At Slush, the Nordic startup scene presents itself confidently and successfully. Entrepreneurship is the focus of the two-day event in Helsinki. A study presented at the conference shows that the entire European tech industry is doing well — and identifies areas where there is room to catch up in terms of gender equality.
What Bits & Pretzels is to Munich and Pioneers is to Austria and neighboring Eastern Europe, Slush is to the Nordic countries. Northern Europe's startup ecosystem showcases itself here—and demonstrates its self-confidence: In a region with only 0.5 percent of the world's population, globally successful multi-billion dollar companies such as Skype, Spotify, and Supercell were born here, according to Slush CEO Alexander Pihlainen. Atomico, the venture capital firm of Swedish Skype founder Niklas Zennström, is also using Slush as a platform to present its study "The State of European Tech."
Europe's tech scene is growing rapidly and yet has a problem
For the study, the company surveyed 5,000 people from Europe's tech scene and came to two key conclusions. First, Europe's tech industry is doing very well. The sector is growing five times faster than the rest of the economy. This year, $23 billion in investments will flow into Europe's tech companies. In 2013, this figure was just $5 billion.
Impressions from Slush 2018 in Helsinki:
The second finding is less encouraging: The tech scene in Europe still has a diversity problem. A full 93 percent of the venture capital invested this year went to all-male founding teams. A shocking 46 percent of the women surveyed reported experiencing discrimination in the tech industry. At the same time, this discrimination apparently clashes with the industry's self-image: 75 percent consider the culture within their startup to be inclusive.
However, the Slush is making an effort to achieve a fairer gender balance: women make up around half of the speakers.
How do you convey entrepreneurial spirit to employees?
Nordic design is world-renowned. So it's no surprise that Slush, the leading trade fair for the Nordic startup scene, is a bit out of character, even in its presentation. A cross between a TED conference and the Burning Man art festival, with the coolness and aesthetics of a nightclub. we described the slush yesterdayIn places, the elaborate lighting installations make the exhibition hall look like an art exhibition.
Nevertheless, it's impossible to overlook what Slush is really about: The conference's theme is "Builders of Companies." What distinguishes entrepreneurs from employees is a "sense of ownership," says Risto Siilasmaa, who led the successful reorientation of the Nokia Group. Because entrepreneurs feel committed to their company, they devote themselves to it wholeheartedly. Siilasmaa cites rental cars as an analogy: After all, no one washes a borrowed car. Therefore, the goal must be to convey this sense of responsibility to employees as well.
