Why are tech startups so numerous and successful?
Sweden's entrepreneurial purple patch is a direct consequence of the country's high taxes and generous cradle-to-grave welfare system. "There is free schooling, including getting paid a stipend for attending university, while healthcare is quite inexpensive and pensions are taken care of," says Jane Walerud, CEO of Stockholm-based Teclo Networks, and also a member of the Swedish government's Innovation Council. "It is relatively safe to start companies in Sweden, and more and more Swedes realise it." There's even a tax deduction for people who privately invest in startups.