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	<title>Currents</title>
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	<link>http://sacc-usa.org/currents</link>
	<description>The Online Magazine of the Swedish-American Chambers of Commerce</description>
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		<title>SACC-USA is looking for a new Special Director for SACC USA Young Professionals</title>
		<link>http://sacc-usa.org/currents/business/sacc-usa-is-looking-for-a-new-special-director-for-sacc-usa-young-professionals/</link>
		<comments>http://sacc-usa.org/currents/business/sacc-usa-is-looking-for-a-new-special-director-for-sacc-usa-young-professionals/#comments</comments>
		<pubDate>Tue, 15 May 2012 14:36:36 +0000</pubDate>
		<dc:creator>Emmy Melander</dc:creator>
				<category><![CDATA[Business News]]></category>
		<category><![CDATA[May 2012: SACC-Summit]]></category>
		<category><![CDATA[Christopher Westerlund]]></category>
		<category><![CDATA[job ad]]></category>
		<category><![CDATA[SACC-USA board of directors]]></category>
		<category><![CDATA[Special director]]></category>
		<category><![CDATA[Young Professionals]]></category>
		<category><![CDATA[YP]]></category>

		<guid isPermaLink="false">http://sacc-usa.org/currents/?p=5758</guid>
		<description><![CDATA[SACC-USA Young Professionals (SACC USA YP) was founded by Christopher Westerlund, previous Special Director, and built together with previous and currents SACC-USA leaders in order to attract, develop and secure the retention of our youngest talents and future leaders in the network. SACC-USA YP is today established in several chambers around the USA as well as on two locations in Sweden. We are now looking for a new Special Director for the member category Young Professionals. 

]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Countdown to SACC Summit: Matias Bonnier of SACC-Ohio</title>
		<link>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-matias-bonnier-of-sacc-ohio/</link>
		<comments>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-matias-bonnier-of-sacc-ohio/#comments</comments>
		<pubDate>Wed, 09 May 2012 17:52:48 +0000</pubDate>
		<dc:creator>Currents Online</dc:creator>
				<category><![CDATA[May 2012: SACC-Summit]]></category>

		<guid isPermaLink="false">http://sacc-usa.org/currents/?p=5742</guid>
		<description><![CDATA[As a lead up to the first ever SACC Summit, Currents is running an interview series to shine light on each of the regional chambers by profiling a few of the dozens of amazing volunteers that donate their time to SACC every year. Each of the interviewees is one of the experienced and hard working people that make our network tick, but still only represents a small fraction of the talent that SACC has at its disposal. If you are interested in joining your local SACC chamber, check out their website, reach out to a board member, and get involved. Name: Matias Bonnier Chamber: SACC-Ohio Matias Bonnier has been a part of SACC-Ohio since its official founding in 2006. He is a self-proclaimed Swedish-American “hybrid”.  He was born inCaliforniato Swedish parents who later moved back toSweden.  Matias returned later to theUSto finish High School.  He then continued on and received his Mechanical Engineering degree fromSyracuseUniversityas well as  his MBA in Operations Management from the Weatherhead School of Management atCaseWestern ReserveUniversityinCleveland,Ohio. Matias initially got involved with SACC when he was invited by the Swedish Consul in Cleveland, Michael Miller, to explore the possibility of starting a new SACC Chapter. During the [...]]]></description>
		<wfw:commentRss>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-matias-bonnier-of-sacc-ohio/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Countdown to SACC Summit: Lotta Alsén of SACC-Greater Los Angeles</title>
		<link>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-lotta-alsen-of-sacc-greater-los-angeles/</link>
		<comments>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-lotta-alsen-of-sacc-greater-los-angeles/#comments</comments>
		<pubDate>Tue, 24 Apr 2012 16:44:53 +0000</pubDate>
		<dc:creator>Currents Online</dc:creator>
				<category><![CDATA[May 2012: SACC-Summit]]></category>
		<category><![CDATA[Lotta Alsén]]></category>
		<category><![CDATA[SACC Summit]]></category>
		<category><![CDATA[SACC-GLA]]></category>

