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NEWS October 7, 2020

20 teams selected to Test Drive Climate Action

Startup Climate Action is now continuing to its third phase, “Test Drive Climate Action”, with 20 carefully selected teams that are developing solutions to 13 different climate challenges.

The Startup Climate Action initative by Sting and Norrsken is a challenge-driven initiative that was launched in June 2020 consisting of four phases, aiming to accelerate the creation and growth of new innovative startups that help fight climate change. 

The first phase, “Ideation” attracted more than 1000 signups from 72 countries. Together, they formed close to 200 startup teams from which 52 got selected to the second phase, “Deep Dive”. After an intensive month of refining their business ideas, 49 of the 52 teams applied to the third phase, “Test Drive”. 

A jury consisting of representatives from Sting and Norrsken and selected Climate Champions has now chosen 20 of the 49 teams to join Test Drive Climate Action, a pre-incubator program where the participants will focus on testing and validating their business ideas. Twelve of the selected startups have hardware solutions and 17 of the teams are mixed gender, with 35% of the all team members being women. 

The fourth and final phase of the Startup Climate Action initiative, a Climate Accelerator run by Sting, will start in February 2021. Seven of the startups that applied to Test Drive will be invited directly to the pitch-finals for the Climate Accelerator.

“The original intention was to choose 13 startups for the Test Drive program – one for each for the 13 challenges. But the quality of the applications was really impressive and the jury had a very hard time choosing, so we ended up selecting 20 startups for the Test Drive program and seven startups that we will welcome directly to the pitch-finals for the Climate Accelerator.”, says Karin Ruiz, Deputy CEO of Sting and Startup Climate Action Lead. 

Sting has extensive experience from running Test Drive programs in a number of verticals. But this is the first time with a dedicated Climate Action Test Drive program, run in collaboration with Norrsken, and delivered in a hybrid physical and online format to enable participants from outside Stockholm and Sweden. 

“We are so excited to start the Test Drive together with these amazing teams. The fact that 49 out of 52 teams, with more than 200 team members from 20 countries, wanted to continue with us to the Test Drive – and that 85% of the teams are mixed gender – gives clear proof that this kind of challenge driven approach to attract individuals is working. “ says Henna Keränen, Program Manager and Communications Lead of Startup Climate Action.

These are the 20 teams that have been selected to Test Drive Climate Action and the 13 challenges they are addressing

Challenge #1 – Green & Clean Transport

Retrofit (IN) is making transition to emission-free electric motorcycles more affordable and sustainable for developing countries like India where two-wheelers are a major mode of transport, by retrofitting with an in-house developed ingenious ‘e-wheel’. 

Skrym (SE) combines different sources of underutilized data to solve a fundamental problem in eCommerce – getting rid of the air in packages, cutting both costs and emissions.

Challenge #2: AI for the Planet

LongYields (SE) is unlocking advanced agricultural planning for 540 million small farmers, and providing financial forecast data that make loans possible, that can enable growth, ultimately decreasing eutrophication and greenhouse gas emissions. 

Challenge #3 – Sustainable Materials

GREENer Materials (SE) is producing bio-elastomer from birch bark that will replace fossil fuel-derived rubbers in many applications. 

Planboo (SE) is capturing carbon with bamboo, the fastest growing plant. Engaging and educating businesses to reach Net Zero transparently and affordably, whilst empowering communities in the Global South. 

Challenge #4 – Energy Efficiency

Platypus (SE) With the Platypus AC-to-DC electricity conversion device, we are reinventing the efficiency of in-building distribution, delivering 5-10% reduction in electricity consumption, with no behavioural changes needed by the end user.

Challenge #5 – Resource Efficiency & Circular Economy

Another Closet (SE) is helping clothing companies to reduce emissions and waste by giving them the data and insights needed to move into the clothing rental market and profitably scale their rental service. 

Challenge #6 – Recycling & Reduced Waste

Cling Systems (SE) is a logistics company and a marketplace platform that enables traceable and safe electric vehicle battery recycling. We get the right battery to the right place. One box. One market. Infinite loops. 

Challenge #7 – Reduced Carbon Emissions

Bluemethane (NL) will develop methane capturing technologies allowing hydro-power companies to generate up to 8% more energy from their current infrastructure while protecting the environment.

Cando (SE) is a social shopping app inspiring better choices by making consumers aware of their carbon impact. We are changing the game by helping consumers build sustainable habits.

Challenge #8 – Energy Storage & Integrated Energy Systems

Animaeh (SE) is helping humanity become sustainable by solving the need for renewable energy by local green Hydrogen production.

