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More venture capital does not mean more jobs

Johan Saks


14 January 2015


To read the full article in Swedish, click here. 

PA industry specialist, Johan Saks, has had a byline article published in NyTeknik. This looks at innovation, how this can be encouraged in Sweden and the role innovation has in the economy. 

Johan claims that a new culture, where young people develop ideas in their own businesses, is what is needed – and this desire for innovation needs to be stimulated throughout the country, not just Stockholm.

The article outlines how an increase in innovation is often referred to as the key to more jobs and a developed economy, and a lack of risk capital is considered to be the obstacle to getting there. However, Johan points out that this is not entirely true – a change in culture is required as well.
Johan says: “So far, the innovations Sweden has invested in have not created a significant number of jobs. What’s needed are innovative areas, such as Silicon Valley, to attract talent and investors from around the world. This is what will result in new jobs, tax revenue and growth. Moreover, modern innovative businesses do not always result in new jobs. Facebook and Google are giant companies but employ far fewer than our own Ericsson and Volvo for example." 

To achieve this culture of innovation, Johan says the government could create  dedicated areas for innovation, Swedish schools could raise their standards and university training could include entrepreneurship as part of their training. 
He concludes: “If the government manages to implement some of these reforms, Sweden can remain an innovative country. The number of small start-up companies will then grow to contribute to employment and welfare.”

Johan Saks is an industry specialist at PA Consulting Group

To read more about PA's technology and innovation heritage click here  or contact us.

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