The Link, February 2021

Turning waste into value

Influencers changing the marketing industry

Wastefront and Cassandra Oil puts an end to unsustainable waste handling by extracting value from waste.

Influencer marketing experts at Cure Media, Tailify and Boostified on the ins and outs of the multi-billion pound industry.

LINK Dedicated to the Swedish-British business community since 1906

”We are slowly but surely transitioning from an e-scooter company only, to one that is truly transforming urban landscapes.”

Meet Fredrik Hjelm, Co-founder and CEO of Voi

No.354

In business with the north Mike Christopherson takes on the role as Chair for the Chamber’s new chapter in Scotland.

The LINK

ABOUT

The Swedish Chamber of Commerce for the United Kingdom is the ultimate business platform for Swedish and UK businesses. We help businesses establish, grow and develop, through our wide range of business services, matchmaking, events and programmes.

We represent some 400 businesses, from start-ups, to SMEs, unicorns and large multinational corporations, from across all sectors and industries. Founded in 1906 – by business and for business – we have connected the Swedish-British business community for over a century. Join us today, if you haven’t already.

SCC PATRONS

THE LINK ISSUE 354

FOLLOW US ON SOCIAL

Editors: Jonas Eklund, Tobias Almqvist and Anna Clark Cover photo: Voi

LinkedIn: /company/swedish-chamber-of-commercefor-the-uk Twitter: @SwedishChamber Instagram: @sccuk

NOT A MEMBER YET? Visit www.scc.org.uk or contact us on +44 (0)20 7224 8001 / info@scc.org.uk

1

LINK

DEAR MEMBER

Flying the flag for the Swedish-British relationship And so the day arrived. The transition period for Britain’s exit from the European Union and the single market officially ended at the turn of the year. The two negotiating parties agreed on new trading terms over Christmas, and businesses (mainly) greeted the new trade agreement with a sigh of relief, especially considering the potential consequences of a no-deal scenario. We are in new territory, and it will take some time for businesses to adjust to the changed trading relationship, to new regulation, and to a new set of barriers.

However, let’s remember that SwedishBritish business relations don’t just date back to the time of Sweden’s entry into the European Union and the single market – but rather Swedish businesses have a longstanding history and presence in the UK, seeing the benefit of access to this large domestic market, its financial centre in London, and its role as a global trading hub and gateway to parts of the world. This will continue. In fact, the Swedish-British relationship has created some great examples of cross-border innovation; pharmaceutical company AstraZeneca and games developer King spring to mind.

In 2021, we will do our bit to fly the flag for our unique relationship. We will be celebrating the value which Swedish business gives to the UK economy, the iconic brands and

the innovation which we are sharing with the world, and in particular those who have chosen to set up and successfully expand their businesses in the UK. Equally, we will spread the word of opportunities for Swedish start-ups and other businesses in the UK market, looking at specific sectors and different regions. We do this in partnership with our friends at the Swedish Embassy, Business Sweden and the UK’s Department for International Trade.

Our commitment in 2021 includes a continued focus along our core themes of technology, sustainability, people culture and 21st century leadership. This will be manifested through our events – whether intimate roundtables or larger summits and forums, our accelerators and capital raising programmes, the business services which we offer, and our communications platforms.

In this issue of the Link you will hear from a number of our member businesses, from a range of sectors, from bolt maker Bulten to Scotland-born Swedish bun bakers, about the maturing influencer marketing segment and the latest about the e-scooter revolution.

This and much more.

In this issue we would like to welcome our newest members AVA Stories, Biostays, Boostified, Globalization Partners, Haldor, Hästens Beds, Innovent Biologics, Kry/Livi, Pharma Way, Ridestore, Sproud and TEAL Capital to the membership.

We represent a fantastic membership, and a strong trading partnership. If you haven’t joined us already, I hope you will do so in 2021. We have an exciting agenda for this year, and would love to have you part of the journey.

This year will also bring climate change and sustainability to the top of the agenda with Britain hosting the COP26 in Scotland later in the year. To celebrate Swedish ideas around sustainability, net-zero activities and cleantech alongside our British innovators (not the least Prime Minister Johnson’s ‘Build back better’ plan), we are hosting our first Impact Summit in September, and discussing green consumerism and the UN’s sustainable development goals.

Peter Sandberg Managing Director Swedish Chamber of Commerce for the UK sandberg@scc.org.uk

SCC TEAM EVENTS AND PROGRAMMES

MEMBERSHIP AND COMMUNITY

Finance and Operations

Mathilda Börjesson, Manager

Sofia Larsen, Senior Manager

Peter McNamee, Financial Controller

Michelle Riedenfalk, Sten A. Olsson Foundation for Research and Culture Scholar Erik Adling Tufvesson

Maria Karlsson, Gull & Stellan Ljungberg Foundation Scholar Kajsa Thorselius

MARKETING AND COMMUNICATIONS

Business services

Contact us

Jonas Eklund, Manager Tobias Almqvist, Swedish Chamber of Commerce for the UK Scholar Anna Clark

Anna Crona, Manager Mahmoud Hajo, Scholarship Fund for Swedish Youth Abroad Scholar Rebecca Fransson

Swedish Chamber of Commerce for the UK Sweden House, 5 Upper Montagu Street, London W1H 2AG +44 (0)20 7224 8001, info@scc.org.uk

2

We know the Nordics by heart With more than 160 years of Nordic Private Banking experience, we understand the unique challenges you face as a Nordic national living abroad. That is why we offer financial services tailored to your international needs.

To find out more, please contact Helena Whitmore or Daniel Wikehult on +44 (0) 20 7246 4225 or privatebanking@seb.co.uk

Skandinaviska Enskilda Banken AB (publ) (SEB), London Branch sebgroup.com/privatebanking

This communication is made by Skandinaviska Enskilda Banken AB (publ), London Branch for informational purposes only. Our London Branch is available to introduce you to the SEB Private Banking network outside the United Kingdom. SEB London Branch is authorised by the Swedish Financial Supervisory Authority and subject to limited regulation by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Details about the extent of our regulation by the FCA and PRA are available from us on request.

CONTENTS THE LINK • ISSUE 354 • FEBRUARY 2021

Revolutionising the industry with fossil-free steel Investing in the company and in the future, SSAB is resetting sector standards by becoming totally fossilfree by 2045.

Pages 9-10

The family-owned hotel moving with time

GIVING BACK TO THE COMMUNITY

With a legacy as one of the best hotels in Northern Europe, Hotel Diplomat remains the home away from home for returning guests.

Håkan Winberg recieved the SCC’s Extraordinary Member Award 2020 for his longstanding support and many years of service within the Chamber’s Council and several of its Committees.

Page 25

Page 12

Adjusting to the new trading relationsip

To Sleep or not to sleep...

Giving your workday an Active twist

Federation of Small Businesses on the main obstacles for small businesses right now, and how long disruption can be expected to last.

Together with Hästens Beds and Carpe Diem Beds, we go to the bottom of why a good night’s sleep is so important to us and how to improve one’s sleep.

AJ Products is aiming to limit sedentary behaviour and put workplace wellbeing on the UK map, by giving the workday an active twist.

PAGE 8

PAGE 15

PAGEs 21-22

IN THE LINK 5 YEARS AGO “The big question on everyone’s mind is soon to be decided - is the UK remaining in or exiting the UK? On 23 June, the UK goes to vote and the outcome is still uncertain” In a two-piece chronicle Graham Bishop and Richard Tise laid out their arguments for “in” vs “out”. In June 2016, many things remained unknown as to what the future would hold for the EU and Brexit. After many long negotiations both sides have now signed a long-awaited trade deal. Let us see what the next five years hold in store.

4

LINK

FEATURE

Turning waste into value Each year, roughly 29 million metric tonnes of end-of-life tyres (ELT) reach the end of their lifespan, of which a significant proportion ends up in landfills. Between 8-12 million tons of plastic (roughly a garbage truck every minute) is similarly dumped into the sea. This represents a major cause of pollution due to the non-biodegradability of these materials. SCC members Wastefront and Cassandra Oil hope to put an end to this unsustainable waste handling by extracting value from waste using improved pyrolysis methods.

BY: TOBIAS ALMQVIST

Pyrolysis – coined from the Greek-derived morphemes ‘pyro’ (fire) and ‘lysis’ (separating) - is a form of chemical recycling where post-consumer waste is converted into valuable chemicals. It is not to be confused with incineration, in which waste material is burned once for energy recovery. Instead, it should be seen as a complementary solution to mechanical recycling where, for example, plastic waste is recycled directly into new plastic products.

In many cases, mechanical recycling is not possible due to e.g. difficulty of sorting, heavily contaminated waste or mixed materials.

Removing pollutants with pyrolysis Pyrolysis utilises thermal decomposition to break down materials at elevated temperatures in an oxygen-free environment. According to Vegard Bringsjord, CFO & Co-founder of Wastefront, they use a combination of proven technology and their own proprietary processes to convert disused tyres into useful commodities. He goes on to explain the process in detail: “By sending tyres through pyrolytic reactors with a catalyst, combustible gas is produced, in addition to a liquid hydrocarbon, carbon black and heat. The gas is circled back in to fuel the furnace and the liquid hydrocar-

Vegard Bringsjord, CFO & Co-founder of Wastefront and Carolina Carlsson, PR Manager at Cassandra Oil.

5

bons undergo a refining process as a means of improving the quality and performance. The carbon black is then washed and milled to upgrade the chemical properties, meaning it can then be used as a complement to natural rubber in the tyre production, mechanical rubber goods or as a filler for plastics. The heat is also repurposed locally within the industry or to heat residential homes. The gas purification system removes pollutants, organic compounds and harmful solid particles without releasing anything into the environment. We are producing commodities and as such our clients are primarily large companies. We have in place an offtake agreement for all of our liquid hydrocarbons (advanced fuels) with Vitol, one the largest traders in the world, and we are expecting to sell the majority of our carbon black back to the tyre manufacture industry.”

”Creating a circular economy is a big part of our long-term goal. The results of our refining process mean that our products can be reused and recycled within a large number of industries and supply chains.”

Rapid and cost-efficient waste process Traditional pyrolysis methods have been utilised for decades to break down polymer chains for oil production. However, two main issues have always remained: the cost of energy needed in the process and the uneven quality of the end products. “We have man-

aged to crack both those problems with our patented friction reactor,” Carolina Carlsson, PR Manager at Cassandra Oil, says. “It makes the waste process both rapid and cost-effective while producing oil that can substitute crude oil and of which is of high interest in the petrochemical industry.”

Applicable also on plastic Apart from tyres, Cassandra Oil has also set out to break down other materials originating from crude oil, all by using the CASO technology. The idea for the CASO technology was developed by Cassandra Oils founder, Anders Olsson, when he discovered the vast problem of oil contamination in the deserts all over the Middle East. “In many oil-producing countries, the heavy fractions of crude oil are being dumped in the environment, causing enormous damage. Anders’ initial idea was to crack this oil and to make it usable while also cleaning up the environment. As the idea evolved, he realised that if his invention could crack oil spill, the technology could possibly be applied also to break down other materials originating from crude oil,” Carolina says.

She explains that the CASO technology has developed a lot since its early days. “We focus on recycling of single-use plastics and household waste, such as plastic food packaging, which we break down into an oil that we call Circular Crude. Circular Crude can replace normal crude oil in, for example, production of new plastics.

Our unique technology can produce high-quality Circular Crude from basically anything made from oil in the first place; most types of plastics, tyres, oil-contaminated soil, polyester etc.

This is therefore of high interest to the global petrochemical companies who are looking for environmental-friendly replacements of crude oil to reduce their carbon emissions. We hold a REACH/ECHA registration for our Circular

LINK

Crude from both plastic waste and tyres. This is essential, as without this product certification the pyrolysis oil can only be handled by / sold to certified waste handlers i.e. not refineries or petrochemical companies.”

Transition to a circular economy Public environmental awareness has increased in recent decades. Due to a growing world population, in combination with a rising consumption rate, the world has come to the realisation that it’s necessary to move away from the “take, make and dispose”-attitude of today’s linear economy. Limited raw materials eventually run out and waste accumulates, which leads either to disposal expenses and/or pollution. Consequently, the idea of transitioning to a sustainable, circular economy, where the aim is to prevent waste, increase the reuse of products and recovering resources, has gained traction. Wastefront sees pyrolysis as an important tool in this transition.

“Creating a circular economy is a big part of our long-term goal. The results of our refining process mean that our products can be reused and recycled within a large number of industries and supply chains. It will have a direct impact on reducing the millions of tonnes of tyres that reach the end of their life globally each year. Primarily, we want to enable and increase the use of our products within the tyre manufacturing industry, creating a circular tyre production value chain”, Vegard says. He adds: “By converting tyre waste into usable commodities such as liquid hydrocarbons and carbon black, we are able to offset carbon emissions, where the alternative to the recycled commodities is often crude oil or unrefined petroleum; a fossil fuel which creates a significant amount of air pollution when refined down. Renewable energy and sustainability represent two sides of the same

coin and we aim to ensure that our processes positively contribute to both.

Freeing oceans from plastic and waste Cassandra Oil also hopes to become an important link in the circular economy by demonstrating a viable and economical solution for otherwise non-recyclable waste. “We would like to see a world where fossil resources are replaced by circular raw materials and where our oceans are free from plastic waste,” Carolina says. “Plastics collected from the sea can be very tricky to recycle due to the salt from the seawater, so being able to take off this waste at an earlier stage has many benefits. This problem can be solved with the CASO technology as vast amounts of waste can be dealt with on location, without any need of transportation on roads or across the sea, which also exacerbates damage to our environment in the long run,” she adds.

