Swedish state should focus on venture capital: report
Published: 4 Apr 10 09:34 CET | Print version
Online: http://www.thelocal.se/25894/20100404/
The Swedish state should focus on developing new investment funds for risk capital as well as seeking out international and national capital, according to a proposal from SEB bank chairman Marcus Wallenberg and IF Metall trade union chairman Stefan Löfven, among other economic experts.
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They estimate that if the Swedish state invested 5 billion kronor ($688 million) in venture capital funds it would lead to additional investment of at least double that amount.
The background for the proposal is that the many venture capital funds associated with the IT boom are no longer active, according to Wallenberg and Löfven.
There are several conditions for how the state should run such a fund - the fund's investment team should focus on Sweden to ensure that it invests in “innovative companies in Sweden” and that there is a possibility for “the possibility of high returns and a level of risk that distinguishes high-quality venture capital funds.”
The co-authors of the editorial are general director of Vinnova innovation agency Charlotte Brogren; chairman of Provider Venture Johan Hernmarck; general director of the Swedish Agency for Economic and Regional Growth (Tillväxtverket) Christina Lugnet; and the managing director of engineering academy Björn O Nilsson.
What do you think? Leave your comment below.
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I would suggest more reform to help small business's in Sweden and to allow them to grow.
Sweden has a very good technological base, which is not properly capitalised upon at present.
Also R&D needs to have 100% tax relief in Sweden. Sweden is a small economy so can not compete on scale, so must out innovatate which Sweden does very well at present.
More integration between small to medium sized business's and university research departments would really boast this economy in the long term and help to establish growth and maintain it in the long term.