Edays Shines in Stockholm—in the Midst of Financial Crisis

Just as Wall Street was starting to collapse in mid-September, American decision- and dealmakers were meeting their Swedish counterparts in Stockholm at SACC-USA’s Entrepreneurial Days. While banks crumbled and shares plummeted Stateside, in the Swedish capital the talk was of strong transatlantic ties and continued business opportunities.

Praising SACC-USA for their 20 years in operation Jacob Wallenberg, Investor's chairman, delivered timely remarks at the SACC-USA’s anniversary banquet concerning the atmosphere of financial chaos that loomed. He said that today, now more than ever, in order for companies to be successful, they need quick access to the kind of network that SACC provides in order to make correct contacts and accelerate business.

"This was the day after we learned about the catastrophe in New York with the financial market. Wallenberg was our dinner speaker, and he congratulated us on 'growing up' and becoming the 2nd largest European chamber of commerce in the U.S.," said Gunilla Girardo, president of SACC-USA.

Edays was created so that companies can better and more easily find business partners. More than 430 business leaders, entrepreneurs, economic developers and government officials met at SACC-USA’s Entrepreneurial Days in Stockholm September 15 – 16, 2008 with one common goal: Increase trade, commerce and investment between across the Atlantic. Nearly 130 of the 430 Edays participants came from the U.S. The largest delegations came from the state of Georgia, California and the City of Rockford. Nearly 800 business matchmaking meetings took place during the two-day event.

But most importantly the results when it comes to new business relations, partnerships, investments, government- and academic exchange seem very promising.

Rockford based company Leading Edge Hydraulics signed a Memorandum of Understanding with Lidköping-based Jimec during the Stockholm Edays. Production in Lidköping is expected to begin within six months.

Doug Pennington, Executive Dir., of Private Capital Network, California’s fastest growing angel investor association announced during the Edays that he plans to open an office in Stockholm in the near future. He says that his members have a positive look on international investments and are very anxious to see what’s in Sweden.

Sandy Baruah, Assistant Secretary of Commerce for Ec. Development, U.S. Dept. of Commerce said that: “The Edays provides the best possible conditions for international expansion. The United States has a lot to learn from Sweden especially in terms of economic development, where Swedish companies are excelling at internationally.”

Ross Harding, Sr. Adviser for the Herty Advanced Materials Development Center, which specializes in commercializing clean tech observed that: "In the next few years, the U.S. will probably be the largest business opportunity worldwide for renewable energy considering all current changes socially, financially and politically. Sweden is a small country, it's uniquely positioned and respected with very high quality and world-leading technology. And, this is what we want to combine, excellent technology with the largest market in the world.”

As always the Edays program featured many prominent speakers and experts including: Michael M. Wood, Ambassador of the U.S. To Sweden; Nikolaus Weil, Chairman & Managing Partner of Berlin Atlantic Holding; Richard Savage, Dir. of Business Development, Qualcomm Europe; Ross Harding, Sr. Advisor, Herty Advanced Materials Development Center; Sandy K. Baruah, Assistant Secretary Of Commerce for Economic Development, U.S. Dept. of Commerce; Svante Forsberg, Chairman, Deloitte; Gunnar Wieslander, State Secretary, Ministry of Foreign Affairs; Jacob Wallenberg, Chairman, Investor; James F. Blom, Senior Adviser, Veritainer Corp.; Thomas L. Siebert, Former Ambassador of the U.S.to Sweden, Shareholder Greenberg Traurig; Lars Bjerde, Sr. VP of Saab Technologies; Anders Kuikka, Managing Partner, EIM Scandinavia; Christian Johansson, CEO, Greater Baltimore Business Alliance, Commerce; Donald G. Mckeny, Founder & President, Mardon International Healthcare Services; Doug Pennington, Executive Director, Private Capital Network; Dr. Christina Lampe-Onnerud, CEO Boston-Power; Dr. Lars Gatenbeck, General Partners & CEO, GZ Group; Eduardo Ibacache Rodriguez, Entrepreneur, Visionary & Human, Futureprovider; and Kent Sander, Sr. Partner & Investment Manager, Brainheart Capital.

Mark your calendars, for the next Edays which will take place in Savannah, GA, April 20 – 22, 2009. The theme for Savannah Edays is ‘Accessing Capital Growth for a Sustainable Future” featuring industry deep dives in Clean Technology/Renewable Energy, Logistics, Industrial Design and Digital Media.

 For more information visit www.sacc-edays.org/savannah