ŠAVŠ/TAČR Digital Czechia in a Digital Europe


intended for the establishment and development of startups. Those interested in establishing startups can use the services of incubators and accelerators. On the other hand, Sweden is constrained by high labor costs and the fact that the country is not a member of the eurozone. Government support for startups is targeted. Sweden is looking for new opportunities to increase the attractiveness of its country for the arrival of new startup companies. This effort is supported by a number of government institutions, offices and agencies, such as Vinnova – Swedish Innovation Office, Tillväxtverket – Swedish Agency for Economic and Regional Growth, ALMI – grants for startups, university cooperation with startups and Venture Cup – a very popular competition for startups. An equally important form of support for startups is the fact that there is a very sophisticated welfare system in Sweden. Given that the establishment of a startup is a very risky undertaking, the founder of the startup, in case of his/her failure, can rely on sufficient social support to enable the rookie entrepreneur to satisfy his/her living requirements with dignity. 12 Germany is the third most popular place in terms of the establishment of startups. It is a stable country in which the establishment of startups is supported both by government institutions and by venture capital. In order to ensure the development of business on its territory, Germany has reduced the corporate tax rate. This country is characterized by a stable economic environment and excellent infrastructure that allows the development of any kind of business activity. At the same time, there is a high-level education system. Young people have a very good command of English. Germany supports the acquisition of visas for IT specialists who are not citizens of European Union countries. There is affordable venture capital in the country, and many incubators and accelerators provide business development. The advantage can also be seen that this country is a member of the eurozone. The negative can be seen especially in high labor costs (see Table 1). Government support for startups is really at a high level. The Bundesfinanzministerium has prepared support for establishing startups and provides them with medium- and long-term loans depending on the chosen program: ERP startup loan – StartGeld; ERP startup loan – universal; ERP startup capital. In addition to funding, it manages the German funding database, whose task is to provide information on current possibilities and specifics of startup financing. It specifically focuses on attracting IoT startups. 12 Gidziger Tomasz, Funding your startup in Sweden, 11/2018, see https://startupfundingbook.com/ funding-your-startup-in-sweden/. Germany

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