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Innovation by Sweden is an effort to nurture innovation and knowledge sharing between Sweden and Australia. Sweden has a vivid history of innovation since the 17th century and has been continuously ranked among the top countries renowned for Innovation in the world.

Many large Swedish companies e.g. Electrolux (1920s), SKF (1940), Atlas Copco (1950), Ericsson (1951), Sandvik (1961), Volvo Trucks (1967), Scania (1977), ABB (1993), IKEA (1970) are present and have a long history in the country and have been sharing their innovative processes with their Australian partners.