Challenge #9 – Carbon Capture & Storage 

Direct Air Capture (SE) is building a market platform – directaircapture.com to launch and iterate with customers and our network of partners within direct air capturing.

EKEN Forestry Financing (SE) is a readily available, rapidly scalable, profitable, natural carbon capture solution with the potential to store billions of tons of CO2e in European and North American forests.

Challenge #10 – The Human Ocean

The Grapheneers (SE) is transforming the boating industry through TechAiLos – our 3D-printed, fully customizable boat hull made of smart, sustainable material empowered by an AI platform ensuring sustainability throughout a boat’s lifecycle. 

ReShore (NL) is challenging marine infrastructure to be environmentally sustainable instead of environmentally destructive; thereby contributing to rebuilding ecosystems, protecting coastlines and ensuring food security.

Challenge #11 – Renewable & Clean Energy

MbeguSolar (SE) is a platform connecting people with solar energy using a novel self-financing mechanism in Sub-Saharan Africa. 

SDK-Marine OTWENS (ES) is a wave energy solution to decarbonize electricity generation along coastal areas and insular territories helping them achieve energetic independence with no use of land, scalable, practical and effective. 

Challenge #12 – Green Buildings & Sustainable Cities

Build up Nepal Engineering AB (SE/NP) provides machines and training to driven entrepreneurs and rural communities, empowering them to produce climate-friendly bricks and build safe, affordable houses at scale. 

Challenge #13 – The Future of Food

FROOT (SE) is Karma for household food: a cool, human-centered platform built around tracking, inspiring, and repurposing food and food waste into new resources by tapping into the power of community. 

Penaka Solar’s (SE) technology is combining three wide sustainable business domains: Agriculture, Solar, Water into an efficient, mutually profitable module, all on the same piece of land, in a way never done before. 

NEWS September 7, 2020

List: Meet the 15 new startups accepted to Sting

The accelerator Sting has carefully chosen 15 innovative tech startups to join its programs. Today, the entrepreneurs met for the first time and kicked off an intense fall where they will be challenged and pushed to reach results. The companies offer solutions ranging from rechargeable zinc-ion batteries and sustainable laundry products to cashflow management and subscription to interactive children’s books.

Sting provides entrepreneurs who are solving pressing problems with financing support, coaching and the networks they need to faster and smarter reach their goals. The 15 new companies were selected from a total of 170 applications.

– We are thrilled to see such a great group of startups joining Sting. Several of the companies are tech-heavy and many have a clear focus on sustainability. I am really looking forward to working with these impressive founders who have deep industry knowledge from their respective business fields, says Fredrik Rosengren, business coach at Sting.

One of the new companies is Brilea, a circular fashion innovation company. Their goal is to launch bio-RESTORE, a revolutionary laundry product for home consumers that restores used garments to their original state.

– With Sting’s collective knowledge and expertise, we aim to build a strong foundation for continued growth and bring bio-RESTORE to consumers around the world to help fight unnecessary fashion waste, says Wajahat Hussain, cofounder and CEO at Brilea.

Propel Capital, the investment company connected to Sting, invests SEK 400,000 in all startups accepted to Accelerate. The startups in Incubate can also receive the investment after a period of evaluation. In addition to the investment itself, the entrepreneurs gain direct access to the 40 business angels backing Propel Capital, as well as their networks.

Furthermore, the teams receive tailored coaching in business development, financing and recruitment, and gain access to Sting’s extensive international network of investors and partners. They also get free office space at A house, which helps to build a strong community with each other and the Sting team.

Another new company is Acty Technologies, which helps investors influence companies in a sustainable direction.

– We have the ambition to grow really fast while at Sting, with the goal of doubling both sales and the number of sustainable initiatives every month. We applied to get support, capital and guidance at the beginning of Acty’s journey. We believe that the coaches will be key partners who help us identify new ways to grow and contribute with a wide network of investors and potential customers, says Frida Femling, co-founder of Acty.

The following startups were selected for Sting Incubate:

Brilea is a circular fashion innovation company. Their first market-ready product is bio-RESTORE, a revolutionary laundry product for home consumers that restores used garments to their original state, and aims to reduce unnecessary fashion waste. The company is founded by a team of experts within sustainability, design, material science, material engineering, digitization and product commercialization to market.

EdAI Technologies builds the future of education. Their solution edAider is the next generation AI-based learning platform. It unlocks the value of data and analytics and provides adaptive learning and teaching possibilities. EdAI’s solution is a first of its kind hybrid analytics platform and it is uniquely tailored to support learning and teaching in traditional physical classrooms as well as in distance education.

