High-Tech Startups Spun-off from an Entrepreneurial University in Sweden

Abstract

Chalmers University of Technology, located in Gothenburg, Sweden’s industrial center, is known as an entrepreneurial university. Leveraging regional technology seeds and business resources, Chalmers has spawned numerous high-survival, prominent spin-offs. This paper discusses the unique entrepreneurial ecosystem in the local city, distinct from Silicon Valley, using examples of “surrogate” and “non-surrogate” startups. In the “surrogate” model, typically seen among master’s level entrepreneurship program participants, student teams aim to commercialize sourced internal and external technology seeds into new products and services. In the “non-surrogate” model, postdoctoral researchers and scientists pursue business opportunities commercializing their own intellectual property. The university provides investments and incubators, while local angels, company executives and successful alumni serve as mentors to support young founders, establishing an ecosystem benefiting both startup types. With minimal foreign VC funds, these lean startups practice disciplined fundraising and conserve managerial resources. As exemplified by two life science ventures, they enlist medical specialists as technical advisors to promote novel therapies, while also licensing technologies and pursuing custom manufacturing for revenue diversification.