How Swedish Tech Succeeds Growing Globally

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Initial cross-functional team in first 24 months vital 66% had Entrepreneur’s who had has prior international success Visionaries V Entrepreneurs Entrepreneurs are the individuals who possess the capabilities to make visions happen

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• Globalisation has reduced the size of the world and increased connectivity • Development and nurturing of network seen as vital – talent, financing, partnership • Investment community see this a crucial in scaling internationally

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• National culture – both a helps and hinders internationalisation • Organisational culture – key asset in overcoming national cultural differences • An organisational culture with company values as a foundation is key

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• Never been cheaper to both build and market a new product • Low barriers to entry for all mean global competition is intense • Speed in product/market validation has never been more important

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• Hiring of non-Swedish employee within first 12 months • Use of English as company language as early as possible • Women sadly lacking from the ecosystem – when will tech industry reflects its userbase

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Process Innovation Process Core Process Offering Product/Service Service System Customer Service Delivery Channel Brand Customer Experience Finance Business Model Value Network

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• You can and should see the world as your market from Day One • Norway should not be your first foreign market • Globalisation & technological change has changed both the theory and reality

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• Competitive environment and Risk levels of owners will determine this • US exit opportunity and reality should drive internationalisation • A Nordic market leadership fallback position is an investor comfort

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• Consensus decision making must change as the company scales • Consensus which drove employee engagement in the early days leads to significant employee dissatisfaction, confusion and a lack of focus • Explicit decision making framework must be developed

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