good opportunity to jumpstart the initiative I am engaged in called Solution Enabler Programs,” says first-timer Andreas Hager, Open Innovation System Facilitator at the world-recognized hospital.
He also explained that the university hospital’s focus is for obvious reasons primarily on the present moment, whereas startups offer a pathway to envisioning the long-term trajectory.
“Generally, when we at a frontline unit think about the future, it’s about tomorrow or even in the next 30 minutes. But now the leadership is asking: ‘We need to develop a way to think about the things we will be doing 3 or 5 years from now, who could be a speaking partner?’ And the startup community is already there, in the future. So talking to them can be a way for us to talk to the future!”
Building Trust Through In-Person Connections
One of the startups participating in the event is Re:Lab, which provides the life science industry with a circular, closed-loop chemical recycling solution for laboratory waste plastics, converting them into new plastics within a closed loop.
“A startup needs clients to create value,” says its CEO, Flavio Ortigao. “The opportunity to meet corporates at events like Medtech Matchday is excellent. It was through these contacts that we have now developed our first clients. I had an excellent meeting today.”
The face-to-face format of Medtech Matchday enhanced the connections between participants, adding value to the event. The in-person format also creates for startups avenues for networking and spontaneous conversations with companies they hadn’t been matched with.
“I only have one meeting booked, but I am also meeting people on the go here between the sessions, so I’m pretty pleased with that. I have already had one pretty good spontaneous meeting. We have actually contacted most of the other corporates who are here today and said that we will try to meet them in between meetings,” says Thomas Krotkiewski, CEO of 3ngage.
The Gothenburg-based startup enables manufacturers to create interactive digital twins of physical products. Medtech is a key area for 3ngage.
“When you are building a startup, you are doing something innovative and something people haven’t tried before. There is also an issue of trust, and it’s much easier to build that trust when you meet somebody in person. It only takes your mind seconds to figure out if the person knows what they are talking about, if they have something that is really good, or whether it is true or not. That is much easier to convey in the physical meetings,” he adds.
High Interest in Collaborating to Address Sector Challenges
In the afternoon, the event transitioned into a dynamic conference featuring expert speakers from across Europe. Discussions explored governance in innovation and collaboration in bridging healthcare needs with medtech solutions.
The first session, moderated by Lena Strömberg from Medtech4Health, delved into the effective implementation of medtech innovations. David Lowe, Director of Health Innovation at the Scottish Health and Industry Partnership, opened the discussion, followed by a panel composed of Penilla Gunther (FOKUS Patient & Patient Safety Foundation, EU), Göran Henriks (Region Jönköping), Göran Larsson (Region Västerbotten), Fredrik Koffner (Cuviva), and Cecilia Edebo (Sahlgrenska Science Park). The session also included a live Innovation Hive segment that provided many valuable suggestions to enhance the implementation of innovative medical technology.
The main takeaways from this session were to think like an investor rather than an inventor, to focus on market validation and customer adaptation, and to involve all stakeholders as early as possible.
Magda Krakowiak, Director of EIT Health Accelerator, opened up the second session around what it takes to scale up as a medtech company. Britta Stenson from Business Sweden moderated a panel discussion featuring speakers such as Anna Bergstrand (Vinnova), Fredrik Wikell (Intuitive Surgical Sárl), Hanna Sjöström (NEOLA Medical), Ana Isabel Gonzalez (Madrid Health Authority, SERMAS Madrid), Magnus Björsne (Bio Venture Hub Gothenburg) and Antony Gemmell (Johnson & Johnson).
To foster more scaleups in the next five years, speakers emphasized the vital role of stronger partnerships to ensure growth and address unmet medical needs effectively. They also highlighted the need for a national life science strategy centered on profitability and internationalization, backed up by experts from academia and leading companies.
Additionally, there was a push for increased international showcasing of Sweden and its companies, alongside efforts to strengthen talent attraction and retention domestically. Furthermore, participants emphasized the importance of globalizing Swedish companies and the life science sector as a whole, coupled with sharper funding mechanisms that prioritize quality over quantity in project funding.
According to Lena Strömberg, a key insight from the event is the widespread interest among various stakeholders to collaborate in addressing sector challenges and a mutual sense of emergency.
