Start-ups help suppliers become more innovative

Swedish start-ups are good at attracting venture capital but not as good at doing business. At the same time, Sweden’s manufacturing industry needs to become more innovative. The solution? A matchmaking service between start-ups and suppliers: Ignite Elmia.

The manufacturing industry faces constant challenges in a global market. They can involve efficiency, environmental considerations or production issues. All of these can be difficult to solve alone. One solution is the matchmaking service Ignite Elmia, which was held at Elmia Subcontractor on Thursday.

“We normally do this with big international industrial companies. In our cooperation with Elmia, we’ve chosen to focus on the supplier chain – small and medium-size companies – which we’ve never done before,” explains Niklas Sikström from Ignite, and continues:

“Their need is greater but the challenge is time and money. The suppliers who are participating in the matchmaking are extremely positive and really perceive the possibilities involved in meeting with start-ups.”

At Ignite Elmia, 14 start-ups and five suppliers met to see how they can benefit from each other. The start-ups were primarily in tech, sensors and smart software. The obvious hope is that these meetings will lead to new projects or even business deals.

“Working with start-ups is a good way to bring new knowledge into a company. And it’s no more expensive than bringing in a technology consultant,” Sikström concludes.

Published
11/16/2018
Images
Niklas Sikström of Ignite helped to arrange Ignite Elmia.