Stockholm Tech Arena: Showcasing Startup & Tech Scene, Lacking Business Focus!

By  Recuro
Mar 1st 2024
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2 minutes
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Last week, driven entrepreneurs and visionaries gathered at Friends Arena in Stockholm for a large-scale event that focused on the latest trends in tech and startups. It was evident from the outset when the event’s PA system and laser light show were turned on that the event was well-prepared and professionally executed. Everything from the impressive design of the exhibition areas to the packed schedule of lectures and panel discussions on one of the four stages demonstrated a high level of ambition.

Two central themes dominated the days: AI and sustainability. These topics clearly reflect the direction of the global tech scene, where companies and innovators strive not only to drive technological advancement but also to do so in a sustainable and responsible manner. Discussions about AI highlight its enormous potential to change our world, encompassing everything from automation to advanced analysis and decision-making. The event underscores Stockholm’s exciting position with a strong ecosystem in startups. From the stage, hopes were expressed to leverage the favorable starting point to build clear clusters with competence on both the company and investor side to continue to be competitive. Several entrepreneurs showcased their ideas with impressive passion and drive.

Although, during all the presentations, there was an important puzzle piece missing – the importance of thinking integratedly about the business model even in the development phase. We have left a period where it was easy to raise capital and have entered a new one where the reality is that companies must find methods to scale their businesses with less need for external capital. Certainly, there are exceptions, such as green steel and battery factories, where the capital tap still seems to be open, but for most small and medium-sized companies in the startup phase, there is a need for a greater focus on cash flow and thereby optimization. Therefore, it is no longer sufficient to talk about customer needs; it also needs to be complemented by customer willingness to pay.

Yesterday’s pitches, where product-oriented parameters dominated, have or will need to be replaced or at least complemented with more focus and more metrics linked to a well-functioning business model. Therefore, it would be very exciting if the next version of Stockholm Tech Arena allows the business model and willingness to pay to be brought into the spotlight and allowed to take up more space at next year’s event.

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