		<guid isPermaLink="false">http://sacc-usa.org/currents/?p=5719</guid>
		<description><![CDATA[As a lead up to the first ever SACC Summit, Currents is running an interview series to shine light on each of the regional chambers by profiling a few of the dozens of amazing volunteers that donate their time to SACC every year. Each of the interviewees is one of the experienced and hard working people that make our network tick, but still only represents a small fraction of the talent that SACC has at its disposal. If you are interested in joining your local SACC chamber, check out their website, reach out to a board member, and get involved. Name: Lotta Alsén, President Chamber: SACC-Greater Los Angeles (SACC-GLA) Lotta Alsén, a seasoned entrepreneur and CEO, came in contact with SACC in 2002, just after she had moved to the US, which was when she joined the board of SACC San Francisco for two years. She moved to LA in 2006, and decided to get involved again with SACC in 2009, which was the same year she was elected President of SACC Greater Los Angeles. Professionally, she’s building a computer game, Quickenings Warrior Game, within the field of Games for Change, a game focused on creating better leaders and hopefully [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>One Person’s Trash is Another’s Power: Lessons from Sweden’s Waste-to-energy Industry</title>
		<link>http://sacc-usa.org/currents/misc/one-persons-trash-is-anothers-power-lessons-from-swedens-waste-to-energy-industry/</link>
		<comments>http://sacc-usa.org/currents/misc/one-persons-trash-is-anothers-power-lessons-from-swedens-waste-to-energy-industry/#comments</comments>
		<pubDate>Mon, 23 Apr 2012 20:31:21 +0000</pubDate>
		<dc:creator>Addison Larrow</dc:creator>
				<category><![CDATA[Misc.]]></category>
		<category><![CDATA[Success Stories]]></category>
		<category><![CDATA[CleanTech]]></category>
		<category><![CDATA[George Washington University]]></category>
		<category><![CDATA[waste-to-energy]]></category>

		<guid isPermaLink="false">http://sacc-usa.org/currents/?p=5727</guid>
		<description><![CDATA[Sweden has long been an established leader in the cleantech industry and is regularly ranked among the greenest countries in the world. It ranks #3 on the Global Cleantech Innovation Index and is currently hosting Stockholm+40, an international conference on sustainable development. In a report recently produced for the American Council on Renewable Energy (ACORE), Matt Williams examines the potential for transferring Swedish cleantech waste-to-energy practices to the United States. As part of his studies at the George Washington University School of Business, Matt worked on a consulting project focused on examining the market feasibility of various Swedish clean technologies in the United States (for more information on the program see our previous article here and the program&#8217;s official website here). For the project, Matt visited Sweden and toured several cleantech companies and learned about their operations. His continued interest in Sweden’s cleantech sector lead to his internship work with ACORE researching the transferability of Sweden’s waste-to-energy model to the American market. While there are multiple ways of converting waste to energy, the report focuses primarily on energy recovery from household wastes. &#160; Briefly explain how you came to do the consulting project in Sweden. Did you pick the program? If [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Sweden&#8217;s Most Pop-ular Export</title>
		<link>http://sacc-usa.org/currents/business/swedens-music/</link>
		<comments>http://sacc-usa.org/currents/business/swedens-music/#comments</comments>
		<pubDate>Fri, 20 Apr 2012 13:49:02 +0000</pubDate>
		<dc:creator>Addison Larrow</dc:creator>
				<category><![CDATA[April 2012: Creative Industries]]></category>
		<category><![CDATA[Business News]]></category>

		<guid isPermaLink="false">http://sacc-usa.org/currents/?p=5652</guid>
		<description><![CDATA[Friends, Swedes, countrymen, lend me your ears. I want to tell you the story of Sweden, and how it shapes the music world.

 ]]></description>
		<wfw:commentRss>http://sacc-usa.org/currents/business/swedens-music/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Countdown to SACC Summit: David W. Engstrom of SACC-Philadelphia</title>
		<link>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-david-w-engstrom-of-sacc-philadelphia/</link>
		<comments>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-david-w-engstrom-of-sacc-philadelphia/#comments</comments>
		<pubDate>Fri, 20 Apr 2012 13:42:00 +0000</pubDate>
		<dc:creator>Currents Online</dc:creator>
				<category><![CDATA[May 2012: SACC-Summit]]></category>
		<category><![CDATA[David Engstrom]]></category>
		<category><![CDATA[SACC Summit]]></category>
		<category><![CDATA[SACC-Philadelphia]]></category>