Enerpoly Sustainable batteries to enable 100% renewable energy. Enerpoly will revolutionize stationary energy storage solutions by innovating in critical battery components. Their ground-breaking rechargeable zinc-ion batteries makes 100% renewables possible on a global scale. It is the cleanest, safest, most sustainable and most affordable energy storage solution on the planet.

Evolar increases solar panels’ power yield by 25 percent. The company will develop and commercialize a manufacturing technology for solar panel manufacturers – the next generation of solar panels with the highest efficiency at a low cost. Their technology consists of a perovskite solar cell coated on the front glass of a conventional solar panel.

iPercept Plug & play automation of machine diagnostics. IPercept Technology empowers manufacturing companies to accelerate the sustainable growth of equipment utilization on an unprecedented scale. Downtime and scrap-rate is significantly reduced through the introduction of plug & play automation of diagnostics and condition monitoring. IPercept’s solution provides powerful insights with utilizing high-end inertial sensor technology, a patent-pending test procedure and advanced industrial analytics algorithms.

Kollin helps university students nail their exams. They offer a learning platform that gathers and organizes university course material to give students a manageable and stimulating digital learning experience.

Paradiset 2.0 builds the food market of the future. At Paradiset.com, you as a member will be able to buy healthy and sustainable food at Sweden’s best prices. They buy directly from the manufacturer without intermediaries so you can shop at great discounts! They only select the best products from manufacturers they know so that you can always be confident with your choices.

Stackend.com Backend, frontend & hosting in a single line of code. Stackend is hosted web functionality that you embed in your project. It is domain agnostic and integrates seamlessly into your existing solution or works as a stand-alone. It is not an iframe, it acts as your code, it feels like magic and we call it Code Streaming™.

The following startups were selected for Sting Accelerate:

Acty helps investors to influence companies to take a sustainable direction. Acty’s engagement management platform helps investors stay focused on the mission to drive sustainable change. The platform provides easier access to data, automated statistics and a network of investors that facilitate collaboration.

Allihoop Flexible urban co-living – where people can belong. Allihoop is a co-living brand that shapes and provides new ways of living in cities for young professionals.

Atlas streamlines property management through an open and scalable platform. Through built-in integrations, data digitalization and automatic data handling, real estate companies can, in a powerful way, oversee and manage their assets. With a REST API, Atlas makes sure that the platform is open and that the customer always can access their own data, perhaps to make own integrations with other systems.

bizzcoo The tech hub for the gig economy. bizzcoo provides a seamless consulting business system. They make consultancy companies faster and more efficient and provide the business tools you need as a freelancer. bizzcoo enables consultancy companies to accelerate their businesses and get in control by providing a system that includes all the functionality they need. All based on the latest technology, user friendly and easy to integrate.

Boksnok is a subscription service for interactive children’s books. It offers over 1000 qualitative and well-known children’s books from established publishers. The goal is to make reading more accessible to children in a new and fun way by taking advantage of the new technical possibilities.

Obvious Company cash management on easy mode. Obvious helps founders manage their cash and better understand their businesses. We answer mission-critical questions like “What is my burn?”, “What do we pay for?”, “Who is accountable?” and “How do I maximize growth?”. By using bank APIs, users can connect their data sources and be fully onboarded within minutes.

yayloh is a next-generation post-purchase and returns management SaaS platform for online retailers. yayloh was founded with the aim of fixing the biggest pain of the online shopping journey, both for customers and retailers: returns. With yayloh, the entire return journey is digital. The result is streamlined processes, empowered customer service agents, exceeded customer expectations and reduced returns.

NEWS September 1, 2020

52 startup ideas selected to the next stage of Startup Climate Action

Startup Climate Action, the new challenge-driven initiative by Sting and Norrsken, is now continuing to its second phase with 52 carefully selected startup ideas from 20 countries that are creating solutions to 13 different climate challenges.

A new desalination method that cleans saltwater using industrial waste heat, a platform helping retailers to become more sustainable, AI solutions for the cleaner planet, and eco-friendly materials and solutions making the transport industry greener are among the selected ideas that will continue to the next phase of Startup Climate Action.

See the list with the 52 selected ideas

The first phase of Startup Climate Action, Ideation, attracted more than 1000 registered users from 72 countries. Together, they formed close to 200 new startup teams from which 52 got selected to join the next phase. Of them, 80 % are mixed gender teams.

