What stage should our startup be in?
To be considered for Sting, your startup should match the following criteria:
- Some early “proofs of concepts”
- Solution to a clear, big and important problem
- Business idea based on an innovative technology
- Scalable product that can become an international success story
- Team of at least two founders with the drive and ambition to build a successful growth company
For the Incubate program, we want to see that you have launched a prototype/alpha, while for the Accelerate program, you should have product or service in initial traction and are looking to scale.
Mixed teams with regards to gender and ethnicity are preferred. We’re also actively looking for companies working towards the UN’s sustainability goals (SDG).
I am a single founder. Can I still join?
We only accept startups with a team of at least two founders.
If we really like the business idea, we sometimes help single founders recruit another founder or team member before starting the program. Since this really is a “team sport”, our experience shows that being at least two people on the team increases your chance of success significantly.
We are not based in Stockholm. Can we still join?
To fully benefit from Sting, you want to take part in physical coaching sessions, workshops, peer-to-peer meetups, informal daily small talks, social gatherings and other events – which means you need to be present here in Stockholm. So while in Sting’s program we would like you to have at least part of your team and some of your business activities based in Stockholm.
You also need to operate in the legal form of a Swedish limited liability company (Aktiebolag, AB, in Swedish).
Does our startup have to be registered in Sweden?
Yes, to be able to receive an investment from Propel Capital, which is included in the program, you need to have a Swedish registered company.
Do we need to have our tech inhouse?
To generalize, there are two different kinds of companies:
- Technology is the core of the company; you are a true tech company.
- Technology is the means to solving a problem.
If your business falls under number 2, then your startup could probably outsource software development. But it is riskier than having the tech inhouse. We often see great, small internal tech teams extending their capacity by contracting third-party companies.
If you fall under number 1, however, and you are building a tech company, then you do need to have your tech inhouse.
Do you accept startups that would compete with my company?
Startups that could be competitors will never be accepted and part of Sting at the same time. However, once a startup has left us and become alumni, we could after six months accept and work with another company that has a similar business idea.
We have already raised a substantial amount of funding, can we still join?
Yes, it is definitely possible to be part of our program even if you have already raised money. Companies often have angel investors onboard before joining Sting.
We’ve already participated in other programs – why should we join yours?
Sting offers comprehensive and rigorous startup support that we believe is matched by no other accelerator in Europe. More than 9 out of 10 startups recommend Sting to other startups. Named the best accelerator in the Nordics, the commitment in time and passion and the intensive support you receive from Sting’s coaches is unique. But don’t take our word for it, please feel free to contact our companies to hear what they think. Click here.
We support startups within a wide range of business activities, including business development, recruiting, financing and investor relations, that will help you reach your goals faster. To read more about our offers, head over to our offer overview.