Deeptech is trending as Sting kicks off 22 new startups
Today 22 new startups begin their journey with Sting. As the founders gather for the kickoff at A-house, the trend is clear: the group of deeptech companies is bigger than ever before, and among them a large proportion are female founders and CEOs. 9 out of 10 startups with high-tech innovations have at least one female founder and 6 out of 10 deeptech startups have a female CEO.
“Together with many other players in the ecosystem, we have worked very hard to pull out quality companies within the deeptech sector for several years. Finally, we see the results of that effort! It is particularly exciting to see that, despite a common prejudice about leadership, so many talented women are proving expertise as owners and CEOs,” says Raoul Stubbe, who has coached deep tech companies at Sting since 2006.
“I’d say this is a direct result of very focused work coming for several directions; investors have shown an increasing interest in both high technology and female entrepreneurs. Big influencing partners such as Vinnova and KTH have long worked strategically to bring on more women, and here at Sting, we set the goal of improving the gender balance in our founding teams in 2017. It is incredibly inspiring to have succeeded in that ambition, uniting so many talented women in the same program,” proceeds Raoul.
This year, the quality of the applications has been so impressive, Sting decided to take on more companies than usual. Nevertheless, fewer than 15% have been accepted to the fall 22 programs.
One of the 22 startups is CelluXtreme, which makes composite materials from bio-based, renewable raw materials.
“Our vision is to provide the world with a unique material concept, based on super strong fibers from nanocellulose. We have amazing research results and through Sting Incubate Deep tech we hope to get access to the expertise and network we need to develop a high-tech company,” said Anna Wiberg, CEO and co-founder of CelluXtreme.
Another startup joining Sting this fall is Mycomine, which develops biological treatment plants where fungi break down pollutants such as oils, diesel and plastics and turn them into biomass.
“We are in an intense phase right now, where we are scaling operations from a laboratory phase, in order to meet the needs of the market. We look forward to, together with Sting, sharpening our business model, to reach established industries with a new, innovative way of thinking,” said Magnus Ivarsson, CEO and co-founder of Mycomine.
CUBO has developed a solution for storing data in DNA.
“The amount of data generated in the world keeps on growing. The way we currently store data is not only very energy draining, and it is about to reach its physical limits. DNA is among the most information-dense molecules on our planet, it is extremely stable and requires very little energy to maintain. We at CUBO look forward to, with the help of Sting, taking steps forward in order to introduce the world to data stored in DNA,” saidCynthia Perez Estrada, co-founder of CUBO.
The following 22 companies have been selected for Sting’s fall program starting this week:
A digital financial advisor that, by the use of AI, helps consumers take control of their finances. The Alwy app compiles the finances and provides personal insights, advice and savings tips.
A bridge between waste and recycling of textiles. Beskow von Post gives textile waste new value through up-cycling and design and thus helps companies into the circular economy.
Lab-grown mini-brains for safer pharmaceuticals. BrainZell uses stem cell-based models that match the human brain better than that of animals. In this way, the pharmaceutical industry can test 100 times more molecules and at the same time reduce the testing on live animals.
Composite material from bio-based, renewable raw material. CelluXtreme’s unique technology spins strong fibers from 100% cellulose. The material is bio-based, renewable and produced in a water-based process using green chemistry.
CelluXtreme started at the Royal Institute of Technology with support from KTH Innovation.
A software solution that makes it possible to expand the capacity of grid equipment and provides a greater flexibility in operation and planning. DTR1’s solution helps improve network utilization by up to 20% and can potentially lower CAPEX for new installations by up to 40%.
DTR1 started at the Royal Institute of Technology with support from KTH Innovation.
Stores digital data in DNA. The world is approaching its physical limits for data storage, while data is being produced at an ever-increasing pace. CUBO has developed a way to store data in DNA, an opportunity to store incredibly large amounts of data, safely and sustainably.