– We are very proud of the amazing results. It has been incredible to see that so many talented people want to take climate action and join a climate startup. We are really impressed by the high quality of the ideas and teams and it has been a difficult task selecting the 52 teams for the next phase, says Karin Ruiz, Deputy CEO at Sting and initiator of Startup Climate Action.

Now the 52 selected teams will continue to the next phase, Deep Dive, where they will be provided extended business coaching and mentoring, and an invitation to an exclusive one-day digital bootcamp consisting of workshops and inspirational sessions by high-profile climate experts and Swedish Climate Action startups.

After the Deep Dive phase, 13 qualified teams will be selected to Test Drive Climate Action, a pre-accelerator program by Sting and Norrsken focusing on validation of the business ideas.

The final step, the Climate Action Accelerator program run by Sting, will be launched in 2021.

The initiative, which focuses on UN Sustainability Goal #13 – Climate Action, was launched in June 2020 when 13 heavy-weight Swedish Climate Champions presented their 13 Climate Challenges.

The goal is to create more fast-growing Swedish companies that contribute innovative, scalable solutions to combat climate change. The initiative will also help put Sweden on the world map and make Sweden the “mecca” of the world for climate action startups.

– Our aim is to mobilize people with bright ideas and brilliant minds to team up to find solutions, and to create a movement of climate solvers that create and build the climate action startups of tomorrow, says Henna Keränen, Sting’s Head of Partnerships and Startup Climate Action Project Lead.

Startup Climate Action initiative receives funding from Vinnova and among the supporting partners are Stockholm Resilience Center, KTH Innovation, WWF, Almi Invest, the Swedish Energy Agency, IVL, RISE, Ignite Sweden, Dalarna Science Park, Lead, We Don’t Have Time and the 13 Climate Champions.

See the list with the 52 selected ideas

NEWS September 1, 2020

List: The 52 teams selected to Startup Climate Action’s next phase

The Startup Climate Action initiative by Sting and Norrsken, is now continuing to its second phase, “Deep Dive”, with these 52 carefully selected teams.

The 13 Climate Challenges and the 52 selected teams addressing them.

These are the 52 teams that were selected to the Deep Dive:

  • Animaeh
  • Another Closet
  • Blue Tuesday
  • Bluemethane
  • Brine Energy
  • Build up Nepal Engineering AB
  • CIRCULANT
  • Cling Systems
  • CommuteSaver
  • Comparency – Know your choices
  • Direct Air Capture
  • Dissolve AB
  • EKEN Forestry Financing
  • Find sustainable fashion
  • FROOT
  • Grapheneers
  • GREENer Materials
  • GreenIron
  • Hamsa Recycling
  • Helios Innovations
  • Hooked Seafood
  • Ice power
  • Irrigation robot
  • Leconery
  • Leral Solar Bank
  • LongYields
  • SAVE | THE | DATE
  • MbeguSolar
  • mooov technology
  • Nordluft – Skarl
  • OTECH
  • Parking Buddy
  • Penaka Solar AB
  • Planboo
  • planetglobal.
  • Platypus
  • Positive Energy Ltd
  • PRAGYA
  • Pregtracker
  • Pumped Hydro Storage Sweden AB
  • Redare AB
  • REE from Sweden tailings
  • Refillistic
  • ReShore
  • Retrofit
  • SC- Plastic Roads
  • SDK-Marine OTWENS
  • Skrym
  • Sticky Solar Power
  • Takåsarna
  • Village Data Analytics (VIDA)
  • WoodChain
The 13 Climate Challenges and the 52 selected teams addressing them.

NEWS April 7, 2020

Datia wants to help private individuals invest sustainably

Today, Datia is launched, the app that wants to help private individuals invest sustainably. “Sustainability and returns need not be opposites,” says Juan Manuel Serruya, co-founder and CEO of Datia.

Manne Larsson och Juan Manuel Serruya, founders of Datia

A study from the World Nature Fund shows that Swedish equity funds have invested over SEK 37 billion in the 200 companies with the highest carbon dioxide emissions in the world, and 70 percent of the equity funds invest in oil and coal companies.

– Most small-scale savers have no idea what kind of company their money is being invested in. Many make an effort to change to a more sustainable lifestyle, but savings are often forgotten. Placing your money in sustainable alternatives is one of the most powerful choices you can make to reduce your climate footprint, says Manne Larsson, co-founder and COO of Datia.

With the help of Datia, individuals can easily see how their shares and funds affect the environment through parameters such as carbon dioxide emissions, water use and waste. Users can also see how their savings affect society through information about, for example, gender equality, working conditions and compliance with human rights.

