Swedish Technology Investments
Additional government-funded technology initiatives in Sweden include funded projects titled HumaneAI, Silicon Valley and Stanford, DriveX Singapore, and a Strategic Project-Financial Hub. Details about each additional government-funded technology initiatives are presented below to include the project's duration, monetary value, reasons for investment, and challenges.
- This project's duration will last between June 2019 and December 2020. It is being coordinated by Umeå Universitet — Datavetenskap.
- The monetary value of the investment is SEK 300,000.
- According to Vinnova, the strategic grant will allow the strengthening of focus on human-centered AI, "with a strong emphasis on ethics, value-based design, and the impact of AI on society."
- Vinnova also stated that "at the same time, it is mandatory to open up participation to a wider number of Swedish organizations (universities and industry) and to align with current national initiatives. It complements the ongoing efforts at [the] European level, notably the HumaneAI flagship proposal."
- Challenges to the effort include its structure due to the necessary partnership meetings with certain EU organizations and some member states designed to make sure that Swedish partner participation is present on "alternative flagship, competence center applications and/or Horizon Europe programs. The implication of this is that to fulfill this initiative, the collaboration of these EU organizations and member states must be readily available.
SILICON VALLEY AND STANFORD
- This project's duration is between July 2019 and September 2019. It is being coordinated by RISE Research Institutes of Sweden AB — RISE VIKTORIA AB, Electromobility.
- The monetary value of the investment is SEK 182,720.
- The reason for the investment is based on the desire to drive cars using electricity so that Sweden can do well in its goal to reduce its carbon footprint by 2030. Another rationale is for the opportunity to promote innovation and collaboration between Silicon Valley and Stanford.
- The challenge to this effort includes timing since more than 50% of all new car sales must be rechargeable cars (this is another step in Sweden's goal to reduce its carbon footprint by 2030). The idea is based on automakers' tendency to "develop and market plug-in hybrids and do everything possible to keep delivery times on these cars as short as possible;" hence, this initiative's 3-month implementation period.
- This project's duration is between June 2019 and February 2020. It is being coordinated by Lindholmen Science Park Aktiebolag.
- The monetary value of the investment is SEK 2,995,000.
- "The objective is to export the Swedish innovation model with smart mobility to Singapore, to create better prerequisites for sustainable mobility, while generating business value for Swedish companies and other organizations," according to Vinnova.
- Challenges to the effort are based on the planned approach of its implementation. The project involves using the Swedish innovation model to point out the benefits of the initiative to Singapore. The challenge here is that what works perfectly in Sweden may not necessarily be an applicable model in Singapore due to a variety of reasons.
- This initiative also involves a bilateral working relationship between the two countries. In the event of a political or economic impasse involving both countries (or their allies), conflict might be a challenge to the initiative.
STRATEGIC PROJECT — FINANCIAL HUB
- This project's duration is between June 2019 and March 2020. It is being coordinated by Findec & Decentralized AB.
- The monetary value of the investment is SEK 1,000,000.
- "Our mission is to drive innovation, attract funding and improve time to market for our members and stakeholders within the fintech ecosystem. To deliver on the mission we will build our own innovation program with the goal to drive innovation for different industry needs, as well as for fintechs or other companies with a need for fintech solutions," according to details about the funding published by Vinnova.
- Challenges to the effort involve planning and research; some of which is based on interviews, surveys and workshops the must be conducted before the release of the pilot project. Lessons learned need to be organized and adjustments made to the pilot before the eventual launch; all based on interviews and surveys. The challenge may be that the interviews and surveys may not capture the perspectives or reflect the true minds of the respondents.
The research strategy the team used included Vinnova, a government agency mandated to help strengthen Sweden's innovation capacity by supporting and funding innovations both in the public and private sectors. Through their list of funded activities, we were able to pick four which are technology initiatives in Sweden. More funded activities can be accessed on the Vinnova platform.
In looking out for any challenges to the effort, we searched the database of the agency supporting the fund, but such information was not available. We can explain this by noting that the agency sees no challenge to its effort in such regard. Secondly, we searched through the websites of the organizations that have been granted funding. But no challenges to the efforts were explicitly mentioned as we assumed that the funding needed for their initiatives was already available.
Lastly, we searched through any available public data such as Forbes and Reuters. The research team also reviewed public comments on social platforms like Facebook and Twitter for available information as to the challenges that may be facing these initiatives. Again, we found none and it is our conclusion that such information is not available publicly. There were no challenges to the efforts mentioned anywhere by the agency or the organizations in need of the funding, nor any public comments on social platforms; because of this, the research team provided an analysis for the challenges that may be contemplated based on planned approaches to implement the initiatives.