Collaboration rather than competition between corporates and startups works to future proof both entities from disruption — and the potential for such integration is especially notable when looking at collaboration involving startups from Sweden and India. Sweden is known for being the frontrunner in innovation in the world, and in the last decade India has seen an unprecedented development in its innovation ecosystem. From playing a catch-up game in the post-liberalisation decades to creating genuine innovations that solve real unmet needs and disrupt categories – at scale, India has outperformed despite obvious constraints. The union between Sweden and India can bring benefits to all of those involved. It’s easy to see why corporate partnerships with start-ups make sense – startups can benefit from corporate funding, resources, and customer access, while corporates need to innovate to stay ahead of competitors and disruption, and also access new technology.
The growth in digitization over the past year has driven the need to innovate, putting even more spotlight on getting these partnerships across borders.
About Ignite Sweden
Innovation is crucial for Sweden’s economy. Establishing tighter bonds between Sweden’s vibrant startup scene and the country’s thriving, established companies has been necessary to increase the pace of innovation and economic growth. Ignite Sweden has become a success in the Swedish startup ecosystem.
Ignite Sweden is a program aimed at catalysing commercial partnerships between innovative startups and large companies. The national initiative is led by THINGS, STING, LEAD, MINC and Uminova in collaboration with SISP. Ignite is co-funded by Vinnova, Energimyndigheten and Tillväxtverket. Learn more about the program at www.ignitesweden.org.
Over the last few years, India has witnessed a steady and consistent increase in the number of active corporate start-up collaboration programs. The key driver for this increase is a growing willingness of corporates to leverage open innovation to strengthen their business and access innovative solutions by engaging with cutting-edge technology start-ups.
For Swedish startups, the Indian market and its enormous potential is an opportunity for the emergence of new customers, projects, and businesses. For Indian companies, the connection with new technologies and Swedish innovations makes it possible to increase their competitiveness and find solutions to their challenges and needs.
Sweden-India Startup Matchday
In the first edition of the Sweden-India Startup Matchday on October 12, Swedish startups with sustainable solutions for smart cities within digitalization, electrification, smart mobility and IoT have the unique chance to meet world-leading corporations established in India.
The Sweden-India Startup Matchday is co-hosted with NASSCOM – The National Association of Software and Service Companies and funded by Vinnova – Sweden’s Innovation Agency.
How to apply to the Sweden-India Startup Matchday?