– 80 percent of all Swedes own funds in addition to their premium pension. Today, it is incredibly complex and difficult to understand how we choose to place our savings money on society and the planet. We want to make it easy for everyone to make financially wise decisions without having to tamper with their values, says Manne Larsson.

Behind the service are Manne Larsson and Juan Manuel Serruya. Manne previously worked as an investor at EQT Ventures and Juan most recently came from Spotify, where he was an engineering manager at the New York office.

– A common misunderstanding is that returns and sustainability are opposites, so it doesn’t have to be. There are several studies that show that companies that outperform in sustainability also perform better financially, says Juan Manuel Serruya, co-founder and CEO of Datia.

About Datia
Datia helps you invest sustainably and in line with your values. With the Datia app you can easily see how equities and funds affect the environment and society through parameters such as carbon dioxide emissions, water use and gender equality. Datia helps you find investment opportunities that have a positive impact on the world.

More about Datia: www.datia.app

NEWS April 2, 2020

These Sting companies can help during social distancing

Startups across Sweden are offering their help in the battle against Covid-19 and ways to help us cope with the new era of social distancing. Here is a list of amazing Sting companies that are offering their services and digital solutions to help you to stay at home and fight the pandemic.

This list will be updated continuously, so stay tuned! 😊

Save Businesses

  • Brainville – Companies that have been forced to lay off, alert or consider dismissing staff are now offered a proven platform to temporarily lend their staff. At the same time, companies that need staff, but do not dare to employ, can advertise for free. Self-employed people are also welcome to search for assignments.

HealthTech

  • Care to translate, the medical translation tool available 24/7 for all types of healthcare professionals, is offering the Care to Translate Clinic app free to use until April 30. You can get a free account as a private individual or an account for the entire clinic.
  • ADHDdoktorn is helping people who temporarily have trouble getting to their regular clinic. If you are already undergoing treatment,they can help with renewal prescription. Book a time here (no introductory call needed).
  • BlueCall, the platform offering companies and their employees anonymous therapy counselling, is now welcoming employees and managers to use the service free of charge for two months.
  • MediCheck, the company offering specialist doctors online, now invites other healthcare providers to use their digital meeting platform without starting costs or licensing costs.
  • Snaptive, the digital counseling service where users can anonymously receive professional counseling and support, invites everyone to use their app for free until April 30. Use the code StayStrong20 when signing up!

EdTech

  • Skillbreak is changing its creative workshops into live sessions and offers inspiring ways to tackle boredom and loneliness. Also, all 70+ people in Sweden are offered to participate free of charge!
  • edChild, together with Hoppetossa preschools, offers activities with the hope of inspiring new adventures for you and your children. Activities for both younger children (1-3 years) and older children (3-6 years) are available, and you can find the activity description in both English and Swedish on our Facebook page.
  • GroPlay offers a free subscription to their school service Grow Planet until July 31 (only in Swedish so far). Check it our here.
  • Learnster, the SaaS-based platform that helps organizations with onboarding and skills development, lists their tips on how to easily turn a physical event into a virtual event and include it in a training program. Find out more here.
  • Prion, the pre-school app, has listed different activities for parents to implement at home that are based on the national curriculum in Sweden.
  • Ugglo, the digital library for pre-schools and schools launches their popular audiobook service for consumers in order to help kids to read and learn while staying at home. As a Sting friend, you can now register by using the discount code: sting20

Food

  • Eaesy is a mobile app that lets people pre-order food from different restaurants for pickup. It helps both people to minimize social contacts and restaurants by offering a way to continue their sales.
  • Karma, the food waste app, is now offering saved food deliveries from restaurants and grocery stores directly to your door. The company also offers a month’s subscription to Karma boxes.

Sports

  • Challengize, the team health challenge where all forms of sports activities count, has launched new digital training solutions for companies and their employees across the world. Stay healthy and active, while staying at home with Challengize.
  • Horsetech company Ridely has launched a new video feature that allows riders to share trainings directly with their riding coaches. The new video feature helps riders to continue riding practices despite social distancing.

Working from home

  • Beleco, the sustainable streaming company for furniture, is helping people working from home to rent an ergonomic and well-functioning home office without a fixed contract time and with free delivery to their door.
  • PushAppy, the digital platform that helps companies create positive behavioral changes that lead to increased motivation and higher results for employees, is offering several real-time challenges for people to stay motivated and engaged with their colleagues.
  • Hubbster Group, the SaaS-based platform that offers digital tools for activating strategies, has launched a 3-minute test, which is followed by a free analysis with recommendations on how you can succeed with your employee-driven work remotely. Find the test here (in Swedish only) and get your company’s recommendations.