UK to become world-leader in green energy Green technology is in high demand and projected to rise. This is true not least in the UK, which plans to become a world leader in green energy. The UK is also implementing a new tax on plastic packaging from nonrenewable sources year 2030 which is another incentive for plastic producers to use our type of oil in their production. Both Cassandra Oil and Wastefront are optimistic about the future.

“We have been approached by well-known UK companies looking for circular solutions, including waste collection companies as well as potential customers for our end products,” Carolina says. “We currently have a plant in operation in Denmark and, thanks to a new financial partner, we are in the process of building the next generation in Västerås, Sweden, which will be ready for implementation by late spring 2021.”

FEATURE

Wastefront entered the UK market in 2020 by signing a deal with Sunderland City Council to build their first-ever plant at the Port of Sunderland. The construction of the plant is set to get underway this year with the aim to commission the plant and ramp up production 2023. “Our key focus is currently the development and construction of the plant at the Port of Sunderland,” Vegard says. “Given the city’s advantageous geographical position in the North East of England, and its industrial status and history, we quickly identified it as the perfect location for our first plant. Naturally, we also want to expand our operations as quickly and effectively as possible, so that our mission to reduce ELT waste and create a circular economy within the automotive industry can develop even more momentum.”

About Wastefront Founded in Oslo in 2019, Wastefront is a rubber waste recycling company which converts disused tyres into useful commodities, including liquid hydrocarbons and carbon black, which can then be reutilised in processes such as alternative fuel manufacturing or ground rubber production. Learn more at wastefront.com

About Cassandra Oil Cassandra Oil was established in 2011 to industrialise and commercialise a patented and scalable reactor technology for chemical recycling of hydrocarbon-based waste and production of oil, through its own business or in partnership with others. Cassandra Oil’s technology will contribute to more sustainable waste recycling and the circular economy.

Learn more at cassandraoil.com

6

TRAVELERS NEED FLEXIBILITY To help you navigate through these turbulent times, we have now introduced more flexible rebooking options. Book with flexibility, and travel now or later.

Safer than ever. Welcome up whenever you are ready.

LINK

FEATURE

Bumpy ride expected as small businesses adjust to the new trading relationship After four and a half years of uncertainty and contentious negotiations, a trade agreement governing the post-Brexit relationship between the EU and the UK was finally concluded. However, a bumpy period is to be expected as the UK is adjusting to new trading terms with Europe and vice versa. The Link asked James Sibley, Head of International Affairs at Federation of Small Businesses (FSB) about what the main obstacles for small businesses are right now, and how long disruption can be expected to last.

BY: TOBIAS ALMQVIST

What are the main obstacles for small businesses right now?

Both the volume of customs declarations and the volume of paperwork has increased.

And there’s also a lot of demand on customs intermediaries who would normally help SMEs with this kind of thing – for example freight forwarders and customs agents, who themselves are charging more for their services.

In addition to that, leaving the Customs Union has resulted in some supply chain disruption. For SMEs who normally would import a product from a third country, warehouse it in the UK, and then sell to UK and EU customers, they find now that they’ve been hit by GST both upon importing to the UK and upon exporting into the EU. There are a few ways around that, but a lot of them are out of reach of the standard SME. A lot of SMEs will be reconsidering their supply chains and logistic operations and thinking.

Thirdly, there’s the VAT. The UK, having left the single market and the VAT area, now has lost access to the distance selling thresholds that UK-based firms had access to before.

This means that SMEs might have to register in each EU Member State to which they sell goods, and that can be costly. In addition to these expenses and the administrative burden, some member states require you to appoint a fiscal VAT representative and that can also be expensive.

Lastly, lots of small businesses now have to consider how and if they can meet the Rules of Origin in the Free Trade Agreement. This is necessary if they want to export something to the EU tariff-free. The rules are complicated and present room for interpretation with the

many exceptions. The primary reason for existing is to ensure that the parties in an agreement are the only benefactors from the terms.

For example, you can’t import a product from China, store in the UK, and then export to the EU without paying any tariffs on it because that would be a backdoor.

What can businesses do to overcome these obstacles?

Some of the issues are going to be quite difficult for small firms to overcome because they affect their competitiveness and their margin.

Some will be responding to this by swallowing the costs, provided they have a margin that allows them to do so. Others will be looking to adjust their supply chain, e.g. registering companies in the EU or adjusting how they distribute their products.

For many small businesses, however, these kinds of measures will be too much of a cost, and some won’t be able to continue exporting in the same way if this continues. In terms of getting over the barriers, some of it is about just getting used to the rules. We’ve had the biggest change to the trading relationship with the EU and the rest of the world in half a century, and it has happened almost overnight. I think many small firms will get used to the changes, but it’s a big challenge and it shouldn’t be underestimated.

warehouse in Northern Ireland, you would have access to Great Britain that you would not have if you were based in the EU, and able to have access to the EU in a way you would not have if you’re based in Great Britain.

How long do you think the disruption will go on for?

What we’re seeing right now is a massive change that affects all elements of the economy, with a lot of different sectors getting used to the new rules. Currently, lots of companies particularly goods exporters – have deliberately avoided issues by stockpiling.

I believe we will have levels of disruption at various points throughout 2021, which will decrease as companies get used to the changes or adjust their operations in response, but it’s hard to say exactly how long that will take. One thing to note is that there are currently a few easements and exemptions in place. For instance, the UK is not subjecting imports to the full range of border checks.

After that changes by the end of June 2021 you can probably expect some disruption from companies that are still not used to the new arrangements.

What is not changing under the new trade agreement?

Very little remains the same. There are some things, for instance, that relate to the trade with Northern Ireland that remains the same, because Northern Ireland remains in the single market for goods and agricultural products and applies rules of the Union customs code.

Northern Ireland is in a quite good position, having the best of both worlds once some of this settles in. If you, for instance, have a

Visit the SCC's Brexit portal for more information and updates With the new trade deal between the UK and the EU, businesses need to adjust to the new trading relationship and regulations. Visit the SCC Brexit portal for more information, useful links to resources and upcoming Brexit related events. The portal is continuously updated with the latest developments and changes to the trade relationship: scc.org.uk/about/brexit

8

LINK

PATRONS HIGHLIGHT

Revolutionising the industry with fossil-free steel Steel is the foundation for the modern way of living and can be found in virtually everything from buildings and ships, to cars and refrigerators. With steel production from iron ore amounting to more than one billion tonnes per year globally, and with the projected steel consumption per capita growing, the industry currently accounts for about 7% of the global CO2 emissions every year. To turn this trend, SCC patron and global steel company SSAB has vowed to become totally fossil-free by 2045. “When we announced our targets, many of our steel colleagues in the industry were thinking ‘these guys must be crazy’. But now we see that this is the best way to go,” says Martin Pei, Executive Vice President and CTO at SSAB. BY: JONAS EKLUND

The history of SCC patron and highly specialised global steel company SSAB dates back to 1873 when Domnavarvet Ironworks became operational in Borlänge, Sweden. Along came Oxelösunds Järnverk in 1913 and the Norrbottens Järnverk in Luleå in the 1940’s, but it wasn’t until 1978 that the three companies were consolidated and the SSAB that we know today was born. “The three companies were all struggling in the wake of the 1970s oil crisis as the shipyards were closed down on the Swedish west coast,“ says Martin Pei, Executive Vice President and CTO at SSAB. “The companies were merged, facilitated by the Swedish government, and SSAB Svenskt Stål AB was formed with the government as the main owner.”

Martin Pei, Executive Vice President and CTO at SSAB. Photo: SSAB.

9

Modernising the company The company was restructured, several production units were closed down and then in 1987, the company was partly privatised and put on the stock exchange.

“We took the step that many of our European peers still have not done today, by restructur-

ing and significantly shrinking the structure and modernising the company,” Martin says and explains that in the process of shutting down non-profitable units and focusing on high strength and wear-resistant flat products, a number of competitive business areas were created that are still today the foundation of the company. Today, SSAB is the largest steel company in Sweden and in the Nordic countries, specialising in high-strength and lightweight steel with production plants in Sweden, Finland and in the US. Fossil-free by 2045 The changes in the company resulted in several environmental benefits that at the time were unheard of in the steel industry. “If you think about Sweden and the Nordic countries as a region, we are a rather small steel market, so our production mostly goes for export. Shipping steel and storing inventory is very costly as it is a quite heavy business to run. We were forced to work with high value-added products that really provided environmental benefits for our customers.” According to Martin, these changes have laid the foundation of making SSAB the most suitable company to take the bold step to declare a fossil-free production system by 2045. “When we announced our targets, many of our steel colleagues in the industry were thinking ‘these guys must be crazy’. But now we see that this is the best way to go.”

”Shipping steel and storing inventory is very costly as it is a quite heavy business to run. We were forced to work with high valueadded products that really provided environmental benefits for our customers.”

Replacing coal with hydrogen To reach these ambitious targets, SSAB teamed up with Swedish mining company LKAB and SCC patron and power company Vattenfall back in 2016, and created HYBRIT – an initiative that intends to revolutionise the steel industry. The Swedish Energy Agency is providing funding support of the initiative, while the owners contribute the remaining costs in equal shares. By replacing coking coal, traditionally needed for ore-based steelmaking, with fossil-free electricity and hydrogen, the result will be the world’s first fossil-free steelmaking technology with virtually no carbon footprint.

LINK

PATRONS HIGHLIGHT

SSAB’s HYBRIT pilot plant in Luleå, Sweden. Photo: SSAB.

“Making steel dates back more than 1000 years, and the material is today the foundation for the modern way of living. The process that has enabled this huge industrialisation is built on using coal as a reducing agent to take away oxygen, which is combined with iron in iron ore, so that we can make steel. That leads to the root cause for a significant amount of CO2 emissions in the industry today, which currently accounts for about 7% of global emissions every year.”

Even though steel is a recyclable material, reusing scrapped metal from used cars and refrigerators is not enough to make sustainable impact. “Steel production from iron ore accounts for more than one billion tonnes per year globally and that will not change for many years, because steel consumption per capita is still projected to grow.”

According to Martin, hydrogen is the most realistic option to replace coal: “There are research groups studying electrolysis of iron ore or directly using electricity to separate iron from oxygen. But a lot of research and development remains to be done before it can be scaled up to produce a billion tonnes per year. We believe that using green hydrogen will be the best technology for the foreseeable future. We are investing a lot and now we see that many other steel companies are starting to also make huge efforts to move in this direction.”

Scaling up the technology In 2018, the construction of a pilot plant using the HYBRIT technology started at SSAB’s site in Luleå, but there are still a number of years of development remaining before the technology can be rolled out at scale. “The major step from a technical perspective is to prove that it works at a larger scale. To do this chemical reaction in a laboratory is rather simple. It has been known since decades back, but no one has managed to make this work at a commercial scale. This is what we want to do with HYBRIT.”

“In 2025, we are planning to shut down and replace the two blast furnaces in our plant in Oxelösund with an electric arc furnace, and we want to build a new HYBRIT facility in the northern part of Sweden with a capacity of one million tonnes per year. This type of production facility needs to run stable and smoothly 24/7 year-round, which is really the challenge because we can’t afford instability in the facility.”

”Steel production from iron ore accounts for more than one billion tonnes per year globally and that will not change for many years, because steel consumption per capita is still projected to grow.”

Significant investment The project itself is quite a significant investment. At the moment, the team is busy creating a case to secure financial support for the project and connecting with customers who are willing to pay a certain premium to cover costs of the production setup. “Initially the production will be more costly than steel that is made today using blast furnaces. We are working with the Swedish government and the European Union, but we need to have customers that are incentivised to support such a project.”

Speed is crucial Many steel companies have shown interest in joining in on the efforts. But in order to keep

up the pace in the development, Martin says that they will take the first steps themselves, before they are ready to share the technology with others. And speed is crucial to the project.

“This huge transformation needs to be done over the whole value chain. Blast furnaces are run 24/7 year-round, and normally, there is a major rehaul every 15 years. If you stop for two months for maintenance, it costs hundreds of millions of SEK each time. If we can show that our HYBRIT initiative works, other companies can start planning for their next big rehaul now.” Also, looking at the UN net-zero emission goals, there is only one, maximum two reinvestment cycles to catch. “If you wait another 15 years, it will be too late. That’s also an interesting aspect of the urgency for this industry to plan strategically.”

Paying for fossil-free steel The challenge going forward is to cover the initial production costs and to get production up to scale. Apart from policy support, the project needs the support of its customers to sign off-take agreements. “We are currently in discussions with a number of customers and fortunately we have great customers in Sweden that are leading sustainability champions,” Martin says regarding their willingness to pay a premium for the fossil-free steel. “But steel is a widely traded material in the world. If customers can buy cheaper steel from say Russia or Ukraine, it might be difficult for them to accept the premium. I think this will be a very important matter to solve going forward.”

THE PATRONSHIP The SCC patronship consists of a core group of SCC member businesses committed to supporting the Swedish-British business community. The patronship comes with a range of benefits – if you would like to know more, please contact membership@scc.org.uk.

10

OUR WAY OF THINKING PROTECTS YOUR WAY OF LIFE Saab is a global defence and security company, present on all five continents.

We are global and international, but remain rooted in Swedish values of trust, reliability, innovation and loyalty. Saab has been active in the UK for over 40 years, delivering advanced defence and security solutions to British Armed Forces and the Emergency Services. This strong relationship has not only improved British defence capabilities, but has also strengthened both Swedish and UK economies, whilst keeping our people and society safe. www.saab.com/uk

LINK

FEATURE

Giving back to the community Håkan Winberg is no stranger to the Swedish-British business community. Since moving to the UK in 1999, when Securitas opened its UK headquarters in London, Håkan has been an active member of the community. In December 2020, he was presented with the SCC’s Extraordinary Member Award for his longstanding support and many years of service within the Chamber’s Council and several of its Committees. “For the community to continue to grow, one of the most important things is for people to continue giving and sharing, whether it is their time, energy or ideas,” says Håkan.