An AI-powered app that helps the user overcome fear and social anxiety. FACING IT identifies user behavior and teaches evidence-based strategies to break patterns in order to live a richer life.
An app that makes it easy to buy and sell locally produced food. FarmUp connects food producers directly with the end consumer. By removingdistributors within the supply chain, FarmUp helps producers become more profitable and at the same time makes it easier for consumers, restaurants and grocery stores.
AI-based restaurant planning for more sustainable and profitable operations. Forkcast helps restaurant managers plan better to avoid food waste, costly misstaffing and late schedule changes. This with tailored sales forecasts using AI.
Data-driven decision support for cost-effective and future-proof transport electrification. Gordian provides charging point operators and logistics companies with tools for more optimized transport planning by analyzing millions of movement patterns.
Gordian started at the Royal Institute of Technology with support from KTH Innovation.
Sustainable solution for breaking down chemical waste such as oils. Mycomine offers MycoCube, a portable, biological cleaning device in which the active ingredient is microscopic fungus.
An app that enables private individuals and companies to rent out their existing charging points for electric cars. Reload’s platform aims to become the world’s largest sharing network of public charging points.
The digital office of the future for hybrid workplaces. Nock captures the elements of the physical office that many miss when working remote, such as ad hoc communication and the sense of belonging. This transparent platform makes it possible to see when coworkers are interacting or events occur, that one may want to participate in.
The digital assistant of the future that guarantees user privacy. OrganAIse helps the user structure their life, both professionally and privately.
The first medical app to relieve chronic, gynecological conditions such as PCOS. Ovulai’s digital, evidence-based health program helps women manage gynecological problems and prevent subsequent diseases.
Ovulai started at the Royal Institute of Technology with support from KTH Innovation.
Children’s products as a subscription service. Parently is a circular platform where parents can rent children’s products. Parently takes care of delivery, insurance, return and reconditioning and then sends the products on to the next sustainable family.
Makes self-employment simple.
Rebel Work simplifies the process of starting and running a company. By helping with everything from administration to finding assignments. The Rebelworks app helps customers visualize and optimize financial aspects the entrepreneur’s needs.
SaaS platform for the next generation of circular retail. With reCRQL, traders can operate their own trusted and data-rich secondary marketplace without having to develop their own platform.
Smart technology to activate children and young adults in order to help find balance in a digital world. SCRIIN develops products for schools, companies and families, that inspire more physical activity and healthy digital habits.
Silo Team is a Technical Documentation and Developer Onboarding platform.
A community that, with the help of AI and NLP, can help patients share experiences and find the right diagnosis faster. Sum Health uses modern text processing on patients’ health stories to help our healthcare system gain insights and become more patient-centric.
A new cost-effective, and patient-friendly way to diagnose UTI’s (urinary tract infection) that counteracts the increase in antibiotic resistance. Utilizer has developed a test for urinary tract infection that can be performed within the primary care, without having to be sent to laboratories, saving time and money, whilst ensuring that antibiotics are only used when necessary.
UTI-lizer started at the Royal Institute of Technology with support from KTH Innovation.
About Sting (Stockholm Innovation & Growth)
Announced The World’s Best Incubator/Accelerator in 2021, Sting helps entrepreneurs develop their business ideas into successful international growth companies with world-class business development support, recruitment, funding and networking. Sting has helped over 370 startups since 2002, 70 percent of which still continue to develop and grow.
Together, all Sting companies have a turnover of more than SEK 3.8 billion and they have combined created well over 3,400 jobs. The Sting companies have received more than SEK 9.9 billion in private capital.
Sting is also an active developer of the ecosystem in Sweden and co-founder of initiatives such as SUP46, THINGS, Ignite Sweden, Sweden Sustaintech Venture Day, Luminar Ventures and Propel Capital.
Sting alumni include: Yubico, Sellpy, Airmee, Surfcleaner, Midsummer, Worldfavor, Skrym and Karma, among others.