1. Recent policy initiatives in Sweden
Senior Analyst Björn Falkenhall
Swedish Agency for Growth Policy Analysis

2. Main focus in Entrepreneurship policy
• Make it easier and more rewarding to run businesses by
creating a world class business environment
• Focus on improving tax incentives to start and run
enterprises and to work
- tax credit for earned income (four steps in 2007-2010)
- tax deduction for household services (2007)
- tax deduction for house repairs and maintenance (2008)
- VAT reduction for eating at restaurants (2012)
• The overall tax burden in relation to GDP has decreased
from 52 to 44 % since 1990
• Regualtory reform and simplification has high priority,
deregulation of markets and competition

3. Further entrepreneurship policies
• Ongoing public inquiry on capital taxation
- tax deduction for VC investments is under investigation
- decreased corporation tax is under consideration
• Specific programmes, which include iniatives to improve
entrepreneurship in the health care and creative
industries, and iniatives for targeted groups
• No specific programs for HGF or gazelles
• The ambition to strengthen Sweden´s entrepreneurial
performance is not translated into a specific goal for the #
of start ups or HGF´s

4. New innovation strategy of Sweden
• Prime motives:
- global challenges for society
- competitiveness and jobcreation in an increasing global
competition
- delivering public services with continued quality and
efficiency
• Embracing a broad concept
• All forms of innovation (products, services, processes,
business models and ways of organising)
• All sectors (private, public and third sector)

5. To be more specific…
• Review of the venture capital market and the role for
public actors
• Two of the largest public providers of early stage capital
will be merged
• Public procurement as a tool for encouraging innovation
• Program for developing the tourism industry
• Development of indicators for innovation

6. Further nordic collaboration
• Look at the numbers and what matters!
- Gazelles created 8 000 jobs in 2006-2009
- HGF (incl. gazelles) created 92 000 jobs
- Surviving entry created 300 000 jobs!
• The persistence of gazelles, most probably they are not
gazelles in the next period of time
• Comparable data and indicators for framework conditions
are valuable for comparisions and priorities