Stockholm

Cold in Stockholm, so retreating to the Pickled Herring pub within the British Embassy as the venue for a presentation on UK creativity / technology seemed like a good option.

Whilst not a big city there is a clear sense that a full ecosystem from start up to major corporate is well established in Stockholm, attracting VC funding and creating a tangible energy and growth.

I met a range of companies, from content production services to B2C marketplaces to immersive tech, with a strong thread of online / social marketing. All very serious businesses with clear forward strategies and investment secured.

By definition their growth requires international expansion at an early stage to find a scale market, so the businesses feel very highly networked and expansive – with London previously the first location of choice due to its multinational global hub profile (c.f. Spotify).

And here the opportunity cost of Brexit becomes clear (as opposed to the actual jobs and legal foundations which are actively being moved out of UK). No matter how I articulate the underlying economic fundamentals, confidence in the UK political infrastructure has evaporated, and decisions to use the UK as a global base are now not being taken.

And whilst these stories may have been told to me in a pub, they were articulated by credible people with high growth potential – now looking elsewhere…

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