		<guid isPermaLink="false">http://sacc-usa.org/currents/?p=5654</guid>
		<description><![CDATA[As a lead up to the first ever SACC Summit, Currents is running an interview series to shine light on each of the regional chambers by profiling a few of the dozens of amazing volunteers that donate their time to SACC every year. Each of the interviewees is one of the experienced and hard working people that make our network tick, but still only represents a small fraction of the talent that SACC has at its disposal. If you are interested in joining your local SACC chamber, check out their website, reach out to a board member, and get involved.]]></description>
		<wfw:commentRss>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-david-w-engstrom-of-sacc-philadelphia/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>SACC-Carolina Symposium Recap</title>
		<link>http://sacc-usa.org/currents/business/sacc-carolina-symposium-recap/</link>
		<comments>http://sacc-usa.org/currents/business/sacc-carolina-symposium-recap/#comments</comments>
		<pubDate>Thu, 19 Apr 2012 13:55:51 +0000</pubDate>
		<dc:creator>Currents Online</dc:creator>
				<category><![CDATA[Business News]]></category>
		<category><![CDATA[SACC-Carolina]]></category>

		<guid isPermaLink="false">http://sacc-usa.org/currents/?p=5646</guid>
		<description><![CDATA[The reason why so many things are left undone is fear; fear of failure, fear of the unknown.  This is due in part to ignorance played upon by myth and conjecture.  SACC-Carolinas took it upon itself to help to allay these fears with factual and knowledgeable information presented in symposium form to interested groups on the 22nd of March 2012 inCharlotte,North Carolina at the law offices of Moore Van Allen in Bank of America Tower. The symposium included organizations from multiple countries to show the vagaries of international business development but also the many similarities.  The target countries wereGermany,RussiaandSweden.  SACC-Carolinas partnered with the Russian-American Business Council and the German Language and Cultural center to organize an afternoon International trade and business symposium. The goal of this symposium was two-part, discussing what foreign companies need to know when coming to the US to do business and also what US companies need to know if they are to export products and services or expand abroad.  This symposium was unique particularly for SACC as it is the first time this type of dual focus symposium has been conducted.  Too often trade conferences focus only on attracting companies to the particular location where they [...]]]></description>
		<wfw:commentRss>http://sacc-usa.org/currents/business/sacc-carolina-symposium-recap/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Countdown to SACC Summit: Nils Welin of SACC-San Francisco/Silicon Valley</title>
		<link>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-nils-welin-of-sacc-san-franciscosilicon-valley/</link>
		<comments>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-nils-welin-of-sacc-san-franciscosilicon-valley/#comments</comments>
		<pubDate>Fri, 06 Apr 2012 18:42:48 +0000</pubDate>
		<dc:creator>Currents Online</dc:creator>
				<category><![CDATA[May 2012: SACC-Summit]]></category>
		<category><![CDATA[Nils Welin]]></category>
		<category><![CDATA[SACC-SF/SV]]></category>
		<category><![CDATA[SACC-Summit]]></category>

		<guid isPermaLink="false">http://sacc-usa.org/currents/?p=5635</guid>
		<description><![CDATA[As a lead up to the first ever SACC Summit, Currents is running an interview series to shine light on each of the regional chambers by profiling a few of the dozens of amazing volunteers that donate their time to SACC every year. Each of the interviewees is one of the experienced and hard working people that make our network tick, but still only represents a small fraction of the talent that SACC has at its disposal. If you are interested in joining your local SACC chamber, check out their website, reach out to a board member, and get involved.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Countdown to SACC Summit: Benedikt Ibing of SACC-Georgia</title>
		<link>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-benedikt-ibing-of-sacc-georgia/</link>
		<comments>http://sacc-usa.org/currents/currents-special-editions/sacc-summit/countdown-to-sacc-summit-benedikt-ibing-of-sacc-georgia/#comments</comments>
		<pubDate>Wed, 04 Apr 2012 18:25:47 +0000</pubDate>
		<dc:creator>Currents Online</dc:creator>
				<category><![CDATA[May 2012: SACC-Summit]]></category>
		<category><![CDATA[Benedikt Ibing]]></category>
		<category><![CDATA[SACC Georgia]]></category>
		<category><![CDATA[SACC Summit]]></category>