Other services

  • Laundrop offers a door-to-door laundry service and under April, elderly people, people who are sick and healthcare workers are offered to use their medium package laundry for free.
  • Ciao Ciao Carsharing is recommending people to stay home and avoid any transports. Although, for those who do need wheels, Ciao Ciao’s app-based carsharing service helps you get a car without any human interaction.
  • Newsvoice, the free crowd-sourced news app with the aim to fix the news and filter bubbles, has released a special Corona news site. With Newsvoice, you can see the latest news of the pandemic worldwide here.
  • Vagon – Most CAD and 3D designers have no longer access to their workstations due to the lockdown. And there are multiple communities that have started campaigns for collaboration to create designs that can help during Covid-19. We offer those 3D designers free usage of vagon to join that collective effort.
NEWS March 25, 2020

Here’s how to tackle the effects of Corona

Corona’s impact on the economy has not escaped anyone. But how can you as a startup contractor make you come out of the crisis stronger? Here Sting provides several hands-on advice and tips.

Sting has coached 300+ startups and has gone through several crises since we started in 2002. Here are advice and tips from Stings coaches Ivar Strömberg, Hannah Meiton and Magnus Rehn who share the most important steps you need to take now to save your business.

This is a summary of a Sting webinar, Corona Business Damage Control, held on March 18 mars. A presentation with extended information was given at a webinar on March 25, that presentation can be found here and a video recording here.

Review your business model

Some companies are losers and others are winners.

If you have a mixed digital and analog business model (for example, an edtech company that offers both digital and off-line courses), you can move your business towards digital products.

If your delivery changes from analog to digital, analyze your current customer base. Which customers should you spend more or less time on? For example, if you have a customer who is fully ready to become digital, spend more time on her or him and less time with those who are not there yet.

Look for additional revenue streams with a focus on short-term opportunities. Now is not the time to venture into strategic long-term projects.

Customer care is the key

In connection to the discussion on the transition to digital business above; this is actually a good time and an opportunity to make long-term efficiency gains through digital processes. The companies that come out of this steel bath come out stronger.

Remember, it is possible that several of your potential customers are considering a deal with you. To help them make a decision – give them an opportunity to “opt out” to feel comfortable with signing contracts.

Some natural customer contact points, such as trade shows and events, will be canceled. So what options do you now have to stay relevant?

Make sure you still have high customer satisfaction in these new times.

Now is probably not the time to expand, but a time to make the company more efficient and ensure that existing customers are satisfied.

Cost savings – look around every corner

If you are forced to cut back on the organization, do it all at the beginning. Why? Well, because when it comes to reducing the number of employees, several small cuts create uncertainty and lengthens the time before the organization can return to functioning reasonably normally again. It is better to release ten employees at the same time rather than 2, 2, 2, 2 and 2. Pull off the bandaid in one quick move.

Push costs forward as much as possible. Think about whether the cost is really necessary in the short term and refrain from any costs that can be eliminated. Also minimize the costs you have to incur. For example, negotiate rent payments for an extended lease term.

For many companies, labor is one of the biggest costs. See if you can delay or reduce your salary payments. If possible, replace parts of the salary with shares in the company.

If you have planned a new recruitment – postpone this if possible. The Swedish government has passed a law on short-term permits. More information can be found on the Government’s website and Tillväxtverket.

Liquidity – money coming in

New loans are difficult to obtain. Yes, the central bank has given banks loans with zero interest rates, but everything points to the fact that this money will not be used to take greater risks than usual. So a better option for you is to seek an extension of your current credit line. Get in touch with your contact person at Almi to apply for additional loans.

If you are currently raising capital and are in a financing round, the situation depends on the industry you are in and how affected it is. Therefore, if there is a term sheet on the table, now is not the right time to negotiate the terms offered – accept these, as you need the money now. Tomorrow, the conditions and the world may look completely different. Again.

Other ways to extend your liquidity are:

– prepayments from customers against cash rebates
– monitor payments and send reminders immediately (even before due date)
– use factoring for immediate payments against a sometimes 15% commission
– tighten the payment terms, ie shorter time, for the customers
– try to sell stock, even at a discount
– sell and lease your machines if you have

Liquidity – money that goes out

Now more than ever, cash is king.

If you can divide payments into monthly payments, do so. Your supplier is keen to have you as its customer, so it is a win-win situation.

Negotiate longer payment terms with your suppliers, for example 60-90 days.

If you have an Almi loan, contact them to stop the loan repayment plan (amortization) and/or try to negotiate the interest payments.