BY: JONAS EKLUND

“I feel both honoured and happy at the same time,” Håkan says about receiving the award, as he recalls joining the Chamber’s Council back in 2006 during his Securitas days. “I have a collection of fond memories of the SCC, whether it’s an event that I have attended, a trip that we made together, working with the board members in the Chamber, or meeting inspiring students through the University of Lund Scholarship.”

Doing business in the UK Håkan has more than 20 years of experience working for Securitas as CFO and later as Vice President. His relation to the Swedish-British business community started back in 1999 when Securitas opened its UK headquarters in London. “This is when my family and I moved to London. We stayed for 19 years.” At the time, Securitas had just bought the three largest security companies in the US, and was a listed company with a large shareholder base in the UK. “I have always had a very good relation and feeling about being in the UK doing business. The business community and the financial markets in London were very much part of my professional life with Securitas, as well as my personal life with our kids in school.”

Value-driven foundation One of the many things Håkan learned during his time at Securitas was the importance of having a value-driven foundation in the company. This is what he brought with him as he and his long-term business partner Thomas Berglund got involved in the Indian security company SIS back in 2007. “We realised that we have the same views on values and business as the Indian founders. I truly believe that values show the way and then the financial results will follow. The company is now listed on the BSE (former Bombay Stock Exchange).”

In 2008, Håkan joined Capio, one of Europe’s leading healthcare companies, as Vice President. “I learned how important it is in healthcare to also understand the financial consequences if you are to succeed. Being aware means better quality and more healthcare for less money.”

Giving back to the community Getting involved and giving back to the community has always been important for Håkan, which led him to start the Lund University Scholarship, with his donations enabling young talents to join the Chamber to gain international experience. “It’s great to be able to help

Byline

Håkan Winberg was presented with the SCC’s Extraordinary Member Award in December 2020.

out students and for more of them to have the opportunity to come to London and work for the Chamber for a year. The community has given a lot to me, and it felt right at the time to start the Lund University Scholarship. For the community to continue to grow, one of the most important things is for people to continue giving and sharing, whether it is their time, energy or ideas.”

Diverse and content-driven product Looking back at the years being involved in the Swedish-British community, he sees it becoming more professional and business-driven over time. “I think the Chamber has actively developed a much more diverse and content-driven product for the business community to meet this change. The Chairman Jan Olsson and Managing Director Peter Sandberg, together with the board, is really on the way to take this development further with interesting events and professional services.”

Bringing the Swedish-British business communities together Håkan believes there will be a continuous and even a growing demand for the Chamber’s services going forward, especially now that the UK has left the EU. “There will be a need for

networking, education and expert services on topics bringing the Swedish-British communities together – not apart. I hope that the social element of the events will continue to have its place at the Chamber – and maybe with a little help from its friends.”

About the Extraordinary Member Award The Extraordinary Member Award is presented annually to formally acknowledge and recognise individual support and contribution to the Chamber’s mission and work by Members of the Swedish Chamber of Commerce for the UK. Håkan received the award in 2020 for his “many years of service within the Council, its Executive, Finance and Nomination Committees, and his generous donations behind the Lund University Scholarship to the SCC for a number of years. In addition, he continues to support and sponsor the events programme, and is continually a mentor to its young professionals”. He is the third recipient of the award, following Count Bertil Bernadotte in 2019 and Dr Anders Wall who received the first award in 2018.

12

LINK

FEATURE

No longer just a buzzword: Influencers changing the marketing industry

In just a few years, influencer marketing has gone from a mere buzzword to an established form of online marketing. Companies are devoting more time and money to reach their target groups through the help of so-called influencers. But what exactly is an influencer, and why has the marketing strategy proven to be so effective? The Link asked SCC members and influencer marketing experts at Cure Media, Tailify and Boostified about the ins and outs of this growing multi-billion pound industry.

BY: TOBIAS ALMQVIST

In short, influencer marketing is a marketing method that helps companies to stand out from the media noise and reach their target groups more efficiently by using influencers.

“At the core, it’s built on the premise that people trust people. We look for people who share our values, interests and aspirations. We use them to filter out noise, and as a source for inspiration, entertainment and value,“ Fredrik Martini Andersson, Co-Founder at Tailify explains.

“An influencer is basically a person who has the ability to influence another person. Social media influencers are individuals who have established a platform of followers with whom he or she shares his or her life and opinions, inspires in different ways, and who also can talk about products and services. However, you don’t have to have thousands or millions of followers in order to influence someone else. We usually say that anyone can be an influencer as long as you have the ability to influence another person and that’s something most people do every day”, Sanna Ödmark, Head of Marketing at Cure Media says.

Imad Ibrahim, CEO and Co-founder of Boostified agrees: “Many people have a perception of an influencer as someone who has a large following on social media and works full time promoting stuff in their channels. But we are all influencers because we all have the ability to influence people around us. It’s also important to add that the definition of influencer varies depending on who you ask, and it has also changed in the past few years. Today, an individual with a relatively small following may get compensated for promoting a product.”

An industry yet to see its full potential “Being able to say something that affects another person is in the heart of marketing. That’s

13

always what you want to achieve as a brand or as a marketer, and there are many studies showing that we feel more trust when hearing something from another individual than when we hear a brand say something, e.g. in an ad. Whenever a consumer is considering buying something, it’s usually their friends or family that they turn to for advice. What has happened now on social media is that this peer-to-peer method has increased in scale and evolved from just involving recommendations from friends and family to also include influencers that we follow on social channels and which we feel we have a relationship to, even though we might not even know them,” Sanna says.

”We look for people who share our values, interests and aspirations. We use them to filter out noise, and as a source for inspiration, entertainment and value. ” Although influencer marketing is seeing tremendous growth, the industry is yet to see its full potential according to Fredrik: “I would say that influencer marketing hasn’t become as popular as it should – yet. I believe that is because most brands don’t understand it yet, and when you don’t understand it, it becomes risky and you’ll be more likely to fail. It’s easier to just stick with the traditional and the comfortable.”

Cutting through the media noise All three seem to agree on the strengths of the industry’s rapid growth. “In contrast to other marketing methods, influencer marketing is based on personal relationships. Most mediums build business models around hijacking attention. Influence is about providing value to people, through voices they trust, in the context of marketing. In the end, this means increasing brand loyalty and brand preference by connecting deeply with people and their interests, values and aspirations. A person that is influential to you can change your opinion or behaviour in a matter of seconds. Ask yourself if a TV commercial can do that,” Fredrik says.

“Social media is full of advertising and it’s very hard to cut through the media noise. Influencer marketing is an effective method of doing just that because of its ability to build credibility and trust with target groups. Even if an influencer post on social media is marked as an advert, a loyal follower will not perceive it as such if the influencer is considered credible,” Imad says.

Sanna agrees: “The average, western consumer is exposed to thousands of commercial messages every day, so it takes a lot for a brand to reach through the noise. People are also very tired of traditional advertising, not least because it’s often perceived as disruptive and interrupts us from what we really want to do. The greatest strength of influencer marketing is its power to build credibility and trust with target groups and create relationships something which is very difficult to create with traditional channels.”

Fewer followers sometimes more effective A big change the industry has seen over the past few years is the realisation that cooperating with influencers with a relatively low

LINK

FEATURE

Fredrik Martini Andersson, Co-Founder at Tailify, Sanna Ödmark, Head of Marketing at Cure Media and Imad Ibrahim, CEO and Co-founder of Boostified with colleague.

number of followers has its advantages. “The fact that micro-influencers have fewer followers means that they often have a stronger bond and a closer relationship to them. This makes the micro-influencer more relatable than e.g. a celebrity influencer with millions of followers and who often live completely different lives from that of their followers. In contrast to a celebrity influencer, who won’t be able to respond to the comments of perhaps several million followers, a micro-influencer may engage in a dialogue with its followers. Another strength of micro-influencers is that they are often more niched in a specific area and have followers who share that interest which means that a company who gets that influencer to promote its brand on the channel will reach its target group with a credible message,” Sanna says.

“It’s about driving human behaviour, and sometimes an influencer with 50,000 followers can do that better than someone with 750,000 followers, and vice versa. Selecting an influencer is much more complicated than the size of someone’s following. You need to use data science and psychology to find the right ones,” Fredrik says.

A clear purpose is absolutely necessary In order to get the most out of influencer marketing, it’s clear that companies first need to know exactly what they want to get out of it. Sanna explains: “Before you start working with influencers, it is absolutely necessary that you have a clear purpose why you’re doing it.

How should it fit in with your other channels?

Who is your target group and what influencers do these people follow? Is influencer marketing the best way to reach it? You also have to make sure the followers you’re planning to target are real, loyal followers, and not just bought followers, trolls or whatever it may be.”

“I usually say that most companies can work with influencer marketing, but you have to adapt the strategy depending on what kind of product and target group you have. Of course, it is easier to start working with influence marketing if your target group is largely on social media,” Sanna says.

Imad agrees: “Many brands make the mistake of deciding what influencers they want to work with before doing any research. Instead, you should be looking at what influencers your target group is actually following. It’s also important for companies to think more longterm about what they want to achieve with influencer marketing. Do you want to increase brand awareness or generate sales? In case you want to increase brand awareness, for instance, you will achieve a lot by working with a large number of micro-influencers because you will get a very large spread.”

A changing industry As influencer marketing has become an established channel, with larger budgets being invested in it, it has also become more important to measure and demonstrate ROI. Imad explains: “It’s not the wild wild west that it used to be. More complex and sophisticated methods are used. Most influencers also take their niche more seriously and are more prudent about what products they choose to promote,” Imad says. Fredrik agrees: “It has become more sophisticated and less risky.

Brands have access to more data and are protected by legal contracts.”

“One of the biggest changes in recent years is that it’s getting more common for brands to work more long-term and always-on with influencer marketing, rather than making a campaign 1-2 times per year. Another change is that it has become more results- and data-driven. Just a few years ago, it wasn’t uncommon for brands to do campaigns with influencers without even examining whether they would actually reach their target group,” Sanna says.

The future of influencer marketing A huge opportunity that applies to the entire influencer marketing-industry is the digital shift that is taking place in all of society. “We are becoming more and more digital. People, as well as companies, are moving from traditional channels such as linear TV to digital channels and social media, so our industry is becom-

ing even more relevant. Since it is such a new channel for many, however, it’s a challenge to make companies understand how influencer marketing should fit into their marketing, how to measure the result, when and why it’s better than other channels in some areas,” Sanna says.

Imad agrees and continues: “Our own personal challenge is to get prospective clients to understand what we have to offer without labelling our service as influencer marketing.

We want companies to understand that our service may differ from their perception of influencer marketing. In contrast to what some companies believe, a large following is not a requirement to join us. It’s up to the companies to decide who they want to work with – how many followers they consider sufficient.“ “In the next few years, Influencer marketing will become much more intelligent, and the brands that try to understand the data and psychology behind influence will be the major winners. I also believe we will see more brands launching campaigns built completely around influencers who can represent the brand’s values and their voice, and who can be their ears and eyes against the people that matter – their customers. I also think more influencers will launch their own brands. We’ve seen brands like Kylie Cosmetics completely exploding. Many influencers already have their own brand, and they know exactly what their followers want,” Fredrik says.

The Influencer marketing industry in stats The influencer marketing industry is estimated to be worth up to £11 bn by 2022, compared to £6 bn in 2019, according to Business Insider.

While most platforms do attract influencers, Instagram is the single platform that stands out with the most marketing investments being made.

14

LINK

FEATURE

To sleep or not to sleep...

Focusing on your health and well-being has never been a greater topic than in these stressful yet restless times.

To exercise, to eat healthy and not to spend too many hours on your phone. The list grows long. With oh-so-many habits to adhere to, one item stands out but is still taken for granted by so many. Sleeping. Together with two SCC members, Hästens Beds and Carpe Diem Beds, we unveil why a good night’s sleep is so important to us, the health effects and what can be done to improve one’s sleep.

BY: ANNA CLARK

Sleep is vital for us humans to function properly. With the mission to create the best condition for a good night’s sleep, bedmakers Hästen Beds and Carpe Diem Beds are challenging the industry with the craftsmanship of handmade beds made of natural materials.

Global Retail Director at Hastens, Sara DiCarlo, dives right into the subject: “A good night’s sleep is not waking up in the middle of the night. It’s about ideally waking up on your back and about feeling rested, so when your alarm clock goes off, you can get up in the morning.

It’s about having fewer aches and pains and not solely relying on the coffee at 4 pm. It’s almost about being a better version of yourself”.

a good night’s sleep; a cool-tempered room, avoid eating three hours before sleep and switch off from all screens at least an hour before bedtime. “Bad sleeping habits interfere with the circadian rhythm, the internal process that regulates the sleep-wake cycle that repeats every 24 hours, and indicates to the body and mind that something is wrong.” To create harmony, keep your bedroom activities to the bedroom and don’t make it your living room. So, what can you do? Exercise on a regular basis, grab some sunlight when possible and have a balanced diet with a moderate intake of caffeine. And of course, having the right bed fitted for you.

Sleeping as an investment Most people believe a firm mattress will do the trick, but Sara disagrees. Many suffer from back pain or aches as a result of a badly fitted bed. “If you think about the force and amount of weight that you’re putting on your shoulder by sleeping on the hard bed, and what it can do over time and to your posture, versus sleeping in something where your shoulder is pressed into the softness of the bed. Then technically, you don’t even need a pillow or at least a very thin pillow. The whole spine alignment is then totally changed, you’re getting more oxygen up to your brain, and your body is in a more relaxed position, you’re moving less at night. ”In short, a sound bed is something you sleep in, not on.”