		<guid isPermaLink="false">http://sacc-usa.org/currents/?p=5626</guid>
		<description><![CDATA[As a lead up to the first ever SACC Summit, Currents is running an interview series to shine light on each of the regional chambers by profiling a few of the dozens of amazing volunteers that donate their time to SACC every year. Each of the interviewees is one of the experienced and hard working people that make our network tick, but still only represents a small fraction of the talent that SACC has at its disposal. If you are interested in joining your local SACC chamber, check out their website, reach out to a board member, and get involved.]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Klarna – The Art of Investment Seduction</title>
		<link>http://sacc-usa.org/currents/business/klarna-the-art-of-investment-seduction/</link>
		<comments>http://sacc-usa.org/currents/business/klarna-the-art-of-investment-seduction/#comments</comments>
		<pubDate>Thu, 22 Mar 2012 15:49:24 +0000</pubDate>
		<dc:creator>Emmy Melander</dc:creator>
				<category><![CDATA[Business News]]></category>
		<category><![CDATA[March 2012: Investment]]></category>
		<category><![CDATA[Success Stories]]></category>
		<category><![CDATA[angel]]></category>
		<category><![CDATA[angel investor]]></category>
		<category><![CDATA[Klarna]]></category>
		<category><![CDATA[Sebastian Siemiatkowski]]></category>
		<category><![CDATA[Venture Capital]]></category>
		<category><![CDATA[Victor Jacobsson]]></category>

		<guid isPermaLink="false">http://sacc-usa.org/currents/?p=5615</guid>
		<description><![CDATA[The Swedish success story Klarna is well on its way to making the online world buyable. Founded in 2005 the company is already established in 6 countries and has grown by at least 100% every year since their start. Norway, Finland, Denmark, Germany and Holland conquered in half a decade, and the publicity surrounding them has been immense. Meet founder and Chief Business Developer (CBDO) Victor Jacobsson and learn more about their plans in the US and the art of attracting investors.

Engage

For the few of you who have missed this wonder, Klarna offers simple and safe payment solutions for online shoppers and simultaneously increase sales for online retailers. Simply put the service lets the consumer pay online after he/she have received their product. In the meantime Klarna secures the payment to the retailer.

The company currently has more than 600 employees in northernEurope. Only settling for the best system developers and engineers, they are now struggling to find the knowledge and competency they need to continue growing at their current rate. Their quest for the best led them to acquire a company inIsraelwhere they now have a fully developed research and development organization. Relations from the acquisition in the Middle East inevitably led them onto Silicon Valley, where they now recently have established their second development center, all in order to supply the company in Stockholm with necessary brain power to make a growing part of the online world buyable.

Being a financial company, essentially offering credit to customers, Swedish law requires a capital cover rate of 10%, making the balance sheet of this highly expanding company, an apparent issue for continued growth. “We have made profit ever since December of 2005. Taking in investors was rather a question of growing fast or growing faster”, says Victor Jacobsson. Ever since meeting Mats Qviberg, from the Swedish investment company Öresund, in the incubator stage of their venture, the three founders of Klarna have been blessed with good investor relations. Initially they offered equity in return for cash but also received the services of a business angel, for example finding new developers. The initial investment from Öresund suited the entrepreneurs well due to the investment company’s good reputation, combined with their apolitical nature.

“Investors all seem to know each other”, says Victor. “Either they talk to each other and share their insights, or they all get their information from the same place, or both. I would like to think that strategic PR and continuous contact with journalists is a major part of attracting investors. Good news travels fast, and blogs, industry magazines, awards, they all reach investors. Once we had made a name for ourselves, we had over 30 influential investors who were interested.”

Select

“Important to know when you are dealing with investors is that you are dealing with people”, says Victor. “You have to agree and sympathize with the person you are about to partner with, and that person has the share your view of the company and where it is going.” Further he encourages the entrepreneur to take references on your investor and be sure to agree in detail what the money is for, before agreeing to anything.

“At Klarna we were very clear on that no investor would get any special treatment. Something that we otherwise believed could possibly lead to troubling and varying incentives among the investors. The demands we put on our investments however was partly possibly because of our strong financial position and our track record,” continues Victor.

With present board members such as Eva Cederbalk, SBAB, Eurocard and Netgiro International, SEB and If, Michael Moritz, Partner in Sequoia Capital, and Klaus Hommels, owner of the Swiss Hommels Holding, and investors such as Sequouia, DST Global and general Atltantic, Klarna not only has the necessary resources to keep the balance sheet growing, but also an enormous amount of knowledge and contacts. Therefore Victor is not the least bit concerned about their establishment in Silicon Valley.

“We do want to reach out to the Swedish-American Chambers of Commerce for help with the U.S. government in for example Visa administration for our mobile employees, even though we have secured a great network through our investors”, says Victor Jacobsson.

When USA?

On the question of whether they plan on entering theU.S.with a sales office anytime soon, Victor comments that theU.S.is a huge and extremely diverse market that would acquire more attention than they can offer right now. They are presently focusing onEuropewhere there are still major opportunities to dig into.

 

To learn from the memorizers go to Klarna.com
]]></description>
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