Try to delay or reduce salary payments.

Consider pausing the entire business for a while.

Do you have other questions you want to ask us?

Keep your eyes open for our Open Coaching. Here, as a startup entrepreneur, you can schedule an individual 15-20 minute meeting with us to discuss your plans and challenges.

NEWS January 15, 2020

Reve is acquired by Tipser, a specialist in distributed e-commerce, just like Reve


Från vänster: Axel Wolrath, medgrundare och säljchef på Tipser, Marcus Jacobsson, medgrundare och vd på Tipser och Josep Nolla, medgrundare, vd och storägare på Reve. 


Tipser is a Swedish growth business that enables new revenue streams for publishers through e-commerce on their websites. The acquisition of Reve and the Reach platform complements Tipser’s product portfolio and strengthens the relationship to global brands who want to own their online sales channels.

Tipser is active in the Nordic countries, Germany as well as France with customers including Bonnier, Dagens Nyheter, Cosmopolitan, Bauer, Hubert Burda Media, Pricerunner, among others.

Today they announce the acquisition of Reve, which makes it easy to perform e-commerce transactions in channels such as Instagram, Google, price comparison sites, online marketplaces, voice assistants, digital ads, and others. Reve’s customer base includes some of the world’s largest retail groups, Pricerunner, Hemset, Ridebrain, Speqta, and Widespace.

The acquisition of Reve and the Reach platform greatly complements Tipser’s product portfolio by increasing the number of purchasable products to over 100 million and expands Tipser’s geographical spread to include the USA, the UK and Spain.

Reve’s customers use the Reach platform to enable e-commerce transactions in channels outside their own webshops. These channels include for instance the Instagram Marketplace in the USA, other social media channels and voice assistants like Google Assistant.

– Reve has had a fantastic growth journey for many years. We started with consumer focus with our own marketplace, and then changed the focus to B2B model by offering our unique technology to other online retailers. Combining our experience and technology with Tipser’s network and solid platform means that together we can grow much faster in the future. Brands can finally sell their products in multiple channels without complicated integrations. This means the purchase can finally take place wherever the consumer’s interest arises. We are really excited to have access to this opportunity with the Tipser’s team, says Josep Nolla, co-founder of Reve.

Reve has had backing from investors such as Optimizer Invest, Almi Invest, Wellstreet, Paul Fischbein (former CEO Qliro Group) and author Jens Lapidus among others. The investor group now sells its entire holding.

– With the acquisition of Reve, we gain access to a technical platform that fits very well into Tipser’s broad offering of embedded e-commerce for publishers and traffic platforms. Reve has not only built integrations for both Instagram and Google, but also has major global customers that complement Tipser’s network of publishers and platforms well. We really look forward to continuing our work with Reve’s founders and talented developers with unique expertise in distributed commerce. It will be an exciting and fun journey together, says Marcus Jacobsson, CEO and co-founder of Tipser.

Reve’s two founders Josep Nolla and Andreas Wålm continue to run the business actively.

> More about the acquisition on Tipser’s website

NEWS November 18, 2019

Elk releases open-source version of award-winning Audio Operating System and Development Kit for Raspberry Pi

Elk Audio OS is the award-winning Audio Operating System from Elk (formerly known as MIND Music Labs). It allows you to run existing VST and other plugin formats on hardware instruments and audio devices in real-time with ultra-low latency. And this using only general-purpose ARM and x86 CPUs, opening up for a new generation of digital instruments and remote 5G network experiences.

In the upcoming weeks a beta version of the Elk Audio Operating System will be made available under a Dual licensing model (open-source & commercial), but already today, the Elk Audio OS SDK & documentation is available and is free for anyone to start using. Available on elk.audio is also an Elk Audio OS Development Kit for Raspberry Pi that includes a custom Elk Pi Audio Hat.

The Elk Pi Hat alone is one of the most advanced pro-Audio Hats in the markets with down to 1 ms latency, multichannel and support for Raspberry 4 coming up in the very near future.

– The idea behind the Elk Audio OS is to make a whole new generation of connected musical instruments possible. Instruments that can connect people around the world and spur new kinds of musical creativity. We believe there are so many potential instrument makers out there who could create fantastic things if they just had the right tools, and it is for them we have created Elk. So today I’m very happy to announce that we have reached a major milestone in our company when we can make Elk available to everyone through the open-source release, says Michele Beninicaso CEO at Elk.

Elk Audio OS is officially endorsed by Steinberg, owners of the VST format, is supported in the VST3 SDK and is fully compatible with plugins written in JUCE, making Elk the perfect solution for companies and makers alike interested in developing new digital hardware instruments. With VST being the defacto standard for software instruments and effects there is already a vast library of existing world-class plugins out there waiting for a new life as hardware. An example of this is the
Retrologue desktop prototype synth built on the VST synth with the same name debuted earlier this year at SuperBooth in Berlin.

– When working with Elk Audio OS on the Retrologue we immediately recognized something that could be a game-changer. Running the same VST plugin on hardware as you do on desktop opens up for new possibilities and new ways of working. Getting Elk Audio OS available under open source is really exciting and I believe that this could make Elk a standard for digital hardware instruments, says Florian Haack at Steinberg.

ADC (Audio Developer Conference)
If you are one of the lucky ones to have grabbed a spot at the Elk workshop at this year’s ADC this news should be even more exciting. Not only will you get a hands-on workshop from the core team of developers behind the Elk Audio OS, but you are also the first ones out to get access to the full Elk Audio OS Development Kit, including the Elk Pi Audio Hat. For those of you who have not secured a spot, make sure not to miss the planned talk on Elk Audio OS!

> More on Elk

 

NEWS November 13, 2019

Here are Sting’s four new companies

Sting has accepted four new, exciting startups to the Incubate program. The companies have business ideas spanning a wide range of innovations, from a premium platform for quality articles and components for lasers with new wavelengths, to leadership training and bag collection in tight environments.

The companies that are admitted to Sting represent less than 10 percent of all applicants. The selected companies have the opportunity to receive an investment of SEK 400,000 from Propel Capital, Sting’s investment company and Sweden’s most active private seed investors. In addition to the investment itself, the companies also have direct access to the 40 business angels behind Propel Capital, and also their networks, to further receive support to accelerate development.

– The best thing about Sting is all the professional and experienced sounding boards you get access to, and in addition, I think it is the top of the investor network that Sting has. At first I thought I didn’t need coaching, but a friend who was a member of Sting really recommended Ivar as a coach and said I should apply, and now I look forward to getting help developing my business a little faster, says Anna Holmquist, founder and CEO of Gazzine, a new platform for articles that gives journalists control over their content.

The support from Sting also includes individual coaching in business development, financing and recruitment, and access to a wide international network of industrial contacts and investors. The companies also get free office space for five months at A house, which provides for a strong community with each other and the Sting team.

– We see Sting as a powerful “mission friend” who smarter and faster can support V3VO’s ambition to influence 1 billion people to develop self-leadership and vitality in 2025, says Johan Landgren, co-founder of V3VO, who digitally scales and makes executive leadership training available to everyone.

– We are incredibly proud and excited about the opportunity to develop our company together with Sting. The Incubate program gives us the best conditions to manage the company’s potential. We look forward to a successful 2020, where we will initially conquer the Swedish market and then quickly expand to the Nordic and other Europe, says Mikael Gustafsson, founder and CEO of Freightbag, which enables the use of contruction bags indoors at construction sites.

Since 2002, Sting has coached over 270 startups, including Yubico, Barnebys, Bioservo, Karma, Sellpy, Midsummer and Volumental. In 2018, Sting’s alumni had a combined revenue of SEK 2.6 billion and created over 800 new jobs. Together, the Sting companies have over 2,600 employees.

These four new companies now join Sting Incubate:

Freightbag works with efficient waste management within the construction bag segment FIBC. They specialize in the handling of construction waste bags indoors and in environments where traditional handling is not possible. With their own patented tools and new technology, their goal is to provide the existing market with new efficient and sustainable working methods. www.freightbag.com

Gazzine is a platform that allows journalistic material to find its readers in a whole new way. Gazzine’s vision is to become the superior platform for premium articles so that professional journalists can take control of the distribution and earnings of their texts, while readers can find all the content they need in one place. The goal is to disrupt the global market for articles. www.gazzine.com

Tailored Photons is a spin-off from the Royal Institute of Technology and supplies highly efficient frequency conversion units (FCUs) based on engineered nonlinear optical crystals, tailored for new and traditional laser markets. They offer unique products, that have no counterparts in the market, with customers both in industry and academia. www.tailoredphotons.com

V3VO, Vertical Evolution, is a new sector-disrupting venture and digital scaleup for human and organisational growth, within life’s different contexts, directly growing individuals, teams and families. This world initiative makes executive leadership training available for everyone, balancing the success of the individual with the holistic greater good. In early 2020, they will release the first personalized version, which is expected to be part of each and everyone’s everyday life 2025. www.v3vo.com