“Everyone recognizes the problems but also sees opportunities. I’m really thrilled to hear all the enthusiasm and engagement to be part of the solutions and collaborate together to improve patient outcomes in the long run. I’m confident that everyone left the event with at least one new contact and insight, and hopefully, a heightened sense of a nurturing community,” says Lena.
The day culminated in a joint mingle hosted by Alfa Laval, providing valuable opportunities for attendees to connect.
Medtech Matchday was jointly organized by Medtech4Health, AstraZeneca’s A.Catalyst Network, GoCo Health Innovation City, Ignite Sweden, SISP – Swedish Incubators & Science Parks, Sting, and Swedish Medtech. The event was possible thanks to the collaboration of these organizations: EIT Health Scandinavia, GU Ventures, KI Innovations, LEAD, Medeon Science Park & Incubator, Västra Götalandsregionen, Sahlgrenska Science Park, SmiLe Incubator, Umeå Biotech Incubator, and Uppsala Innovation Centre.
Ignite Sweden led a Swedish startup delegation to Seoul to foster business opportunities with local corporates and organizations.
Accompanied by the startups AlixLabs, Deversify, Hopsworks and MYVOX, our colleagues Elijah Aldana and Sara Hamlin delved deep into South Korea’s buzzing innovation ecosystem.
This was the second visit to South Korea for Elijah and Sara. Last September, they embarked on a delegation trip to the country accompanied by representatives from various Swedish incubators and science parks.
“After our visit in September, we gained invaluable contacts to support us in creating relevant opportunities for Swedish startups,” says Elijah Aldana, Project Leader Matchmaking at Ignite Sweden.
Ignite Sweden has been working with South Korean organizations for the past four years through five matchmaking sessions where Swedish startups were digitally connected with many of their leading corporations.
“Taking a group of startups to the country to explore the local ecosystem and meet corporates in person was a long time coming. After this trip in March, we can see the synergies and eagerness to collaborate with Swedish startups,” he adds.
Tackling the Barriers to Entry into the Korean Business Market
On the first day of the journey, the focus was on gaining insight into conducting business in South Korea, alongside exploring the opportunities and challenges for Swedish companies in the country.
Business Sweden provided an introduction to the Korean market and its business climate, while the Embassy of Sweden in Seoul offered a comprehensive overview of innovation in Korea. This included detailed guidance on Sweden’s strategy to enhance engagement with the Korean market, outlining what Sweden can offer and what Korean companies can bring to the table.
The startups also had the opportunity to learn from the personal experiences of Security Office, a Swedish SME within cyber security established in the country.
“In just a few days, the mental and practical barrier of entering the Korean business market was lowered, with great learnings of the culture, history, business mindset and new contacts,” says Louise Ribrant, VP of Business Development at MyVox.
Visit to South Korea’s Silicon Valley
A visit to Pangyo Techno Valley, known as South Korea’s Silicon Valley, took place on the second day of the journey. The delegation visited two government-funded initiatives: the Global Digital Innovation Network (GDIN) and the K-Startup Grand Challenge.
GDIN supports local startups in their global expansion efforts through joint venture programs, aiming to promote startup-to-startup innovations and find technological alignments for future co-developments, while K-Startup Grand Challenge is a soft landing program providing international startups with office space, local employees, coaching, and funding opportunities.
“We learned about GDIN’s Joint Venture Program and how the initiative funds and supports collaborations between startups, creating mutually beneficial opportunities. The startups also had the chance to meet OA.mg, a Swedish Edtech startup who shared their experience in the program,” says Elijah.
Exploring More Potential Collaborations within the Korean Innovation Ecosystem
The delegation program also included a visit to D.Camp, one of Seoul’s most vibrant incubators, founded by 19 financial institutions. The goal with this visit was to gain an understanding of support and incubation options offered to the startups.
The startups also attended a Google for Startups event where they had the opportunity to speak spontaneously one-and-one to the President of Google APAC, Scott Beaumont.
“Ignite offered us what is possibly the best possible outcome from a business standpoint within a week: a better understanding of the local ecosystem, a better understanding of the business potential, and most importantly, tools and partners to achieve results,” says Lex Avstreik, Head of Strategy at Hopsworks.
