Stockholm in top 20 list for world’s best startup cities

Stockholm is, for the first time, on the list of the world’s best cities for startup companies – ranked at 14th place out of 20. SvD Näringsliv reports that the American organisation Startup Genome ranked the cities after their potential to foster startup companies. Europe has six representatives in the top 20 in this year’s report: London (#3), Tel Aviv (#6), Berlin (#7), Paris (#11), Stockholm (#14), and Amsterdam (#19).

SvD writes that there are around 8,000 startup companies in Stockholm, and the invested capital continues to break new records. The hype surrounding Stockholm is causing many to dream about being recruited to a startup that is being built from the ground up. Sigrid Magnusson Karlsson, Spotify’s first recruiter who saw the company grow from 90 to 2,000 employees in five years, sees the interest increase. “I think many people are attracted to the companies’ success and want to be a part of that success. If one is among the first employees of a company, then one can benefit from this for a long time,” she said. The Next Web writes that one of Stockholm’s greatest strengths is the outwards looking of its startup scene. As the domestic Swedish market consists of less than 10 million, it’s considered common sense to get straight into global expansion. The forward thinking of the Swedes has paid off as the startup ecosystem in Stockholm is in the top ten for the subcategories of global connectedness, funding quality, and exit values, the Next Web concludes.