The super entrepreneur: “Having access to higher education is a privilege”
“One mistake I think many people make is having preconceived ideas about the things they like. The world is an interesting place. I studied chemistry, but I could just as easily have studied any other subject. It’s all a matter of having the attitude that what you learn about and immerse yourself in is exciting," says Saeid Esmaeilzadeh, CEO of investment company EHAB – Esmaeilzadeh Holding.
Saeid Esmaeilzadeh studied chemistry and history of religion at Stockholm University in the early and mid-1990s. He started his research career at the age of 21 and publicly defended his doctoral thesis in materials chemistry in 2000. He became Sweden’s youngest associate professor two years later, at the age of 28.
“One of the things I like most about chemistry is that you get to experiment a lot. After completing my doctorate, I did a postdoc in Munich before returning to Stockholm University to continue my research. I started running a business alongside my research.”
Failed experiment led to unexpected discovery
A failed research experiment in the university lab led to the discovery of a completely new material with fascinating properties: silicate glass. Saeid Esmaeilzadeh, together with economist and close childhood friend Ashkan Pouya, applied for a patent for the material and started a company known as Diamorph. The combination of Saeid’s research background and Ashkan’s business background was a success. In 2004 they founded the investment company Serendipity Group, which identified, founded and developed a number of companies based on academic research.
Although Saeid’s business career has focused mainly on finance and entrepreneurship rather than chemistry, he perceives value in his earlier university studies.
“Academic studies teach you how to discuss and argue, how to think critically, exchange ideas and debate. This is very useful to entrepreneurs at the conceptual stage of various projects and businesses.”
“We often take on students as apprentices. They have a lot to offer and tend to be open and naive – fantastic qualities for entrepreneurship.”
Parents sacrificed everything for the right to free thought and opinion
For Saeid, however, the most important reason to study is the fact that higher education is available to everybody in Sweden. He was born in Iran, and his family was forced to flee the regime there when he was eight years old. After a journey filled with life-threatening hardships, they arrived in Sweden and eventually ended up in the Stockholm suburb of Husby.
There are people in the world who’d sell one of their kidneys to get an education.
“We had literally nothing but the clothes on our backs when we arrived,” explains Saeid. “I know what my parents sacrificed so that I have the right to free thought and opinion. What’s more, education is free in Sweden. There are people in the world who’d sell one of their kidneys to get an education.”
Bullying and top grades
Growing up in Sweden with a different background to your classmates wasn’t easy. Saeid excelled in all subjects too, and was bullied in school.
“I wasn’t aware of the social codes that your parents usually teach you. And on top of that, I was a bit of a swot. But I’ve never wanted to play the victim and feel sorry for myself. Life’s a bitch, and you have to make the best of what you have.”
“I remember one of my PE teachers, Tommy. He was from a migrant background himself, and he said to me, ‘Saeid, you’ll always have to work twice as hard as everyone else if you want to get anywhere.’ That was the best thing anybody could have said to me,” says Saeid.
“Whether you’re Swedish or an immigrant, you can become a chemist if you want to. That’s just the way it is. It’s all a matter of getting your shit together.”
Running a company with his sister
He now runs the investment company EHAB – Esmaeilzadeh Holding together with his sister, Mouna Esmaeilzadeh. This is a family business that was founded by the two siblings in 2020. The entrepreneurially driven business comprises a handful of companies and focuses on investing in and developing companies with long-term sustainability in selected niche industries. The 2022 financial statements showed a net asset value of around SEK 7.6 billion.
“Right now, we’re very active in the IT sector, for example,” says Saeid. “We’re already working with a lot of European countries and are looking to expand further in Europe. I think we’ll have a good foothold in North America in five years’ time, too. We try not to cooperate with countries that violate the rule of law.”
IQ and personality tests
When it comes to collaborating on a personal level, Saeid believes that by far the most important thing is to select really smart people. He doesn’t rely on his gut instinct when taking people on, but bases his judgement on the outcomes of IQ and personality tests.
“When I welcome a new employee, I also ask them to be open and honest with me if they want to do something else one day and move on. If they do that, I’m happy to help them. I don’t understand people who get upset and offended because their staff resign. There’s something beautiful about helping people find their own way in life.”
Important to face fears and be bold
Saeid reckons that it’s important for anyone who wants to become an entrepreneur to have a clear idea of what their company is going to deliver. He perceives no intrinsic value in more students becoming entrepreneurs, for instance. However, he thinks that anyone who has the will and the desire to start a business should definitely be brave and give it a try. It’s a shame if people are held back by being afraid to fail.
Saeid doesn’t rule out a return to academia and research at some point in the future. However, he is a bit concerned about the climate of debate there, as well as in society in general. What his parents sacrificed everything for – the right to free thought and opinion – no longer seems to be all that self-evident.
“Some thoughts are best left unsaid, and a lot of people are very easily offended. I’m thinking of the quotation usually associated with 18th century French philosopher Voltaire: ‘I wholly disapprove of what you say and will defend to the death your right to say it.’
“I don’t think there’s a single good idea that hasn’t offended someone in some way.”
Last updated: December 1, 2023
Source: Student Services