IKEA's top tips for startups
Since 2022, KTH Innovation has been working to create closer collaboration between startups and industry. Last week, IKEA visited campus to share how they work with innovation, meet startups, and explore research environments. Linda Wilkens, Robert Carleke, and Samah el Hage from Inter IKEA and Innovation Ventures shared their thoughts with KTH Innovation’s Marcus Dahllöf.
What made you want to visit KTH?
Robert Carleke: We have previously worked with universities and research, but mainly with universities close to IKEA’s headquarters in Älmhult. KTH is a bit further away, but we see it as one of the best universities in Sweden, Europe, and the world. We believe it makes perfect sense to engage with KTH, especially given your focus on fostering entrepreneurs who can contribute to the industry. We see this collaboration as an opportunity to gain new perspectives and work with young talents.
You mentioned quantum technology during your presentation for students and researchers at KTH. What opportunities do you see in this area?
Linda Wilkens: One of the major opportunities we see with quantum computing is the development of materials, which account for a significant part of our climate footprint. If there is technology that can improve this in the future, we want to be aware of it so we can plan accordingly. We have discussed possibilities in areas such as surface treatments, self-healing materials, and new types of bioplastics.
Initially, it will be expensive, but this is where large companies are needed to make the technology scalable. We believe the future will involve a balance between quantum and classical computers to reduce costs and find the right applications.
How can you support startups, and how do you hope they can contribute to your business?
Robert Carleke: What we can offer startups is, of course, funding to help them scale up. But perhaps even more importantly, we can explain our demands. We know what it takes to scale up an idea and make it accessible to many people. Many startups we have worked with say that it was only when IKEA got involved that they truly understood what was required for scaling up.
Marcus Dahllöf: From KTH’s perspective, we see scaling as a major challenge. You have industry expertise, and we have technical knowledge, but we need to understand where our solutions can be applied. Just sharing your insights is valuable, even if you don’t invest directly.
Do you have any tips for students or researchers who want to create new solutions?
Robert Carleke: Yes, an important tip is to focus on the application. Many startups have exciting ideas but lack a clear understanding of how they can be used in industry. That’s why it’s crucial to narrow your focus and find a concrete application.
Samah el Hage: Many startups get stuck in a specific solution and are afraid to change it. Being flexible and adapting your idea can be crucial for success.
How do you see the collaboration moving forward?
Marcus Dahllöf: Long-term commitment is key. Innovation takes time, and we need to build relationships to make it sustainable.
Linda Wilkens: We want to have an ongoing dialogue and regular insights from the startup scene to understand the opportunities that exist. That way, we can be involved early and support at the right stage. We look forward to continuing to learn and identifying new collaborations, especially in areas such as quantum technology, sustainable materials, and digital innovations.
Shared with Lisa Bäckman
About Inter IKEA and Innovation Ventures
IKEA offers well-designed, functional and affordable, high-quality home furnishing, produced with care for people and the environment. There are several companies with different owners, working under the IKEA Brand, all sharing the same vision: to create a better everyday life for the many people. IKEA was founded in Sweden in 1943. Inter IKEA is the franchisor in the IKEA system - responsible for the product design and development, supply chains and retail concept.
Innovation Ventures at Inter IKEA is the corporate venture capital arm of Inter IKEA Group. We make strategic investments in innovative companies and build strategic partnerships and collaborations with corporations and academia. As a corporate venture unit, Innovation Ventures aims to support the organisation by identifying and accelerating innovation and supporting early-stage companies to scale and commercialise. We are driven by the IKEA vision and values; to act on challenges and explore opportunities and to create a home furnishing business that is better for both the planet and the many people.