The best startup accelerator in Sweden STING
Previously, I discussed how the Swedish government supports business activities. The government has also been geared toward supporting the startup scene because they believe it will help generate job opportunities and tax revenues at the end of the day. Therefore, many of startup developers are founded by public organizations in Sweden.
STING
STING – Stockholm Innovation & Growth – is one of the largest startup accelerators in Sweden. In 2002, STING was founded by several institutions, including Ericsson, KTH and the City of Stockholm.
STING has helped Sweden’s tech firms grow, improve international competitiveness and generate export revenues to Sweden. They offer a number of opportunities for business development, financing, recruitment and networking by providing programs and organizing events.
Program
Photo: http://digital.di.se
STING has offered two programs,
・STING Incubate (for early stage startups)
・STING Accelerate (for startups who might already have a team or product)
With these programs, they have supported over 150 startups for more than a decade by providing their extensive knowledge of how to succeed. You will be coached by experienced entrepreneurs.
Additionally, a huge network will be given, so you will be able to work alongside Stockholm’s most promising startups in a vibrant environment where future businesses grow.
| Program / content | STING Incubate | STING Accelerate |
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| World class coaching and business development |
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| Methodology |
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| Support in finding financing and investors | Absolutely! We help you to find investors and support you through the whole process.
> Learn more about financing | Absolutely! We help you to find investors and support you through the whole process.
> Learn more about financing |
| Help to broaden your network of investors and business contacts | Yes, the same access to the network for both programs. | Yes, the same access to the network for both programs. |
| Help with recruitment of team members | Yes, same recruitment support for both programs. | Yes, same recruitment support for both programs. |
| Free office space | Yes, in Kista and at THINGS for 6 months. | Yes, at SUP46 during the program. |
| Events and activities | A wide variety, including Demo Day and our annual event STING Day. | A wide variety, including Demo Day and our annual event STING Day. |
| ”Perks” – fantastic offers from partners | Yes, same perks for both programs. | Yes, same perks for both programs. |
| ”Graduation” | Demo Day | Demo Day |
| Examples of startups that have been through the program | Volumental, Watty, Yubico, Videoplaza, Barnebys, Diamorph, Midsummer, Unomaly > Read more about STING companies here | Relation Desk, Peppy Pals, Poppermost (SNOW), Codarica, Qasa, Sellpy, Mondido > Read more about STING companies here |
| Who can apply? | You have a business idea that:
Your product/service shouls be ready to launch in 6-12 months. > Interested? Tell us about your business idea by contacting one of our business coaches | You have:
> Interested? Check out the key dates for the application. |
Source: STING
STING TEST DRIVE
Photo: H2 Health Hub
STING Test Drive is a free practical training program for early-stage startups in all industries, digital/internet/media, health/life science, cleantech/sustainabilty, fintech, etc, that want to get support to sharpen, internationalize and scale their businesses. Sting likes to see well-mixed teams by gender with two to three people.
In the STING Test Drive, theory is mixed with practice where expert entrepreneurs inspire and help you stake out a path forward. The program consists of 4 workshops which run in the evenings.
Between meetings, tasks are provided and you will work on them with STING’s experienced coaches. In the final workshop, all teams will present their startups/projects and the ”Best pitch” is selected.
The STING Test Drive program focuses on business-critical areas: business models, sales strategies, barriers to entry, internationalization, financing options, leadership etc.
4 Workshops
WS 1: Startup challenges
– Lean Canvas
– Startup challenges
– Customer segment
– Customer meeting
WS 2: The crying customer
– The crying customer
– Sales
– Value proposition
– Minimum viable product (MVP)
WS 3: Financing
– Financing
– Budget
– Lean in practice
– Team
WS 4: Final
– Pitch final
STING DAY
STING DAY is a event aimed at connecting Swedish tech startups with investors from all over the world. This year STING DAY happened on May 11th.
STING Day will gather 60 of Sweden’s hottest tech startups and more than 150 investors from over 10 countries — a carefully curated mix of 400 talented people for excellent, high-quality networking.
Results
Since the company was founded in 2002,
Total number of evaluated projects/companies: 2,584
Number of projects/companies accepted 209
Total company value: 527 MEUR
Acc. publicly invested capital in STING companies: 111 MEUR
Acc. private invested capital in STING companies: 358 MEUR
Numbers employed 2015: 1,532
Revenue 2015: 155 MEUR (of which 79% from export)
Number of acquired companies: 6
(Source: STING)
If you have a business idea and aspire to develop it, STING will help you realize it with their extensive knowledge and experience.
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