• Stockholm aims to take lead in e-car rally

The city of Stockholm is preparing to further strengthen its position as a leader in cleantech and has identified the suburb of Högdalen as a new centre for environmental and clean energy technology.

The aim is to attract more national and international businesses that are at the forefront of cleantech to create a globally respected area within the sector.

The cluster would have the potential to create "hundreds of new jobs", according to Stockholm Business Region, which is one of the parties pushing the plan.

The move is part of a development strategy called Vision Söderort 2030, which aims to create 50,000 new jobs in southern Stockholm within the next 20 years.

Last month, around 70 city officials and representatives from the industry and academia met in Högdalen to discuss the project and concluded that a new greentech cluster would not only be beneficial for Högdalen and Stockholm, but for the entire country.

The initiative came as the Swedish government announced that it's investing 20 million kronor ($3 million) to promote foreign environmental technology investments in Sweden. Invest Sweden will use that money to support the formation of strategic alliances between foreign and Swedish cleantech companies. The organisation also aims to attract international venture capital firms to place their investments in the Scandinavian country.

The project in Högdalen is also being backed by organisations including the Royal Institute of Technology (KTH), Stockholm University, the Swedish Environmental Research Institute (Svenska Miljöinstitutet) and energy company Fortum.

- -
This article was published in collaboration with Stockholm Business Region.

More news about Stockholm?
Subscribe to Invest in Stockholm Newsletter today.