Luxury item or a Swedish essential Sleeping is an experience and a personal one.

Established in 1995, Carpe Diem originates from an epiphany by chiropractor and founder Börje Thuleskar, as he was laying relaxing on a bed of heather on the sunny west coast of Sweden. Aesthetics meets comfort with Carpe Diem’s hypoallergenic materials such as slow-growing Swedish pine, natural latex, organic cotton and wool. Dana emphasises the conscious choices of high-quality materials and how Carpe Diem embodies a good night’s sleep. “I believe it’s the combination of honouring the tradition and heritage of our brand, whilst also constantly innovating and investing in research and development to bring the best sleeping experience to our customers”.

A good night’s sleep is vital for a wholesome lifestyle. Carpe Diem’s Dana Grinberga, Sales Associate and Sanjay Verma, In-house sleep expert, sets the scene and prerequisites of

With 20 years’ presence in the UK, Hästens has a reputation sprung from a rich history dating back to 1852. Originally founded as a saddlery, Hästens naturally progressed into

mattress and bed-making as the automobile industry took off. The company purpose changed, but the craft and the quality product remained the same. With love for natural materials, Hästens is an ambassador for sleep in a world and time where sleeping is sometimes undervalued. Having a good night’s sleep has a massive impact on your mental health, concentration, decision-making and optimum performance. “We want to make sure that we have as many people as possible sleeping in a Hästens bed, but foremost have people truly understand the value of sleep because that’s when we’re saving lives. If people are having problems due to their bed, and the quality of their sleep and we’ve educated them, and they’ve changed, then I think we’ve done a great job.”

Advocates for sleep No one will come out of this pandemic unaffected, but the trick is to turn the challenge into an opportunity. Hästens is stretching its neck to look far ahead, ensuring they keep their mission making as many people as possible happy and healthy. If you sleep longer, the body will recover longer, and you will have a better sleep quality. Sanjay Verma, sleeping expert at Carpe Diem, paints the picture: “We can measure sleep differently, and we can define it differently. But it’s like a car, we take our car for servicing once a year, right? But our human body and brain are designed to get this service done every night. So during the 7-9 hours of sleep you have, the damaged cells are repaired, new cells are generated, memories are consolidated. All those things happen so that you are ready for the next day”.

Both Hästens Beds and Carpe Diem Beds are known for guaranteeing a good night’s sleep.

Photos: Hästens Beds and Carpe Diem Beds.

15

LINK

FEATURE

More than screws and bolts The Swedish company Bulten (The Bolt) was founded already in 1873 and is today operating worldwide with 1,700 employees. The headquarter is located in Gothenburg, Sweden and the company boasts customers such as Jaguar Land Rover, Volvo and Ford. Bulten’s offering extends from a wide range of standard products to bespoke fasteners manufactured to the customer’s specific needs. But it is by far much more than a screw and bolt that meets the eye.

Constantly reinventing company practice and improving new ways of logistics creates further efficiency and value to the customer. The Link caught up with Simon Lee, VP Material Planning & Logistics to learn a little bit about their history, journey so far and the way forward.

BY: ANNA CLARK

It all started with a bolt factory in Halstahammar just outside of Stockholm, Sweden.

Some 150 years later, Bulten has grown into a full-service provider to the automotive industry worldwide, providing all the fasteners used by car companies in the production of vehicles to Europe, China, and Russia and the US. Bulten was first established in the UK in 1983 and was initially based in Helensburgh, just outside Glasgow in Scotland. At that time, the goods were shipped from Sweden into a port in Scunthorpe, northeast of the UK. In 1999, the warehouse in Scunthorpe turned into the operational headquarters/main site/distribution centre in the UK with a turnover of over £8 mn a year. In 2019, Bulten Ltd achieved a turnover of €140 mn. With significant growth over the past 20 years, Bulten has opened a number of local warehouses around the UK with line feed services for automotive customers, as well as sales and engineering teams who manage the relationships with UK based customers.

Full-service provider Initially, the company was only supplying screws and bolts, but in the mid-2000s, Bulten moved into the FSP (full-service provider) business. Rather than just providing their manufactured parts, it started purchasing its components as well. “We have hundreds of suppliers throughout the world, mainly in Europe. But approximately 50% plus of our portfolio is now purchased parts.” As an FSP, Bulten provides all the fasteners used by car companies to produce vehicles, a single-vehicle demands over 2,000 parts, which means a huge supply and a significant milestone for the company.

Keeping things real Although there are several contributing components to Bulten’s prosperous journey through time, there is a straightforward answer, according to Simon. “We supply to customers’ design. So pretty much every part is unique to that customer.” Understanding the customers’ needs, catering to industry-leading quality performance and not solely striving towards achieving a low price is Bulten’s recipe for success.

Another vital part, shaped by Bulten’s engineering skills, is reviewing and improving the manufacturing process. “We don’t just look at

how we can improve our products, but we’re also looking at the whole joint that the bolt is used in. And it may be that we offer a more expensive part, but it gives you a much more efficient way of manufacturing and gives a reduction in the entire manufacturing process cost. So we build a lot of our success on that whilst working with our customers to actually develop new processes and new ways of working.” This is what sets Bulten apart from the competition; providing both inhouse manufacturing and FSP logistic solutions, “the unique selling point” Simon adds.

Sustainably Swedish Although a global footprint, the Swedish philosophy on delivering on agreements and not over-promising runs throughout the organisation. At Bulten, performance speaks for itself.

“The Swedish way of developing the company has allowed us to have the time to grow those relationships rather than just chasing growth over and over and overstretching ourselves.

And the culture of the company has allowed us to nurture relationships with customers and grow through mutually beneficial relationships.” Simon highlights that the Swedish way of doing things is also Bulten’s way of doing things.

Sustainability is a key driver in the automotive industry at the moment and at the forefront of what Bulten’s strategic planning is trying to achieve. Apart from sustainable products, Bulten has also implemented solar farms at the Scunthorpe warehouse, and at the production unit in Poland. Another vital measure the company is taking is bringing as many processes in-house as possible to reduce the miles travelled by each part. The manufacturing unit in Sweden is run on 100% renewable energy source, making it one of the greenest units and furthers the power generation philosophy in Sweden.

Getting practical, Bulten is focused on CO2 emissions and how they can help their automotive customers to improve. “What they’re being measured on now is the total CO2 emitted during the manufacturing use and scrapping of the vehicles, but also all the parts on those vehicles. So we’re currently launching a product called BUFOe, which is aimed at significantly reducing the CO2 emissions of

manufacturing of bolts, so we can reduce the lifetime CO2 emissions of our parts significantly for the customers, which is one of the major issues all automotive manufacturers have at the moment.”

Simon Lee, VP Material Planning

Putting innova& Logistics at Bulten.

Photo: Bulten. tion to the test In the short-run, the two primary logistical challenges clouding the sky for Bulten Ltd are Brexit and Covid.

With customs clearance taking longer than normal, Covid testing at the borders and transportation taking its strain on capacity, more questions are asked than answered. But the more prominent and important subject in the long-run is the automotive industry’s adjustments to sustainability. The industry is changing rapidly at the moment and will prove challenging over the years to come. Electrification and reduction of lifecycle emissions are presenting several challenges to the industry.

Still, Bulten is concentrating on the opportunities, with a focus on cutting-edge and sustainable solutions. Changing away from combustion engines towards electrification will put innovation to the test as commonly used parts won’t fit in an electric vehicle the same way.

Not only will the parts in itself have to change significantly, but also the way Bulten provides them to the market. ”A lot of challenges ahead, but we also see it as opening up new markets and new ways of doing things. So whilst it’s challenging, it’s an exciting time as well.”

About Bulten Bulten is a supplier of metallic fasteners and related services, with an extended offering also including technical development, material and production know-how, logistics solutions as well as full FSP concepts. Learn more at bulten.com

16

LINK

MADE IN SCOTLAND

INTRODUCING THE NEW SCOTLAND CHAPTER:

In business with the North 2021 will be the year of many things. For Mike Christopherson, it will be the year of taking on the position as Chapter Chair for the Swedish Chamber of Commerce in Scotland. The Scottish chapter will be the fifth addition to the SCC’s chapters in the UK and will serve as a link to fellow Northern businesses. Mike navigates throughout Edinburgh’s business life as Boda Bar’s owner, a beloved bar around Edinburgh, with an ear to the ground and a finger on the pulse. The Link had a chat with Mike on Scotland as a business region, his journey to Edinburgh and the many similarities between Scotland and Sweden.

BY: ANNA CLARK

What started as a two-week break for Mike Christopherson ended up becoming his home and business hub 16 years later. In general opinion, the UK is known for its pub scene, but Mike identified an opportunity sprung from a disproportionate gender balance. The idea, a coffee shop but like a pub. Edinburgh’s traditional pubs often came across as rough with windows barred up, and if you were a woman and entered, you could be sure of verbal provocation. Making sure that everyone can enjoy a safe and comfortable environment seems like a trivial and given fact, but the first Boda Bar’s opening was met with disbelief. “A small pub came up on the market on Leith walk, similar to what Södermalm in Stockholm used to be a long time ago, sort of a working-class area.”

Mike convinced his partner Anna, together with his team to open a Swedish coffee shop with a target to include at least 50% women as their clientele.

Creating something extraordinary “That was one of the core ideas. People said in the beginning, ‘it won’t work’, and it was a bit tough the first two, three weeks, but after that, we had queues outside. Because the demand was there.” As the business took off, Mike reached out to different suppliers to provide him with the best tech in the industry and requested a crash course to get to know the backend of things. If the suppliers wanted to be in on the boom, they had to deliver and provide the best people. Mike’s way of reading the market was an interpretation of his own adolescence.

“When I grew up in Stockholm, I was hanging out in coffee shops. That’s how we met up with our friends.” Bringing a coffee shop’s relaxed and bohemian ambience towards a place of affectionate banter with friends over a beer or a board game. “I wanted the Swedish way of doing that and being very conscious about the ambience and the way people talk.

It sounds harsh, and we take it for granted now, but it used to be a quite raw environment at the pubs.” For someone who had Mike Christopherson, new Chair never been in the for the SCC’s Scotland Chapter.

17

industry, Mike and the Boda Bar team have created something impressive and extraordinary.

A new Scottish chapter New beginnings often present possibilities just as much as it puts people to the test. The Scottish dialect, with its many variants, proved to be the latter. “We learn sort of a basic English in Sweden or that American English, which can be a bit different. I took an extra job one day a week to get to hear all the various accents.

The owner was from Glasgow, so he had quite a heavy accent, but they were so patient with me. I had to repeat the sentence three-four times every time they called from the head office.” Mike’s approach to getting up to speed with so many regional dialects is to become practical straight-away.

The chapter was all about timing. Scotland and business have both been at the forefront of Mike’s mind. “There were no really good connections on the business side between Scotland and Sweden. Most of the businesses are a bit ad hoc, people know people, but nothing really organised. So my goal is to build something stronger and scalable.” After talks with the SCC, the decision was made to join forces. According to Mike, building a more direct and robust relationship between Scotland and Sweden makes sense, as there are a lot of similarities in the mentality. From the hospitality business to something as tangible as forest, to renewable energy and biotech.

Challenge meets opportunity Mike admits that covid hasn’t been kind to the business but that there are many new op-

portunities within hospitality and emphasises the importance of adapting quickly as the pandemic’s outcome remains unclear. “We will look into investing in cloud kitchens and different ways to deliver food. Building food brands online from the same kitchen so that we can utilise our kitchen better basically.” Setting up a business provides undisclosed challenges, but with challenges comes opportunity.

Scotland, and specifically Edinburgh, has a robust financial industry. Second to London, Mikes claims it as underused and refers to it as an underdog with a substantial capacity inhabited by great people. Alongside top universities and research, the medtech sector is growing stronger. “The challenge is the uncertainty around Scottish independence. I think that is definitely the elephant in the room. What would that look like? It creates an ambivalence as there are opportunities here in the quality of life and the access to really quality people with good education level.” And Mike hasn’t even mentioned either whiskey or golf yet, but then again, this chapter has only just started.

MORE ABOUT THE CHAPTERS Read more about the SCC’s regional chapters at scc.org.uk/about/chapters

LINK

MADE IN SCOTLAND

Söderberg - the entrepreneurial side of “fika” No matter if it’s big or small, life-changing or an everyday thing, we all need a break sometimes. Perhaps a fika or an entirely new direction. In 2015, Åsa Penman followed her heart when she took over as Managing Director at Söderberg in Scotland. Söderberg, a well-known business in Edinburgh, launched its first café in central London in 2019. The Link had a virtual cup with Åsa to learn a little more about the love of baking, the Söderberg brand and milestones of the café saga.

BY: ANNA CLARK

Söderberg offers traditional Swedish fika with a modern twist.

Photo: Dário Rodrigues.

The Söderberg company began its journey in 2007 to bring the Swedish bakery experience to Scotland. Since then, it has opened eight coffee shops and takeaway units throughout Edinburg and London. Åsa entered the picture by the time of opening of cafe number four and five.

“When I joined the business in 2015, I had no experience of the food or hospitality business having worked as a project manager for several years but, I jumped at the opportunity to work with something I had always been passionate about; Swedish food and baking!” Together with the growing Söderberg team, Åsa has put ‘Swedishness’ and ‘fika’ on the forefront of the scots’ minds.

like pistachio mazarin and parsnip cake. “Our continued focus on the four cornerstones of our business; classic and delicious Swedish baking, great quality coffee, relaxing and stylish spaces, and warm and helpful customer service”.

Several factors are pointing to the rampaging of Söderberg, amongst them is diligence to find the right venue, getting to know the clientele and focusing on building the foundations of the brand bit by bit. Central to this effort is, of course, finding the right people who understand the company directions as well as the customer. Each element is important in itself, but together they form the recipe for long-term success.

Building a brand, building an identity There is no denying that ‘Swedishness’ is a big part of the business. Traditional Swedish baking and pastries meet new takes on classics

According to Åsa, there are three pillar stones to consider for a thriving business. First, time and effort need to be devoted to finding the right people as a well-motivated and strong team builds a resilient business. Second, understand why your customers stay loyal to your brand and never compromise on those reasons.

Once your business starts to grow, knowing this, let’s you become more efficient without altering the brand’s essence. Third, have an ambitious plan but be prepared to acclimatise as you go. The ability to adapt is key to survival and growth, something that 2020 has shown us. In other words, to expect the unexpected.

The Söderberg café in Edinburgh. Photo: Dário Rodrigues.

Söderberg offers a sense of community, the given place to go for a quick fika break or brunch with friends. A milestone in Söderberg’s history is Soderberg Pavilion’s opening, which serves fika alongside sourdough pizzas and brunch. The Pavilion has become a place of events such as jazz evenings, it has grown in popularity and gained a regular crowd. Another milestone was the opening of Söderberg Soho

on Berwick Street in 2019. “Apart from our focus on fika and brunch, we have had great fun hosting ‘Lillördag’ live music evenings in our 1960’s Scandi basement as well as Scandi supper clubs on themes like Crayfish, Julbord and Swedish Summer. It’s been fantastic! We absolutely love our fabulous Soho regulars and the energy of this part of London.”

“Our whole identity is centred around the small Swedish word ‘Fika’, and our customers love it!”

London calling Back in Edinburgh, people are queuing on the opening day of a new Söderberg café. London’s competition has proven itself more challenging and diverse, but Åsa sees it as a driver of force.

It has kept the Söderberg team on their toes, always ensuring they provide the customer what they want. “A large proportion of our customers in Edinburgh are regulars who visit several times a week, and we were thrilled to find that the same is true in London.” Åsa confirms that there are a few initiatives put on hold by the on-going pandemic, and there are still a lot more in store for Söderbergs looking ahead. “In the meantime, we keep trying as best we can to support our communities and look forward to a time when we can all meet up in coffee shops, bars and restaurants with our friends and family again!”

18

LINK

FEATURE

Location, innovation and talent attract investments to Skåne Competition for investments is fierce – not just between countries but also on a regional level. Representing virtually every region of the world, roughly 6,000 organisations work actively with international investment promotion. About 20 of these operate in Sweden. SCC member Invest in Skåne is one of them, attracting international investors to the southernmost part of Sweden. “We may be a small region but we are home to well-known businesses like Tetra Pak and several technological inventions, and I think that all these factors together make a pretty strong case when we talk to prospects,” says Martin Diamantoudis, Director of Investment Promotion at Invest in Skåne.

BY: TOBIAS ALMQVIST

In the southernmost part of Sweden lies the Skåne region – home to one of northern Europe’s oldest universities (Lund), major research centres and inventions like Bluetooth.

With its close proximity to the neighbouring Danish capital and the European continent, the region has its own unique identity.

Among Swedes, the region is well-known, not least due to the unintelligible dialect of its inhabitants and distinctive landscape, but to non-Swedes, the region is relatively unknown.

“Indeed, almost no one outside of Scandinavia has even heard of Skåne,” Martin Diamantoudis, Director of Investment Promotion at Invest in Skåne, says. “If we want to convince someone to invest in our region it’s absolutely crucial that we can explain the strengths of the region. And it’s not enough saying that your region is good at e.g. tech. So are pretty much all the metropolitan areas that we compete with.

It’s necessary to be able to explain in detail what the investment opportunities for foreign companies are and where they are located, what ongoing projects there are in the region and what phase they are in, and this is what our business developers are working with.”

Ensuring long-term economic growth At the department for Investment Promotion, Invest in Skåne works with developing investment opportunities and product development. “Our vision is to create high-quality and productive jobs, with a high level of innovation, that will ensure long-term economic growth in the region. We do this by looking at what industries we have in the region, which of these are strong from an FDI perspective and competitive from a global perspective,” Martin says. A large portion of the job is also spent working with investment attraction, that is, to increase the visibility and awareness of Sweden and the opportunities for companies in the region. “Our target group is primarily large, international, foreign-owned companies – most of which are not yet operating in Skåne – and who are looking to expand and open new businesses in other parts of the world.”

19

High level of innovation and advantageous physical location Martin highlights life science, smart cities, tech, advanced materials and manufacturing and food as strong sectors of the Skåne region. “Life science has a strong tradition in the region, with the Skåne-Copenhagen region together forming ‘Medicon Valley’, where approximately 40,000 people are working in the private life science sector. Regarding tech, the region is known for being prominent in 5G, Emobility, AI, sensors and gaming, and when it comes to advanced materials and manufacturing, we have ESS and MAX IV – two worldleading research facilities which also complement each other in a very good way.”

”Our target group is primarily large, international, foreignowned companies – most of which are not yet operating in Skåne – and who are looking to expand and open new businesses in other parts of the world.”

What attracts foreign investors to the Skåne region is the high level of innovation and the talent pool that is present in the region due to our universities and the research that is conducted there. “Sweden is known for having a high degree of innovation. For instance, it was named the second most innovative country in 2020, and there are reports emphasising the importance for businesses to operate in innovative environments. It’s also our physical location and infrastructure, with Scandinavia’s biggest airport a mere 20 minutes away, six large ports and the possibility to reach a large number of consumers in just a few hours drive.”

Martin also believes that the legacy of the region plays a part. “We may be a small region but we are home to well-known businesses like Tetra Pak and more recently Oatly, and several technological inventions, and I think that all these factors together make a pretty strong case when we talk to prospects.”

Focus on quality – not quantity Competition for investments is fierce, with many countries spending a lot of resources to attract foreign investors and to ensure growth.

“Sweden is a relatively small player in this context. We do not invest as much time and money as many other countries and regions do, but we have a pretty strong reputation and what works for us is simply focusing on the areas we know and presenting a strong case with credible arguments substantiated with facts and data.

While the competition for investments has toughened on the international level, domestically it has rather taken the opposite direction.

“In my experience, competition between different Swedish regions has decreased over the last few years. It used to be quite protectionistic but these days everyone is talking about open innovation and the importance of working together. This is partially due to the regions having become more aware of their own, as well as other regions’, selling points, and better at promoting these”, Martin says.

Another reason behind the increasing national cooperation may be that competition has intensified internationally. Martin points out that international competition is simply too fierce to promote yourself as second-best. “If a prospect inquires about something we know another Swedish region are experts at, we will tell the client this. It is our mission to attract long-term and sustainable investments to the Skåne region. Therefore, it’s absolutely crucial that our clients will feel at home in the region and can see themselves grow here. This wouldn’t be the case if regions instead just

LINK

FEATURE

Approximately 40,000 people work withinn life scinece in the Skåne-Copenhagen region, which is one of the focus sectors for Invest in Skåne. Photo: Region Skåne.

Malmö so it’s much easier for us to meet with prospects e.g. at a convention in London.

We’ve had to shift our focus on reaching prospects by other means, e.g. through our many partners in and outside of Sweden.”

Martin Diamantoudis, Director of Investment Promotion at Invest in Skåne. Photo: Invest in Skåne.

tried to win as many investments as possible without considering what’s best for the client.

We also have enough leads and opportunities to keep ourselves busy.”

Progress despite the pandemic The pandemic has been a challenge and meant great uncertainty to many businesses.

However, Martin explains that the sectors that mainly attract investments to the Skåne region are not among the sectors which have been hit hard by the pandemic. “Areas like Life Science, pharmaceuticals and our ageing populations have rather become more interesting to investors, and tech areas such as

connectivity have also gained momentum due to the pandemic.”

“Generally speaking, we have been affected less than we thought we would be. Projects and events have been postponed or paused rather than cancelled. Normally, we attend between 40-60 international events per year, some of which have instead been held digitally during the pandemic. This has worked surprisingly well, but making yourself heard and getting your message across has definitely been a challenge, not least due to the abundance of webinars. The global meeting places normally work very well for us. Few people pass by

Looking beyond the pandemic Martin expects at least the first half of 2021 to look pretty much the way 2020 did. With meetings and conferences held digitally, his team has got a couple of new tools to reach clients more efficiently. “We are also involved in the recently approved EU-Interreg project ‘Greater Copenhagen Green Deal’, aiming to contribute to developing new solutions for green growth by creating strategic collaborations between companies, academia, the public sector, and other relevant players in Greater Copenhagen. There are many interesting things happening within the gaming industry as well. Massive Entertainment’s new Star Wars-project has once again put Malmö on the map. In addition several other large projects are being explored and discussed.

At Invest in Skåne, we are proud to work with and be part of these exciting projects.”

In late 2021, Malmö will be hosting TechConnect which is one of the largest tech conferences in the U.S. The conference is designed to connect research and early-stage technologies from universities, labs and startups with industry and investors, end-users and prospectors. It will be the first time the conference is held outside of the US, so we are very excited about that.”

Curious to learn more ABOUT SKANE? If you’re interested in doing business in Skåne, get in touch with martin.diamantoudis@skane.com.

20

LINK

Feature

Swedish innovation giving your workday an active twist Staying seated for a whole day by the office desk has proven to be associated with several health risks, and with people working from home due to the pandemic, the opportunity for movement during the day has been further limited. With a newly released report and a product line giving your workday an active twist, SCC member AJ Products is aiming to limit sedentary behaviour and put workplace wellbeing on the UK map.

BY: JONAS EKLUND

SCC member AJ products is a one-stop-shop supplier of a wide-reaching range of workplace furniture, equipment and interiors for all different types of workplaces, including offices, warehouses, industrial facilities and schools.

Founded in Sweden back in 1975 and with the UK and Ireland arm established in 1999, the company is today present in 19 countries worldwide. “Our primary focus is on delivering workplace solutions that improve ergonomics and workplace well-being. We want employees to be happier and healthier, and to create a more productive workforce for the business itself,” Laura Supple, Product Range Manager at AJ Products UK, explains.

Substantial costs associated with absenteeism According to Laura, absenteeism caused by mental and physical health reasons costs businesses in the UK up to £29 bn each year, adding up to 27 million sick days in total. “From a business perspective, as well as an individual’s

point of view, it is a particularly important area to start addressing, and the workplace is quite a simple place to adjust behaviour and make real change.”

Progressive approach to workplace well-being For many years, AJ Products has been actively promoting workplace health and well-being in the UK. As part of these efforts, the company partnered up with ukactive, a not-for-profit organisation working to improve the health of people across the UK, some two years ago.

“Particularly in the UK, there is not a focus yet on workplace well-being. Given our Scandinavian background, we have seen markets with a much more progressive approach to what a workplace could look like. That was the idea behind initially reaching out to them,” Laura says and explains how the partnership recently resulted in a report that digs into the problems with sedentary behaviour and indeed solutions for workplace well-being. With the pandemic

forcing many to work from home, the report came to include the challenges implied by the new situation many have found themselves in.

A culture of sitting There have been numerous studies about sedentary behaviour and the health risks it entails.

The World Health Organisation did a study in 2018 looking at the fact that sedentary behaviour is associated with a number of different negative health outcomes, including cardiovascular disease, certain types of cancers, type two diabetes, and general all-around mortality.

“There is evidence to suggest that workers who spend eight hours a day sitting, are up to 60% more likely to be affected by those health conditions and consequently, die earlier than people who are more active throughout the day,” Laura says and adds: “There is a culture of sitting, not just at the office. You come home, you sit on the sofa watching TV or playing video games – we are all guilty of it all the time.”

AJ Products offers a range of products giving the workday an active twist.

Photo: AJ Products.

21

LINK

Getting people activated at the workplace The report resulted in three key messages of what people and employers can do to decrease sedentary behaviour, the first of which is to look at workplace design. “It could be anything from providing alternative workstations, such as sit-stand desks or exercise bikes, to creating activity-based zones, group working areas, or even focus pods, so that people don’t sit at one allocated desk during the day,” Laura says and mentions how it also could involve encouraging use of the stairs instead of taking the lift or moving the coffee machine further away from the central work area. “It can be these simple things of just rearranging the layout to get people standing up and walking a little bit more.”

Laura Supple, Product Range Manager at AJ Products.

Photo: Private.

Changing attitudes and behaviour The second major point is to create a plan to increase physical activity and exercise. “That could be things such as organising more bike storage for the site and building showers so that people

could cycle or run in and get showered off. It could be negotiating a group rate with a local gym, or just suggesting going out for a walk at lunchtime.” Thirdly, changing the attitudes and the behaviour of the staff is equally important, as well as communicating the benefits to make sure everyone knows what is on offer and what they are allowed to do. “It’s all about creating this culture where people feel like they can take advantage of that and that people have the time for it. Also, involving the staff at the beginning of any attempt to improve workplace wellbeing makes it easier to address the real problems.”

Limited opportunity for movement Laura explains how the working from home situation many have found themselves in is limiting the opportunity for movement during the working day. “It is not just the workstation itself, but it could be walking or cycling as part of your commute, or the fact that you normally stop at the gym on the way home or even just moving around the office. And by working from home, you have lost that.” But there are several simple things one can do to get a daily dose of exercise. “Allow yourself to take breaks to move around the house, whether that is getting out on a walk for your lunch break, or just wandering around the house – those things make a difference.”

