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NEWS January 13, 2023

Sting will accelerate 100 new Swedish climate startups

Sting has been trusted with significant financing from ERDF (the European Regional Development Fund) to support Swedish startups that bring innovative solutions to fight climate change.

Over the next four years, Sting has committed to accelerating 100 new Swedish climate startups. This is Sting’s most ambitious Climate Action effort to date to help turn Sweden’s most impactful climate innovations into future growth companies.

Climate Action 3
Climate Action 3

Stockholm is one of Europe’s most vibrant startup cities, and Sweden a front-runner in climate tech with thousands of climate startups and unicorns such as Northvolt and Polarium. Sting has been a key driving force in building Stockholm’s world-class startup eco-system, and climate tech and deeptech have been strategic focus areas for Sting for many years.

Thanks to the funding from ERDF, Sting will be able to take its Climate Action ambitions to the next level. In Sting’s new Climate Action initiative, 100 Swedish climate startups will over the coming four years, get the best imaginable support to help turn their innovations into scalable businesses and accelerate their climate impact.

Already being the accelerator in Sweden working with the largest number of climate startups, Sting will now double its capacity to 25 companies per year. Sting has recently brought on board two new business coaches specialized in energy, carbon capture, and mobility and has a highly experienced team of five dedicated climate tech business coaches ready to support new startup teams.

“Sting is one of the accelerators in the world with the longest experience from incubating and accelerating climate tech and deeptech startups. We started in 2002, and over the years we have supported hundreds of climate startups such as Midsummer, Sellpy, Karma, Ignitia, Surfcleaner, Airmee and Worldfavor,” said Karin Ruiz, Deputy CEO and Climate Action Lead at Sting.

“At Sting we strongly believe in the power of innovation, technology, and entrepreneurship to bring solutions to some of the world’s biggest challenges. We are thankful for the ERUF funding and support from our strategic partners that will enable us to accelerate many more Swedish climate startups,” concluded Karin.

Sting’s Climate Action initiative is well aligned with the Climate Route Map 2050 of the Stockholm region, reinforcing Stockholm’s position as the Impact Capital of the World and supporting the region’s green transition. As part of the Climate Action initiative, Sting will take the lead in mobilizing the resources of Stockholm’s startup ecosystem to offer the most extensive and qualified support for climate entrepreneurs and innovators to commercialize their innovations. Strategic partners supporting Sting include KTH Royal Institute of Technology, Stockholm University, RISE, IVL Swedish Environmental Research Institute, the City of Stockholm, and Region Stockholm.

Climate areas that Sting is particularly interested in are renewable energy, energy efficiency, energy systems and storage, carbon capture and its usage and storage, mobility and green transports, sustainable cities and buildings, circular economy and resource efficiency, sustainable food and agriculture, new materials and reduced waste.

For questions or to engage with Sting’s Climate Action initiative contact:

Pär Hedberg, CEO of Sting, par.hedberg@sting.co, +46-70-8550318

Karin Ruiz, Deputy CEO of Sting and Climate Action Lead, karin.ruiz@sting.co, +46-70-6457804

Linda Krondahl, Project Manager for Sting’s Climate Action project, linda.krondahl@sting.co, +46-70-7949280

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.