Connections with Korean Organizations with Potential for Collaboration
The delegation program concluded with a matchmaking session where the four startups had the chance to connect with nine Korean organizations, including corporates (Bujeon Electronics, Samsung Ventures, and LG Innotek), public organizations (Korea Core Industrial Technology Investment Association – KITIA), SMEs (PDxen, AiV, and Wiz Wing), and VCs (Big Bang Angels and AGCC).
“The degree of preparation that Ignite put into all the matchmaking meetings was world-class,” says Deversify’s CEO, Anders Murman.
Many of these meetings were continuations of conversations with corporates they had previously encountered through Ignite.
“South Korea is a highly localized country requiring long-term trust and relationships to be built over time in order to develop successful partnerships. We saw great progress in these relationships between the startups and South Korean companies and positive next steps established for Swedish startups and key actors in the local ecosystem as a result from this delegation journey,” concludes Elijah.
This delegation journey to South Korea was possible thanks to the support from Bigbang Angels, Business Sweden, the Embassy of Sweden in Seoul, and Vinnova.
Relive the two side events we hosted at the annual conference, focusing on innovation in the public sector and the Swedish Climate Startup Map.
Ignite Sweden was once again a part of Sweden Innovation Days, which took place in late March. This year’s edition of the digital conference was dedicated to innovating for resilience and making a tangible impact on our society, environment, and economy. You can rewatch the full conference here.
During the conference, we hosted two sessions together with our lead organization SISP – Swedish Incubators and Science Park. Below, you’ll find more details and the opportunity to rewatch these sessions.
Innovation in the Public Sector with Ignite Sweden
Ignite Sweden facilitates a process to engage the public sector with startups, driving innovation and discovering solutions to meet their needs and challenges.
During this session, the City of Uppsala, one of Sweden’s largest municipalities, will share insights on creating scalable approaches to foster innovation and collaboration. The speakers are Annika Remaeus (Uppsala kommun), Robin Griffiths (Mimbly), and Marit Finch-Westin (Ignite Sweden).
The Swedish Climate Startup Map
The Swedish Climate Startup Map showcases 508 startups and scaleups contributing to accelerating the green transition.
Listen to Jonas Bergqvist (Almi Invest GreenTech), Karin Ruiz (Sting), Martin Lidstrand (Trifilon), Victoria Voss Bignet (Kavli) and William Bergh (Cling Systems) discuss how the platform serves as a linchpin in the innovation ecosystem, aligning disparate efforts, facilitating meaningful collaborations, and amplifying the collective impact on environmental sustainability. Moderated by Jenny Hedén Malm (Ignite Sweden).
As part of Team Sweden Tech, Ignite Sweden joined a deeptech startup delegation in Paris for matchmaking sessions with local corporates and participation in the global conference, Hello Tomorrow.
The Swedish deeptech startups that were part of the delegation were Aligned Bio, Archeri, BL!XT, Caplyzer, Flexpenser, Fusion Group, GREEN14, IPercept, Nano Textile Solutions, Novatron Fusion Group, NoviOcean by NOVIGE AB, Nrlyze, Oxide AI, Phoenix BioPower, PokaMind, Proligreen, Rivus Batteries, Re:Lab, Yangi and Zparq.
The delegation journey kicked off with a matchmaking session where 13 of the participating startups had the chance to connect with five global enterprises including BP, LVMH, L’Oréal, Saint-Gobain, and A2A, in over 20 meetings.
This matchmaking opportunity enabled the startups not only to continue conversations with corporates they had previously met through Ignite but also with the possibility to establish new connections and explore potential synergies with new enterprises.
Showcasing Deeptech Startups at Hello Tomorrow Global Summit
The journey continued with participation in Europe’s largest deeptech event, Hello Tomorrow Global Summit. The 9th edition of the event gathered over 3,000 attendees, including deeptech founders, industry leaders, and investors.
This was the first time that Team Sweden Tech, an initiative from Vinnova, the Swedish Energy Agency, and Business Sweden, set up a booth to spotlight Swedish startups and scaleups at the event. The effort was coordinated by our lead organization SISP – Swedish Incubators & Science Parks.
During the two-day event, the startups had the chance to participate in the activities hosted at the Swedish booth, including mingling with the Swedish delegation, where they connected with corporate representatives and investors interested in learning more about the Swedish ecosystem and its deeptech startups.