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IVA: Small and medium-sized companies’ digital transformation – challenges and opportunities

That the manufacturing industry in Sweden and its partners, both small and medium-sized companies, can take advantage of all the possibilities of digitization is of decisive importance for the companies and Sweden’s competitiveness. 

Four out of five jobs are created by small businesses (0-50 employees), accounting for the largest share of tax revenue in two of three Swedish municipalities. In other words, they are important for the Swedish economy. If they fail in their digital transformation, the consequences, not least in regions where small and medium-sized enterprises dominate, will be felt: fewer jobs and less tax power to finance healthcare, education and care.

For the companies themselves, digital transformation means a pervasive, rapid change that affects all parts of the business: how they take advantage of the opportunities and correctly master the challenges can be decisive for the direction in the value chain the company moves.

Royal Swedish Academy of Engineering Sciences (IVA) hosted a panel at Digitalize in Stockholm 2022 focusing on Small and medium-sized companies’ digital transformation – challenges and opportunities.

Through IVA’s Smart industry, IVA wants to stimulate the digital transformation of small and medium-sized companies, among other things, by drawing attention to and spreading good examples. Used correctly, digitization dramatically increases the opportunities for companies to change and improve both their customer offering and their contribution to positive social development. Now, small and medium-sized companies must take a step toward using digitalization to refine their product or service to deliver greater customer value and increase the company’s and Sweden’s competitiveness. This is the essence of what we often call smart products, smart services and smart industry.

IVA’s Smart industry has mainly worked through the following:

  • The company competition Smart industry – highlights and rewards good examples.
  • Company forums, company visits and seminars to exchange experience and knowledge.
  • Knowledge acquisition and dissemination.
  • Dialogue and collaboration with other established actors in the field and business.

Johan Carlstedt – Director innovation and entrepreneurship, Swedish Royal Academy of Engineering Sciences

Panelists & Prize winners in IVAs Smart Industry business competition:
Katja Lindvall – Vice President & Co-founder, Moving Floor AB
Jonas Måhlén – Executive Vice President, Research & Development, Climeon

Link to talk on Youtube:

Link to Digitalize in Stockholm 2022 panels: