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NEWS June 19, 2014

Three STING startups among the spring VINN NU companies 2014


Yesterday, 15 innovative start-ups were selected to receive funding of 300 000 SEK each in Vinnova’s VINN NU initiative. Among those selected were three STING companies: Spontano, which helps users to find last-minute events; Codarica, which develops fun educational resources for children that teach them programming; and 30minMBA, which produces 30-minute summaries of great business books for your mobile phone.

− It’s fantastic that several of our companies obtain support again from Vinnova. The VINN NU contributions mean a lot in these early stages and we are very much looking forward to the results of the financing and the entrepreneur’s passion and hard work in building successful global companies, says Pär Hedberg, founder and CEO of STING (Stockholm Innovation & Growth).

30minMBA, which summarizes the best business books in audio and text for your mobile phone and makes it possible to apply the core of them within 30 minutes, is in an exciting phase planning for an international launch.

− It feels great to get 300,000 crowns as leverage to go to market. During the summer, we are launching a closed beta for iOS and this fall we will launch the service for a global market. The money from Vinnova will help us take the first steps outside Sweden, says Therese Gedda, founder and CEO of 30minMBA.

Codarica, the company behind the characters Cody Coder and Holly Hacker, has completed a working prototype that they are now testing on fourth graders in Östermalmsskolan, among others.

− The funding and support from Vinnova will help us reach our goal with the launch of our first app. This will enable more children around the world to learn how to code, says Sanna Nilsson, co-founder and CEO of Codarica.

The third STING company that received VINN NU funding was Spontano. The company helps users to be more spontaneous by listing and selling tickets to events happening within 48 hours.

− We are incredibly excited! Vinnova gives us both a mark of quality and the means we need to work even harder. With their support, we will build a strong position in Stockholm and prepare for international expansion, says Ludwig Linse, co-founder and CEO of Spontano.

VINN NU targets startups less than a year that have developed or is in the process of developing a unique and innovative product, process, or service that is not yet on the market. Vinnova and Energimyndigheten (the Swedish Energy Agency) stand behind the initiative. The aim is to make it easier for start-ups to prepare and clarify early and significant development projects. This is to enable companies to develop, find subsequent financing and eventually become successful Swedish companies. VINN NU started in 2002 and has since been held annually, and annually about 20 companies are appointed.