Ariad has published a report on the Nordic wireless start-up scene, with a particular focus on Sweden. The report surveys 175 small, unlisted Nordic wireless start-ups. Among the key findings were the percentage of start-ups seeking financing having decreased from 72 per cent to 60 per cent and the amount of capital sought has decreased from SEK32.6 million to SEK28.1 million.
The report suggests that despite the harsher business climate of today, the wireless Internet-related start-ups in the region show surprisingly strong signs of growth and development. Few bankruptcies have been filed by wireless start-ups and since autumn 2000, only 6.3 per cent of start-ups have ceased operations for any reason.
However, the report concludes that the Nordic region is currently experiencing its first downturn in the start-up market.