Baffin Bay Networks: Increased digitalization - increased demands on cybersecurity

In a world where more and more people are connected and increasingly digitized, there are increased demands for security and various digital security solutions. A major challenge today is that all crimes that exist and are committed in the physical world have a counterpart in the digital world, where both the volume and complexity of crimes are increasing. At the same time, there is a lack of expertise in how to combat cybercrime.

- Therefore, we at Baffin Bay believe that the only way to address this is to produce a service. A digital security company similar to a Cyber-Securitas," says Stefan Lindeberg, Chairman of the Board, Baffin Bay Networks.

Skills shortages a problem

Developing new and innovative security solutions requires skills. Skills that are in short supply. If the future is to be met safely, more people must be recruited to the industry.

- We talk a lot about how we in Sweden should be international and intercultural. At the same time, I myself have not been able to recruit foreign staff from outside the EU with the narrow expertise I need. They don't get work permits because the immigration processes don't work. The process in place to shorten the time for expert immigration is built for big companies and start-ups do not qualify for that process. We need to stop talking and start acting if we are to bring excellence in specialized areas such as cybersecurity to Sweden," said Stefan Lindeberg.

Additional challenges

There are good opportunities for those who want to start a company today as there is relatively much capital available in early phases.

- For example, there is government money and grants to apply for and favorable loans available. In addition, there are a lot of venture capital investors looking for new companies," says Stefan Lindeberg.

He continues:

- But then it stops. In the gap between start-up and big business, where you've proven your idea and profitability is growing, it can be tough. So taking that final step can be a problem.

The opportunity for Swedish Startups today

- However, I would say that the opportunities are greater than ever and this is due to a number of factors. First, it's about the role models. We have a successful generation of entrepreneurs from a range of companies like Spotify, iZettle and Skype. I would say that these become beacons for many others. Because just as you had Björn Borg as a tennis hero in the past, there are entrepreneurial heroes today," says Stefan Lindeberg.
- And it takes capital. The wave of success of Swedish companies has created a bunch of former entrepreneurs - people who previously invested their careers and, or, money in start-up companies that did well - and who now have capital and interest in investing in new companies. Of course, we also need people who want and dare to invest in entrepreneurship.

Entrepreneurs of the future

- I regularly give lectures at universities and colleges on entrepreneurship and startups, and there has never been a greater interest among both economists and engineers to work in startup companies. Instead of going to large international companies, as was previously the norm. All in all, this creates a good foundation, a fertile soil, for new startups to emerge and grow. I can also say that the number of startups with an international focus here in Sweden has never been higher," says Stefan Lindeberg.