Feature

The most important investment In terms of a physical desk setup at home, a decent office chair is the most important investment, according to Laura. “It will make a big difference on long term. The implications for your back in particular, of sitting in a bad chair could have lifelong health consequences.” If you have to sit at your dining room table or your breakfast nook, there are some simple things that you can do off your own back. “Some people create themselves a more active workstation, even if that is makeshift, by for example piling some books on your desk and putting your laptop on top,” Laura says and adds that it is always a good idea to ask the employer about budgets and whether there is anything they can do to assess your situation or help you with.

Continue promoting workplace health Going forward, AJ Products will be continuing to develop its product range, bringing in new small sit-stand desk designs suitable for homeworking, in sizes that will fit in a nook or corner and that can even double up as a coffee table. “We will also continue working with the people at ukactive to promote the importance of workplace health and advise people what they can do, whether that is requiring an investment or just changing the ways that they think about it.”

Accountancy, but not as you know it...

Bringing the balance back to your business We understand that sometimes things get a little wobbly and we’re here to get you back on track

Sound like your kind of accountant?

If you need an accountant to keep the numbers aligned and the business in balance, get in touch with us today 01788 890055 | enquiries@merryhill.uk.com www.merryhillaccountancy.com

erryhill

4 MARCH | 20 SPEAKERS | Register at scc.org.uk The Nordic M&A Forum 2021 will be discussing the year ahead for Nordic cross-border M&A and financing. We will be looking to the future and the scale of opportunities in the Nordics, how disruptive technologies act as a driver for M&A and how we are connecting with the City – beyond Brexit.

Speakers include John Glen, Economic Secretary to the Treasury and City Minister, Susanna Campbell, Non-executive Director, Kinnevik AB, Raj Shah, Partner and Head of Healthcare, Nordic Capital, Gun Nilsson, CEO, Melker Schörling AB, Niclas Rosenlew, CFO and Senior Vice President, SKF Group and many more.

Sponsored by:

THE SOCIETY OF SWEDISH ENGINEERS IN GREAT BRITAIN Svenska Ingenjörssällskapet i Storbritannien utlyser stipendium till en svensk THE SOCIETY OF ingenjör för studier i Storbritannien

SWEDISH ENGINEERS IN GREAT BRITAIN

Svenska Ingenjörssällskapet i Storbritannien (SIS) erbjuder ett stipendium till en ung, motiverad och driven svensk ingenjör, som planerar eller redan studerar i Storbritannien på en doktorand eller på magisternivå (PhD eller Masters).

SIS bildades 1924 för svenska ingenjörer aktiva i Storbritannien. SIS har sedan bildandet delat ut stipendium för att möjliggöra studier och forskning för svenska ingenjörer på brittiska institutioner, inom alla ingenjörsområden inklusive kemi, el, mekanik, arkitektur, data, geologi, medicin och miljöteknik.

Stipendiet SIS stipendium för 2021 är på £5000 (fem tusen pund).

Ansökan Din ansökan skickas till Per Olof Emaunelsson på chairman@swedishengineers.org.uk, och skall vara SIS tillhanda senast 1 juni 2021.

Ansökan skall inkludera CV, namn på det Universitet/Institution i Storbritannien där sökanden studerar eller kommer att studera vid samt ett personligt brev om hur stipendiet skall nyttjas. www.swedishengineers.org.uk

LINK

Feature

Pandemic aftermath permeated discussions on 21st century leadership at the SwedishBritish Summit 2020 On 3 December, the Swedish Chamber of Commerce for the UK welcomed more than 25 speakers and 300+ delegates to the Swedish-British Summit 2020: Outer Thinking. The summit brought together business leaders, entrepreneurs, politicians and academics from both Sweden and the United Kingdom to address the key trends we are facing - from technological revolution and disruption and climate change, the future workforce and global trade - and how to navigate them as a 21st-century leader.

BY: TOBIAS ALMQVIST

The annual event was, for the first time held virtually, against the backdrop of the Covid pandemic. The pandemic, its profound global effects and potential aftermath naturally also came to permeate many of the discussions.

Nik Gowing, Director and Founder of Thinking the Unthinkable and former BBC news anchor served as Master of Ceremonies and excellently steered the discussions.

Leadership needs to be driven by purpose The event was kicked off by Hélène Barnekow, CEO of Microsoft Sweden, who talked about 21st-century leadership. She highlighted the pace of innovation since the outbreak of the pandemic and asked rhetorically whether the pandemic was a necessary impetus to accelerate the digital transformation. She also concluded that, in order to become successful in the ‘fourth industrial revolution’ as the digital transformation sometimes is referred to, leadership needs to be driven by purpose, to be value-based and inclusive, among other things. The technological transformation was the focus also of the first panel, where panellists discussed how we best tackle the impact of the sudden post-pandemic transformation in a world with increasing trade barriers and the financial crises.

Shift towards greener economies Discussions in the second panel revolved around how businesses and society jointly can achieve sustainable impact, and whether the calls we are currently hearing to refuel the economy with green initiatives will eventually lead to a shift towards greener economies.

In the fireside chat preceding the panel, Sir Roger Gifford, Senior Banker at SEB London, and Chair of Green Finance Institute expressed great optimism regarding the rapidly increasing interest among businesses and investors, and governmental desire to see real change happen, with net-zero announcements being made across the world. He concluded that finance, and the world at large, are changing.

Imaginal skills equally as important as analytical skills Pippa Malmgren, Former US Presidential Advisor, expressed her faith in technology’s ability to facilitate extraordinary results but called for

The Swedish-British Summit 2020: Outer Thinking was carried out as a virtual show. In the picture: Nik Gowing, Director and Founder of Thinking the Unthinkable and former BBC news anchor and Hélène Barnekow, CEO of Microsoft Sweden.

a leadership being able to think outside the box, stating that a leader’s imaginal skills are equally or more important than its analytical skills. Remaining on the topic of leadership, Lisa Lindström talked about five principles of the future leadership. One of her suggestions was to introduce a new KPI, namely that of learning. Lisa argued that measuring learning might be the most efficient way of telling whether we are on track – whether we are adapting to a world that is constantly changing.

We are part of the whole ecosystem To put our very existence and place in the world into context, H.E. Olof Skoog, Head of the Delegation of the European Union to the United Nations, said that humans share more DNA with a cod, than the cod shares with a shark, reminding us that we are part of a greater ecosystem. As the most dangerous, but also most intelligent species in the world, we have the ability to either destroy ourselves or work together to make the world a better place.

Watch the SWEDISH-BRITISH SUMMIT ON YOUTUBE More than 300 delegates tuned in as leading speakers from both Britain and Sweden gathered to discuss what it means to be a leader in the 21st century at the Swedish-British Summit 2020. The 25+ speakers discussed disruptive tech, climate change, people culture and global trade, and how leaders can navigate a world in constant change.

24

LINK

Feature

A STOCKHOLM INSTITUTION FOR OVER FIFTY YEARS:

The family-owned hotel Diplomat moving with the times Situated at one of Stockholm’s finest addresses, with views over the city’s waterfront, lies Hotel Diplomat. Owned and run by the fourth generation Malmström, the hotel is named after its history as a home to many ambassadors and is rated one of the best hotels in Northern Europe. In this feature, Anna Cappelen, Chairman and Partner at SCC member Hotel Diplomat lets us in on the secret behind the hotel’s success.

BY: TOBIAS ALMQVIST

Hotel Diplomat is an elegant luxury hotel located by the Nybroviken harbour in central Stockholm. The building, which was originally built as a residential palace, was converted into a luxury hotel in 1966. All rooms remain individual and unique to this day, and so do elements from the time when the building served as state apartments. “The building’s classic ‘Art Nouveau’ style has been preserved and is today combined with sophisticated deco and clear, Scandinavian design,” Anna explains. “The Malmström family has a long-standing interest in art, design and culture which is manifested throughout the hotel. The hotel rooms are furnished in a contemporary sophisticated style, and works by notable Swedish artists adorn the walls of the hotel’s corridors.”

A home away from home The hotel is rated one of the best hotels in Northern Europe and has over the years been awarded an array of awards, including several of the prestigious Condé Nast Traveler Readers’ Choice Awards. Anna sees several factors behind the hotel’s success and its ability to stay relevant 55 years after the opening.

“Our long experience in the hospitality business makes us confident in what we offer.

We are passionate about delivering exceptional and personalised guest experiences. It should be their home away from home when visiting Stockholm. We also travel a lot and pick up trends quickly, we follow developments and lead it from time to time.”

”Our fantastic staff is the reason for our success.

We care about our staff as much as we care about our guests. We have people that have worked here over 40 years and it says a lot about the company.”

The fact that the hotel has been owned and run by the same family since its opening has had a big impact on the hotel’s DNA according to Anna. “Our fantastic staff is the reason for our success. We care about our staff as much as we care about our guests. We have people that have worked here over 40 years and it says a lot about the company.”

The hotel’s ability to retain staff applies also to the hotel clientele. Over the last few decades, the typical hotel guest has remained fairly the same – travellers who place high demands on service, quality and are looking for luxury hotel Anna Cappelen, Chairman and experiences as Partner at Hotel Diplomat. well as something Photo: Hotel Diplomat. unique. “We always want to stay relevant which makes us a popular choice for the savvy leisure guest as well as the well-travelled businesswoman.”

Desire to travel changed – not disappeared Due to both national and international travelling restrictions in place to reduce the spread and to mitigate the effects of the virus, the hospitality industry is among the industries that have been hit hardest since the outbreak of the Covid-19 pandemic. Anna explains that the idea of travelling has changed but definitely not disappeared. “People are discovering that they can have travel experiences in their own city by staying at a hotel and enjoying its restaurants, cafés and other facilities.

Since the outbreak of the pandemic, most people are now booking last minute compared to before when the majority booked several months ahead, so we need to offer flexible cancellation policies.

Meeting face to face still crucial With Covid-19 vaccines being rolled out, and people’s longing for travelling at an all-time high, Anna is optimistic about the future.

“We foresee an increase in leisure travel as people are longing to travel and to experience new cities and cultures. This goes for corporate travelling as well. There has been a huge leap in new technology which is having a positive impact on how we communicate, but meeting face to face is still a crucial part of doing business. The pandemic has also led to an even greater focus on sustainability and this is also something that we are really focused on. In spring 2021 we will open our new sister hotel, Villa Dagmar which is very exciting.”

Hotel Diplomat is rated one of the best hotels in Northern Europe. Photo: Hotel Diplomat.

25

LINK

Upcoming events The SCC is offering a mix of virtual roundtables, forums and summits. We hope to open for hybrid or in-person events as soon as able to. If you have any questions, please get in touch with the SCC. See all upcoming events at scc.org.uk/events

what are we to make of its new relationship to its greatest neighbour, the European Union?

Welcome to our third event in the “Emerging stronger” series, on 23 February, featuring Andrew Bowie, MP and Vice Chairman of the Conservative Party, and Chair of the BritishSwedish All-Party Parliamentary Group, Charlotte Erkhammar, CEO at Kreab Worldwide and James Sproule, Chief Economist at Handelsbanken plc. The discussions are moderated by Nik Gowing, Director and Founder of Thinking the Unthinkable and former BBC news anchor.

Sponsored by Handelsbanken plc.

Upcoming EVENTS

Virtual Roundtable feat. Gerard Grech, Chief Executive, Tech Nation

25 March | Virtual Welcome to this Virtual Roundtable discussion featuring Gerard Grech, Chief Executive at Tech Nation, on how the UK will continue driving European tech, its connectivity with regional partners, and the tech scene beyond Brexit.

Gerard Grech is the Chief Executive of Tech Nation, the growth platform for tech companies and leaders. Tech Nation’s mission is to unlock the growth potential of 1000 scaling tech leadership teams across the UK by 2022, contributing over $1Bn to the UK economy.

Nordic M&A Forum In conversation with the UK Minister of State for Trade Policy The Rt Hon Greg Hands MP

22 February | Virtual Join us for a Council of Foreign Chambers of Commerce in the UK virtual event with the Rt Hon Greg Hands, Minister of State for Trade Policy at the Department of International Trade, on the importance of international trade and investment post-pandemic, the trends shaping the future, and the implications of the UK’s bilateral trade agreements. The Rt Hon Greg Hands is Minister of State for Trade Policy at the Department of International Trade, with over 10 years of government experience in various roles such as Deputy Chief Whip and Treasurer of Her Majesty’s Household, Chief Secretary to the Treasury.

4 March | Virtual The Nordic M&A Forum 2021 will be discussing the year ahead for Nordic cross-border M&A and financing. Together with speakers including John Glen, Economic Secretary to the Treasury and City Minister, Gun Nilsson, CEO, Melker Schörling AB, Raj Shah, Partner and Head of Healthcare, Nordic Capital - and many more - We will be looking to the future and the scale of opportunities in the Nordics, how disruptive technologies act as a driver for M&A and how we are connecting with the City – beyond Brexit. Sponsored by DealCloud, DFIN, Inex One, Lincoln International and Linklaters.

Virtual Roundtable feat. Robert Bergqvist, Chief Economist, SEB Group Emerging stronger, vol. 3: 54 days of a sovereign United Kingdom - what now for the UK and the EU?

23 February | Virtual After years of debating, delaying and discussing, Britain finally left the European with a trade deal on 1 January 2021. But what now?

What is next for the United Kingdom, and where is it heading? In the aftermath of a hard pandemic-hit and Brexit infused recession,

Virtual Roundtable feat.

Katrine Marçal, Author and Journalist 28 April | Virtual

Welcome to this Virtual Roundtable discussion featuring Katrine Marçal, author and journalist at Swedish daily Dagens Nyheter, on how ingrained ideas about gender hold society back from developing, and how opening up for diversity can alter the future for good.

