Sting Bioeconomy to accelerate future growth companies within renewable product and services

Today, Sting Bioeconomy, a new cutting-edge incubator, is being launched to help develop innovations in forest-based bioeconomy and increase the number of fast growing companies in this area. Victor Isaksen, experienced entrepreneur and forest owner, becomes president of the newly-started Karlstad-based incubator.

The venture is a collaboration between the world-leading cluster of forest-based bioeconomic companies, Paper Province, Region Värmland, Karlstad Municipality and Sting, the Nordic region’s leading incubator for startups with high growth potential.

The new incubator will be based in Karlstad, with the aim of leveraging Värmland’s strong position within forest-based bioeconomics. Värmland is home to world-leading industry within this area with large companies like Rottneros and Nordic Paper, as well as the strong bioeconomic cluster Paper Province. Stockholm-based incubator Sting will also participate as a partner in the project, contributing its experience in developing high tech startups and its international network of investors and business contacts.

Victor Isaksen will take on the challenge to build Sting Bioeconomy. Victor has a background as an entrepreneur and as a forest owner, providing knowledge and experience that will be useful in his work. “I look forward to building Sting Bioeconomy into a world-leading ecosystem for young promising companies focusing on sustainable services and products based on renewable resources,” says Victor. “I also look forward to the cooperation with Sting, that is internationally recognized as one of the world’s best incubators with its proven working methods,” he continues.

Sting Bioeconomy welcomes startups from all over the country to its program and, with its base in Karlstad, will provide part of its offer virtually and with close connections to Stockholm. Promising startups with business ideas in areas such as bioenergy, new packaging solutions and optimization of forest and paper industry processes are expected to join the incubator. Business develop support, financing and internationalization will be important part of the new incubator’s offer to accepted startups.

Since the start of 2002, Sting has supported over 240 companies. The companies currently have aggregated revenues of over SEK 2.1 billion. Pär Hedberg, CEO and founder of Sting, commented on the collaboration:
“For us at Sting, this is the first time we put our name on a venture outside of Stockholm, and we are look forward to contributing our experience and our networks to Sting Bioeconomy with the aim of building an edge incubator that truly delivers value for promising startups within this important area. We are also very excited to cooperate with world-leading large companies and regional players in Värmland to make this initiative a success,” says Pär Hedberg.

Contact
Victor Isaksen, CEO Sting Bioeconomy, 070-636 93 25
Pär Hedberg, CEO Sting, 070-855 03 18