Sweden
Europe · Pop. 10.6M · #13 startup ecosystem by EV
Adjacent ecosystems by EV
Startup hubs
Inside Sweden: top 3 startup hubs
Sub-national ecosystems ranked by combined enterprise value of all tracked startups headquartered there.
Startup funnel
Sweden's power-law funnel
From every VC-backed startup down to the biggest scale-ups. Conversion rates show what fraction of one tier graduate into the next. Capital figures (where shown) are total VC deployed at that stage.
Enterprise value · 2015–2025
Sweden grew 8.9× since 2015
Combined enterprise value of every tracked startup headquartered in Sweden that's still operating today, totalled by founding-year cohort.
Vs. similarly-sized ecosystems
How Sweden stacks up
Peers chosen from the same Europe cluster within ±70% of Sweden's combined EV. The scatter plots growth × current size for the wider continent — outliers in the upper-right are ecosystems compounding fastest.
Top overview
Europe ecosystems — combined view
Top ecosystems in Europe ranked by combined EV. Sweden's row is highlighted.
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | United Kingdom | $1.2T | 4.6× | 211 | $24.1B | 20K |
| 2 | France | $414.1B | 5.6× | 65 | $8.4B | 9,082 |
| 3 | Germany | $410.2B | 4.0× | 86 | $8.3B | 8,710 |
| 4 | Netherlands | $346.9B | 2.7× | 39 | $3.2B | 3,887 |
| 5 | Sweden | $286.4B | 5.5× | 56 | $3.5B | 3,215 |
| 6 | Switzerland | $214.1B | 3.5× | 47 | $4.3B | 3,003 |
| 7 | Denmark | $141.3B | 4.3× | 23 | $1.8B | 1,659 |
| 8 | Belgium | $106.3B | 7.2× | 12 | $900.8M | 1,871 |
| 9 | Ireland | $105.9B | 4.9× | 24 | $1.2B | 1,959 |
| 10 | Spain | $98.4B | 5.4× | 17 | $3.4B | 4,529 |
| 11 | Finland | $78.9B | 3.9× | 10 | $2.2B | 1,726 |
| 12 | Russia | $69.3B | 3.2× | 11 | $1.7B | 1,718 |
Patent intelligence
Sweden startup IP portfolio: 62.6K patent families
Granted patent families assigned to startups headquartered in Sweden. Aggregated across the country's hub-level filings — Bay Area, Boston, etc. roll up under the United States row, the same way Tokyo and Osaka roll up under Japan.
Premium analytics
What we don't show on this page (yet)
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