Katrine is a political and feminist journalist and author known for her work with publications like Dagens Arena and Aftonbladet. She also published the book Who Cooked Adam Smith’s Dinner? discussing the connection between patriarchy and economics in 2012, and has now published her new book Mother of Invention: How Good Ideas Get Ignored in an Economy Built for Men.

11 March | Virtual Welcome to this Virtual Roundtable discussion featuring Robert Bergqvist, Chief Economist of SEB Group, on the macroeconomic outlook for Sweden and the United Kingdom post-Brexit and in the midst of the global pandemic. Robert Bergqvist was appointed Chief Economist at SEB in 2007 and is responsible for managing the bank’s wider economic analysis research team. Having joined SEB in July 1997, Robert previously directed SEB’s Trading Strategy Analytical Unit where he was responsible for market and trading oriented currency, interest, and credit analysis.

26

LINK

IN OTHER NEWS

News from the SCC community

Volvo Cars introduces new Care by Volvo subscription in the UK SCC patron Volvo Cars have announced the new Care by Volvo subscription service in the UK, offering customers easy and convenient access to the car they want all covered by a single monthly payment.

The service is being rolled out nationwide following a successful regional trial and is designed to serve as an attractive alternative for customers who choose not to lease or buy a brand-new car including all associated servicing, maintenance, assistance and data services. The service covers more aspects of car ownership with greater flexibility than any other comparable service currently on the market in the UK.

Photo: White & Case

White & Case is this years’ M&A Legal Advisor

SCC member White & Case has been awarded M&A Legal Advisor of the Year

by Mergermarket. “We are very proud and grateful to our clients to be awarded the most prestigious and international prize for Swedish M&A. This is a huge recognition of our strength as a leading M&A and Private Equity consultant in Sweden”; Jan Jensen, Nordic Manager, Private Equity and Office Executive Partner at White & Case in Stockholm. The firm is awarded based on Mergermarkets ranking, the total transactions value, as well as the number of deals made. Strategical aspects, innovation and the degree of complexity are also factors taken into consideration.

Amongst several high profile transactions last year, White & Case advised Klarna, Oatly and EQT. According to Jan Jensen, the key attributes to strong customer relations and the successful year are wide industry experience, globally integrated M&A and private equity consultancy, and of course, the team in Stockholm.

27

Photo: Löfbergs

Cooperation helps Löfbergs grow in the sustainability field

In a new sustainability report, SCC member Löfbergs show lower climate impact, more certified coffee and increased support for small-scale coffee farmers. The report is a result of diligent reformation across the entire business. As part of this work, Löfbergs has started Circular Coffee Community, an initiative where Löfbergs invites consumers, companies and others to find solutions that contribute to a circular coffee business with zero-waste. “Our sustainability work starts out from the UN Sustainable Development Goals, not least goal 17 that deals with partnership and cooperation.

We would not have come as far as we have without participating in several different networks and contexts, and we will continue to work together with others to develop and share sustainable solutions,” says Eva Eriksson, Head of Sustainability at Löfbergs.

Photo: AstraZeneca

AstraZeneca’s Covid-19 vaccine approved by the EU The EU’s drug regulator, European Medicines Agency, has approved the use of SCC patron AstraZeneca’s Covid vaccine for all age groups above 18, which is the final step to allow countries to use it across the union. The agency based its positive opinion on data from a rolling review of trial data from the primary analysis of the Phase III programme led by the University of Oxford. The vaccine was approved for use in the UK on 30 December 2020, and is the third Covid-19 vaccine given the green light by the EMA after the Pfizer and Moderna vaccines. AstraZeneca continues to engage with governments, international organisations and collaborators around the world to ensure broad and equitable access to the vaccine at no profit for the duration of the pandemic.

Oriflame teams up with Swedish pop star SVEA In a collaboration with Universal Music Sweden, SCC member Oriflame teams up with up-and-coming Swedish singer SVEA. “Oriflame has always supported young entrepreneurs and talents who work towards fulfilling their dreams, so this type of innovative collaboration is a perfect fit,” says Charlotte Siljebrand Nisses, Global Brand Director at Oriflame. As part of the collaboration, SVEA has written a song, ‘Share your passion’ for Oriflame. ”I wanted ‘Share your passion’ to be a song that gives you energy and makes you happy, so you feel uplifted and inspired to share your passion, whatever that is and whoever you are. That’s what I like about Oriflame: the opportunities that Oriflame provides to people – and especially women – all around the world is so inspiring and that’s so important to me,” says SVEA.

Photo: White Arkitekter

White Arkitekter to design new Cambridge Children’s Hospital

SCC member White Arkitekter has secured its second major hospital project in the UK. As part of an expert multi-disciplinary team headed up by professional services company Turner & Townsend, White Arkitekter will be bringing its world-leading hospital design experience to the new Cambridge Children’s Hospital, due to open in 2025. The hospital aims to provide a new way of caring for young people, integrating mental and physical healthcare, alongside world leading academic research, built on the Cambridge Biomedical Campus.

LINK

Klarna teams up with Mighty Hoopla

Photo: Klarna

SCC patron Klarna announced they have teamed up with UK pop festival, Mighty Hoopla as tickets go on sale and the festival reveals its 2021 comeback line-up. Mighty Hoopla will take place in Brockwell Park, London on 4 September 2021 and as the festival’s official Ticketing Payment Partner, Klarna’s instalments product will be available for festivalgoers to spread the cost in 3 payments. These are set up automatically, with the first payment made at the point of purchase and the final two payments being taken 30 and 60 days after purchase, interest and fee-free. “With the hospitality and events industry severely affected over the last 12 months, Klarna are thrilled to assist Mighty Hoopla and their customers in overcoming some of the challenges of the current climate and are excited to celebrate the return to physical events.”

Electrolux and Securitas Top Employers of 2020 SCC patron Securitas and Electrolux, have been recognised as Top Employer in 2020 by the Top Employers Institute for creating exceptional employee conditions and delivering exceptional people management. The Top Employer certification is awarded to the best employers around the world: organisations that demonstrate the highest standards of employee offerings. Each of these organisations demonstrated a forward-thinking human resources environment that is continuously working to optimise its employee conditions and lead the way in the development of its people. This is the third consecutive year that Electrolux has been named Top Employer Europe and CEO David Plink, Top Employers Institute had this to say about Securitas: “Despite the challenging year we have experienced, Securitas UK has continued to demonstrate the power of putting their people first in the workplace. We are proud to share this year’s announcement and congratulate the organisations who have been certified in their respective countries through the Top Employers Institute programme.

IN OTHER NEWS

Prestigious double ‘A’ score for Tetra Pak

Skanska in combined effort to combat race inequality

SCC patron Tetra Pak has been awarded for their stewardship in corporate sustainability by global environmental non-profit CDP. Tetra Pak is the only recognised company in the carton packaging sector in the CDP leadership band for five years in a row and to score an outstanding double ‘A’ for climate and forests in 2020. Markus Pfanner, Vice President Sustainability, Tetra Pak: “Transparent disclosure is at the core of how we measure and improve our sustainability performance. This recognition – a first in the carton packaging sector – is a result of our continuous efforts to reduce GHG emissions and meet ambitious climate targets, to take action in protecting and enhancing biodiversity and to strengthen responsible sourcing of raw materials.”

SCC patron Skanska took part in a cross-sector virtual roundtable to share best practice and challenges in driving a more equal workplace.

To mark the UK’s first country-wide Race Equality Week from 1 to 7 February, major industry players from across sectors came together to exchange ideas on how to eradicate race inequality in the workplace and combine efforts to ensure transparency in this issue.“At Skanska and across the industry, we’re striving to create an inclusive workplace and make it a place for all. There is still a way to go but with the events like the UK-wide Race Equality Week, our industry is slowly changing for the better and individual organisations are becoming more transparent about their efforts in tackling race inequality, which is a huge step forward in achieving racial equality in the workplace.” said Skanska’s Inclusion and Diversity Manager Christina Houlgrave.

Photo: Visit Stockholm

New short documentary explores the secret formula for attracting talent to Stockholm Stockholm is widely regarded as one of the most innovative places in the world, with the highest number of unicorns per capita after Silicon Valley. It’s also one of the best cities when it comes to attracting international talent. In Europe, Stockholm is among the top three destinations for generation Z, and is an equally attractive city to investors. In a new documentary video, SCC member Visit Stockholm explores what it is in the Stockholm DNA that fosters this innovative atmosphere.

For those envisioning a future life in the Swedish capital, Visit Stockholm has put together a website where Stockholm locals tell their stories of moving to Stockholm and why they made the decision to stay.

Photo: IKEA

Learn Swedish with IKEA SCC patron IKEA launches Swedish lessons to help keep kids entertained during lockdown.

IKEA has unveiled a series of bitesize videos in a bid to also give parents a much-needed break whilst homeschooling. The language lessons cover typical introductory topics including family, nature and geography, but come with a twist – the learning is through the medium of IKEA and its uniquely named products. Give the lessons a go and show them your newly found Swedish skills on Instagram, using the hashtag #SwedeTalking and tag your post @ IKEAUK.

Got news for us? Email eklund@scc.org.uk.

28

Nytt från Svenska kyrkan Telefontider

Gudstjänst söndagar 11,00

live stream på Facebook

måndag tisdag onsdag torsdag fredag

Digitalt kyrkkaffe söndagar efter gudstjänst, anmälan skickas till

Kerstin Garplid laydeacon@swedishchurch.com

10-12 10-12 12-14 10-12 10-12

Nu kan du också köpa våra goda semlor hos Totally Swedish, både i Marylebone och i Barnes.

Vi levererar dit måndagar och fredagar.

Svenska kyrkan i London 6 Harcourt Street W1H4AG London

svenskakyrkanlondon

svenskakyrkan.se/london

020 7723 5681

www.rivalcolour.com

Print in Good company!

Turning waste into value

Influencers changing the marketing industry

Wastefront and Cassandra Oil puts an end to unsustainable waste handling by extracting value from waste.

Influencer marketing experts at Cure Media, Tailify and Boostified on the ins and outs of the multi-billion pound industry.

In business with the north Mike Christopherson takes on the role as Chair for the Chamber’s new chapter in Scotland.

LINK Dedicated to the Swedish-British business community since 1906

» The SCC use Rival

”We are slowly but surely transitioning from an e-scooter company only, to one that is truly transforming urban landscapes.”

for printing services – in fact you’re looking at our printing NOW!

Meet Fredrik Hjelm, Co-founder and CEO of VOI

No.354 0-12.indd 1

15/02/2021 16:59:59

CONNECT WITH THE INDUSTRY AT THE EVENT FOR DIGITAL MARKETING

Debatable Issue 14 – November 2013 | Souvenir Edition

A summary of the debates held in the House of Commons by the UK Youth Parliament, 15th November 2013

“Democracy is such a beautiful thing – I want a piece of that” (Georgina Hands, MYP for Lincolnshire Central)

WWW.AD-TECHLONDON.CO.UK SOCIAL | MOBILE | EMAIL | DATA/ANALYTICS DAT ATA AT TA/ANALYT L ICS | AFFILIATE/PERFORMANCE LYT AFFILIATE/PE A ATE/PE RFORMANCE DISPLAY A ADVERTISING/TARGETING AY ADVERTISING/TA T RGETING | AD SERVERS/NETWORKS | OPTIMISATION TA OPTIMISAT A ION AT VIDEO | RTB/EXCHANGES | SEARCH | CRM | MULTICHANNEL | CONTENT MARKETING Platinum Sponsor Debateable print 2013.indd 1

Gold Sponsors

Silver Sponsors

Real Time Advertising Summit

Video Summit

28/02/2014 11:08

IF YOU CAN PRINT ON IT...WE CAN PRINT IT! #adtech_london @adtech_london

Spice-2943 Cover-245x170_v2.indd 1

20/08/2013 16:14

LINK

GUEST COLUMN

Would you entrust it to an AI to manage your life savings? …well, maybe you should? Perhaps an algorithmic high frequency trader (an automatic “robot trader”, using AI programming to trade) can manage your investment portfolio more effectively than any human trader? That is likely to be true, as long as market conditions keep in accordance with the presumptions underlying the design of the algorithm. Algorithmic trading has been part of trading in financial instruments for many years now and it very rarely malfunctions. An AI can detect and respond to small changes in market prices much quicker than any human trader. We cannot do transactions in fractions of seconds, but they can.

BY: MAGNUS STRAND, WASP-HS RESEARCH LEADER, ASSOCIATE PROFESSOR OF EUROPEAN LAW AT UPPSALA UNIVERSITY

Photo: Mikael Wallerstedt.

However, things can go awry. In the first chapter of his best-selling book Superintelligence (OUP 2014), Swedish-born Oxford philosopher Nick Bostrom outlines what happened in the so-called “flash crash” of 6 May 2010. In short, a combination of unusual events on an American exchange for futures contracts caused algorithmic traders to systematically misinterpret the situation. Through an unfortunate chain of events, prices went spiralling down and the total net loss on the exchange was, at its lowest, at $ 1 000 000 000 000 (as calculated by the Wall Street Journal). Fortunately, safety mechanisms were triggered, there was an emergency hiatus to trade (for five seconds), and it was possible after-the-fact to remedy most of the damage by reversing transactions made at extreme prices.

The flash crash illustrates that there is a risk connected to algorithmic high-frequency trading. This risk has to do with how the algorithms behave while trading and it has to do with their sensitivity to unusual situations. In that sense the risk is connected to the algorithms themselves. Moreover, any computerized marketplace is subject to cyber-threats. It is necessary to protect the algorithms from hackers and others who may try to manipulate them. This is an external risk, being connected to malevolent outsiders while having little to do with the algorithms as such. Risks in algorithmic trading, such as these, need to be assessed and kept under control by the banks and investment firms who offer their clients AI-based portfolio management. To a large extent this is done

with technological tools, ensuring for example that the algorithms are resilient in the event of unusual market conditions and that they are as hard as possible to manipulate. From the perspective of a lawyer, such as me, the point of departure is that whoever offers an AI-based portfolio management service can be held liable by clients if the AI malfunctions. Still, this is largely uncharted territory. It is notoriously difficult to hold any portfolio manager to account for mismanagement, and AI-based services are relatively new and unknown to law.

