Oxford Research has conducted a mapping of the regional venture capital structures in Region Västmanland and Region Örebro. The analysis shows that access to external capital is far from the biggest barrier to growth for companies in the regions.

Oxford Research has during the period February-March 2019 conducted a mapping of risk-bearing finance in Region Örebro and Region Västmanland. The mapping serves to feed into future regional efforts in the capital supply area.

The analysis carried out as part of the mapping shows the following:

  • Access to external capital is far from the biggest barrier to growth for companies in Västmanland and Örebro, but is perceived to be a major and growing problem in Örebro compared to Västmanland.
  • With regard to external financing, loans and credits are the most demanded sources, followed by financing from family and friends, followed by state support and grants. Financing from external ownership (venture capital) is requested at a minimum.
  • The vast majority of companies seeking loan financing are granted this. There seem to be no systematic differences between men and women in this regard. The smallest companies find it more difficult to get financing.
  • Financing in the earliest growth phases is relatively better met in Västmanland, while at the same time, companies in Västmanland experience a greater lack of funding in the commercialisation/expansion phase.
  • The capital supply structure is more mature in Västmanland than in Örebro. This refers to both the matching between supply and demand and the interaction between the actors in the system.

Oxford Research recommended the regions to:

  1. Investigate the possibilities of utilising Saminvest’s matching offer regarding equity in Örebro.
  2. Clarify for whom the regional capital supply structure is designed.
  3. Coordinate the capital supply offered in the regions so that the system is perceived as transparent and uniform.
  4. Do not consider the support system as a way of making companies ready for venture capital.

For questions about the project, please contact Senior Analyst Sofia Avdeitchikova, sofia.avdeitchikova@oxfordresearch.se, (+46) 730 55 00 16.

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