This year we are launching a research project at Uppsala University, focusing on accountability for AI applications in the financial markets, and on risk management in relation to AI applications offered. Our research interest is triggered by systemic risk concerns, but for this project we have chosen to focus on a business perspective. We are not financial mathematicians or engineers, so we do not intend (God help us if we would) to scrutinise algorithms and technological precautions adopted for their proper functioning. Our interest is in the allocation of risk between the stakeholders. We argue that the infrastructure of accountability for this type of services is quite unclear. Legislation, which is always reactive, cannot help but lag behind.

Therefore, we focus on risk management measures as adopted by the stakeholders, and more precisely on legal tools for risk management. When banks and investment firms enter into contract with programmers for the development of an algorithm for high-frequency trading, is the allocation of costs in the event of

malfunction addressed in the contract? What about the contracts on portfolio management, entered into by the bank / investment firm and their clients? Is there demand for insurances specific to AI-based portfolio management?

Businesses in the financial sector must be proactive and cannot wait for legislative intervention (the shape of which is uncertain).

They need to create systems for the allocation of risk and the distribution of liability regarding cybersecurity and operating security of algorithms. They need to “see round the corner” and find ways to secure the use of the most advanced algorithms, even of new generations of self-learning algorithms. Such an endeavour is impossible for legislators, but banks and investment firms have to do it. That’s where it’s at. Maybe you are involved in this line of work? If so, why not make contact through The Link and tell us what you do and why you have chosen that specific strategy. We’d love to hear your story and cannot wait to tell you ours.

ABOUT UPPSALA UNIVERSITY Founded in 1477, SCC member Uppsala University is the Nordic region’s oldest university – and is ranked among the top 100 universities in the world. The university admits around 40,000 students and has nearly 5,000 researchers and teachers conducting world-leading research and offering a seemingly endless number of courses. Learn more at uu.se

30

LINK

New Members

NEW MEMBERS The Swedish Chamber of Commerce for the UK is the ultimate business platform for Swedish and UK businesses, representing some 400 companies from across all sectors and industries, and from start-ups, SMEs, unicorns to large corporations. Membership comes with a suite of benefits for you, your colleagues and your business. If you would like to find out how you can maximise your membership, or to enquire about joining, please do get in touch at membership@scc.org.uk. But first, a warm welcome to our newest members.

BIOSTAYS

31

AVA STORIES AVA is an app with erotic audio stories, articles and podcasts for women’s sexual drive and health. AVA was created with women’s health and happiness in mind. It encourages women to explore their sexual desires, shame free, by celebrating female sexuality, and normalising female pleasure.

BIOSTAYS Biostays is a start-up aiming to change the travel industry to better the environment. We provide epic travel destinations and experiences around the world, but mainly in Europe and Scandinavia. We have partnered with one of the major rainforest charities and every booking on biostays.com will save around 2 acres of rainforest! We welcome any potential partners and investors.

BOOSTIFIED We built a payment tool to create traffic & marketing to your local retail store.

GLOBALIZATION PARTNERS Globalization Partners is a Global Employer of Record that simplifies international business by enabling companies to hire teams in 180+ countries without setting up international branch offices. You find the talent, and Globalization Partners puts your team members on their locally compliant payroll. This lifts the burden of navigating global HR, tax and legal matters from your shoulders to theirs.

HALDOR Haldor is a Swedish EdTech company that develops user-friendly, educational tools seamlessly integrated in Microsoft Teams and Office 365. Haldor was the first company in the world to develop tools that extend the functionality of Microsoft Teams with all the features of an LMS.

HASTENS BEDS Hästens, is a Swedish manufacturer established in 1852, today specializing in beds, bedlinen, pillows and lifestyle accessories.

Hästens manufacture beds and mattresses by hand using natural materials like cotton, horse hair, wool and flax.

LINK

New Members

INNOVENT BIOLOGICS Innovent is committed to developing, manufacturing and commercializing high quality innovative medicines that are affordable to ordinary people for the treatment of major diseases. Since its inception, Innovent has developed a fully-integrated multi-functional platform which includes R&D, CMC, clinical development and commercialization capabilities, with 4 products, TYVYT® (sintilimab injection), BYVASDA® (bevacizumab injection), SULINNO® (adalimumab injection), HALPRYZA® (rituximab injection) successfully launched.

KRY/LIVI Kry allows you to consult a qualified health professional within minutes, via your smartphone or tablet. Through digital technology, Kry provides equitable access to high-quality health care – at the patient’s own convenience. Headquartered in Stockholm, Sweden, Kry operates in a number of European countries, and with further international expansion on the agenda.

PHARMA WAY Pharma Way market and distribute innovative personal health care products worldwide. The major product is the wellness shot, Dot Shot, based on water-soluble curcumin (turmeric) that gives a faster and better uptake than regular curcumin, thereby improved effect.

Dot shot is both antioxidant, anti-inflammatory and help the body to recover. Used by elite athletes and people leading an active life.

RIDESTORE Fast-growing E-commerce B2C company with focus on ski-, snowboard clothes and accessories in Europe and North America.

SPROUD Sproud is the plant-based dairy brand, powered by peas. Born in Malmö in 2018, we work on the global arena with four variants of milk alternative. Appealing to health-conscious and sustainably-minded consumers, the Sproud portfolio brings taste and sustainability together. We believe in protein sources that are good for our health and for the environment.

TEAL CAPITAL TEAL Capital acts as Nordic origination and structuring partner to top tier international lenders seeking to access the Nordic real estate market. TEAL Capital can offer Nordic borrowers a new source of financing to strategically complement the domestic bank and bond market.

32

LINK

Meet

FREDRIK HJELM CO-FOUNDER AND CEO OF VOI With the sharing-economy estimated to grow to US$335 bn by 2025, and a growing demand for sustainable solutions among an aware audience of consumers, SCC member Voi has the course traced out to revolutionise our means of travel, and to challenge the transport industry with its e-scooters. “We are slowly but surely transitioning from an e-scooter company only, to one that is truly transforming urban landscapes via a range of micro-mobility vehicles,” says Fredrik Hjelm, Co-founder and CEO of Voi. BY: JONAS EKLUND

Fredrik began his entrepreneurial journey at a young age. When he was merely 12, he started running commercial projects, including forestry work in rural Sweden where he grew up, as well as events and website sales.

After graduating high school, he attended the Armed Forces Interpreter Academy, within the intelligence branch of Sweden’s special forces, where he studied Russian and linguistics. “I served a total of four years in Moscow in the Defence Attaché Office, where I worked as an interpreter and analyst, covering Russia, Kazakhstan, and Belarus. From there, I went on to study business and economics at the Stockholm School of Economics.”

Before embarking on the Voi journey, he founded Guestit, the most successful Airbnb management company in the Nordics, and worked in business development for Avito.ru, Russia’s leading – and the world’s third largest – classified advertising site. Fuelled with inspiration from these experiences, an idea that would take care of many of the issues he’d seen during his years in hospitality and in Russia was born. “At Guestit, we hosted thousands of guests who’d regularly ask for advice on how to best get around town. There was a clear demand for quick, easy transit options, even in cities such as Stockholm, where there is good

“Quote”

Fredrik Hjelm, Co-founder and CEO of Voi. Photo: Voi.

33

public transportation and infrastructure. During my four years in Moscow, I saw close up how polluted and dysfunctional cities can become when they are choked with traffic. I set up Voi to help solve those issues.”

An exciting and humbling ride In 2018, Fredrik co-founded Voi Technology with the vision to improve the way people move around congested urban centres by offering fleets of electric scooters as a cleaner, affordable, and exhilarating alternative to cars.

Today, the company provides shared e-scooter services to more than 50 cities in 11 countries across Europe, where it has served over 35 million rides to 6 million users to date. “It has been an exciting and humbling ride so far,” he says as he reflects on the key ingredients that have taken the business where it is today.

“The success boils down to a combination of things: having a clear passion and vision, assembling a great team who can collaborate and execute on that vision, dogged determination, and never losing sight of why you started your business in the first place. For Voi, that is to create cities for living and truly improving people’s quality of life.”

Transforming urban landscapes According to Fredrik, e-scooters are just the

start of a revolution in how we move around in cities. Riders are not tied to a time table or a route and can connect the last or first mile of travel, when there can be a temptation to use a car or taxi and for short journeys.

Apart from accessibility and convenience for the users, the micro-mobility service comes with an array of environmental benefits. “Our aim is that e-scooter use should be affordable, safe, and efficient, particularly for those who need to go farther than they can walk and don’t have access to a car. We’ve been operating carbon neutral since January 2020, and micro-mobility helps to lower our collective environmental footprint, with huge potential to improve air quality and reduce climate change.

We are slowly but surely transitioning from an e-scooter company only to one that is truly transforming urban landscapes via a range of micro-mobility vehicles.”

Sharing-economy is the future The sharing-economy is estimated to grow to US$335 bn by 2025. With tech as a major driver, companies can tap into emerging technologies that are scalable to provide services that Fredrik sees a growing demand for. “I think people are more aware of consumption patterns and see less need to buy and own certain items. Customers are becoming more and more aware of environmental impacts of supply chains and production processes, and they have a greater say in those processes than ever before. Sharing is a more cost-effective, sustainable model, and people see the benefits of that approach.”

Fredrik believes that the sharing-economy is “the future”, as he puts it. “Whether it’s through for-hire autonomous vehicles in the near future or shared micro-mobility and car hires now, technological advancements make owning one’s own vehicle less of a priority. Ultimately, shared vehicles will democratise the transport industry, as they make transit much more affordable and accessible to everyone.”

As an early adopter of new advancements, he sees e-scooters as a trigger for change in the entire transport industry. “We introduced slowspeed zones back in 2019, which is something the automotive industry has had the technology to do for a while, but has simply chosen not to pursue. We hope that by making these changes, we can encourage others in the industry to follow suit.”

LINK

Safer option during the pandemic When the pandemic swept over the world, e-scooting proved to be a safer choice for commuters, allowing for social distancing by riding in open air and relieving the burden for public transport systems. “Even before the coronavirus, governments were talking about how micro-mobility solutions could encourage active alternatives to short car journeys and promote low-carbon transport. We know both anecdotally and through our data that people have really embraced e-scooting during the pandemic.”

To make sure the fleet is safe, Voi has increased its cleaning and maintenance frequencies. The scooters are fitted with handlebars made of a material that inhibits the transmission of viruses and bacteria, thus offering antibacterial and antiviral protection. All scooters are disinfected at least every 24 hours and riders are provided with COVID-19 information through the app. “We are also very proud to offer free rides to medical and emergency response workers during this time, through our Voi 4 Heroes programme.”

Entering the UK In July 2020, when the UK Department for Transport announced its e-scooter trials to support socially distanced travel and to bolster a green restart of the economy, Voi was there for the ride. “We’re now the UK’s numberone operator, with 17 cities and counting. We currently have over 100,000 active users in the UK who have taken more than 500,000 rides over nearly 700,000 miles since we

launched in September.” It is not only the size of the UK market that makes the expansion advantageous – the town and city infrastructures have proven to lend themselves well to micro-mobility. “We know we can make a positive difference to how people move here.

Our e-scooters can seamlessly blend into the existing public transport systems to help to solve the first- and last-mile challenges. We know from close discussion and collaborations with UK regions that air quality and traffic congestion are key issues, and we can make a demonstrable change to improve both. As the government is still working out the legislation to legalise e-scooters, we see these trials as an opportunity to positively influence regulations going forward. E-scooters can be a key instrument in city transport planning,” Fredrik says and explains that safety, parking and integration with public transport have been key focus areas during the trials. “As legislation moves forward, we will continue to work to make our services even safer and more accessible, especially as we enter new areas and expand our operations. “ Limiting pollution and gridlock with new innovations Looking ahead, Voi is launching a new escooter model, the Voiager 4, that will be rolled out in partner cities during the spring. “As cities seek to limit pollution and gridlock, we have designed the V4 to contribute to lowering traffic congestion and fuels, as well as helping cities to collect data for improvements.

Equipped with smart sensors that measure noise and as an option, air quality, as the scoot-

Meet

er travels along streets, the V4 will open a new frontier against pollution and poor air quality.”

Apart from continuously improving its services, Voi recently started its City Innovation Fund, offering a pool of US$3 million to like-minded partner companies and research institutions that help solve micro-mobility challenges, including safety and parking.

Passion, resilience and perseverance key to success When asked about his entrepreneurial spirit and what advice he would give to other aspiring entrepreneurs looking to realise their dreams, Fredrik says that everything begins with the right attitude. “Passion, resilience, perseverance, and proactivity are the key ingredients in business success. If you don’t love what you do, you won’t stick with it, and starting a business demands long hours and sacrifices. Acknowledge that challenges and failure are as much part of the process as the wins and successes. Every entrepreneurial venture involves risks and setbacks, so you cannot be afraid to take those risks.” Apart from finding a niche where the idea can fill a demonstrated need and listening to customer feedback, research and networking are crucial for understanding the industry and the problems you want to solve. “Surround yourself with motivated, inspiring, smart people and choose your partners wisely. Believe in yourself, don’t let fear guide you, and visualise your goals. Baby steps lead to real results, because success doesn’t just happen overnight. And never forget you are only as good as your last success.”

Voi recently entered the UK market and is currently present in 17 cities and counting. Photo: Voi.

34