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NEWS August 28, 2017

Here are the new Sting Accelerate companies

The eight startups that have been selected for the fall batch of Sting’s Accelerator program offer solutions ranging from car wash to Facebook for riders. All companies receive SEK 300,000 from Sweden’s most active private seed investor, Propel Capital, to accelerate growth.

The selected group of Sweden’s most promising startups will receive intensive coaching during 20 weeks by Sting’s coaches to increase the pace of development, rapidly enter the market, and increase the chance of success.

– The new Accelerate companies want to strengthen their sales efforts and represent services ranging from car wash to Facebook for riders and SaaS services for training companies. The group is made up of strong entrepreneurs who will be able to lift and inspire each other. They will certainly impress the startup world, says Ivar Strömberg, coach at Sting.

New this year is that, in addition to support from Sting’s experienced coaches, the companies also have access to 30 hours that can be used for buying coaching offered by external experts in areas such as SEO / SEM, UX and Conversion Optimization .

One of the new companies is Woshapp, which simplifies car wash by going to the customer and washing the car on site, utilising an environmentally friendly washing method.

– We have exciting contracts with some big companies that have many cars, and we already have over 20 percent recurring customers. We applied to Sting because they have extensive knowledge and have helped a large number of companies during many years. We are very excited to have been selected to the program. We are now looking forward to tough and sincere coaching that can seed up our growth rate, says Jens Karlsson, co-founder of Woshapp.

Another company has developed Ztable, an app for riders, offering a training calendar, inspirational riding exercises and a social network.

– We had a very successful launch in early summer and now have 17,000 downloads. We are looking forward to being challenged by Sting so that we can increase the pace and get even better. Getting access to Sting’s network, know-how and coaching will be a great opportunity for us, says Ingrid Sundqvist, founder and CEO of Ztabler.

In addition to coaching in business development and financing, the eight Sting Accelerate companies, also receive support in recruitment and communication, and get access to Sting’s network of business contacts and investors. During the program, Sting companies are offered free office space at the internet hub SUP46 in central Stockholm. Since the start of 2002, Sting has coached over 200 startups. Among the Accelerate companies are Sellpy, Dreams, Karma, Mondido and Sudio.

The following eight startup companies are included in the fall of Sting Accelerate:

Gigital is the first completely digital solution for booking live performers for professional and private events. As a customer you can search, filter, sort and compare the wide range of performers. Completely without middle men. All the communication and payment is done fast and easy directly over the platform. www.gigital.se

GoFrendly We love friendship stories! GoFrendy offers women of all ages and regardless of their life situation an opportunity to create new friendships in a safe environment and through a smart and easy matching process. GoFrendly is available for download on the App Store and released for Android in September 2017. www.gofrendly.se

Kinexit is an online subscription service bringing individualized movement to those serious about health, fitness, and sports. Active people, athletes and those who coach, train and treat them. Activity participation and sports performance is fully individualized and optimized to drive fast results. Movement restrictions are found and fixed to unlock greater possibilities for anyone. All this in an affordable subscription on your mobile device. www.kinexit.com

Learnster is a learning ecosystem and the first cloudbased end-to-end service for learning providers and consultants. Learnster cut time spent on managing courses by 50 percent, saving money on every level, modernizing and distributing course content and making it available in all devices, and most importantly – increases the learning experience and outcome. With Learnster our clients can futureproof their learning offer and business. www.learnster.com

Pushappy is a clever tool that make selling both more effective and fun.
With our app system your sales will increase fast, using our gamification concept.
All sales within the goals you set will be followed up in real-time, helping you to act proactive upon results and get your sales force more motivated than ever. www.pushappy.com

Wopify wants to create the world’s smartest job matching engine and offer people who already have an employment the opportunity to discover new exciting job challenges worldwide, while remaining 100% anonymous. www.wopify.com

Woshapp is the car wash that comes to you. For every car we wash with our proven formula, we save around 200 liters of water. Our formula is also gentle on the paint and reduces the risk of scratches and swirl marks. With Woshapp you just press a button while we take care of the rest. Easy, convenient and safe. www.woshapp.se

Ztable is an app designed especially for riders. It contains a training calendar, inspirational videos and a social network. We give equestrians on all levels the opportunity to share their passion, develop their riding and achieve their goals. Free on AppStore and Google play. www.ztable.se

 

Entreprenörskap October 23, 2014

5 ways to boost your STING Accelerate application

Thinking about applying to the next batch of STING’s accelerator program? Here are 5 useful tips to improve your chances of getting chosen for the program:

STING FastFwd

Tove and Janna, founders of Competencer, pitching at Demo Day.

1. Show us that you have a strong team
STING invests in people, not companies. One thing that truly impresses us is an experienced team with complementing skills. Show us that your team represents business, marketing and sales competencies, as well as a solid set of techies.

2. Think visual
Another thing that excites us – and makes you stand out – is video. Tell us about your team and business concept in a three-minute video pitch. We promise we won’t pay attention to production quality; it is the content we’re interested in.

3. How will you make money?
Explain to us how your business will scale. How will you make money? We love to see traction. Who are your customers and what do they say about you? Show that you have a deep understanding of your market, as well as your strategy for how to meet the need of that market.

4. Show a global focus
Our mission is to help entrepreneurs to build international companies. For that reason, it’s essential that you have your sights set on going global from day one.

5. Put effort into your application and do your homework
Take the time to answer each question carefully, spell check, include images and produce a short video. In other words: fill out the application form properly. Equally important is doing your research. Do you know what STING – and STING’s accelerator program – is all about? We want you to feel that this is the right fit for you and your startup.

And last, but not least; apply before midnight on May 10.

Visit sting.co/startup-program/sting-accelerate for more information about Sting’s accelerator program and the 300,000 SEK investment.

Best of luck!

Finansiering March 14, 2014

In the mind of a business angel

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How do you attract a private investor? What should you research and what questions should you consider before choosing who to bring into your company? On Monday this week, we had lunch with the serial entrepreneurs and business angels Jane Walerud and Martin Wattin who talked about private investing with our entrepreneurs.

So, simply put: A business angel is someone who privately invests in early-stage companies, with money straight from their own pocket. Jane and Martin are members of the STING Business Angels (SBA) network, and the two have invested in close to 20 startups combined.

Jane is currently CEO at her latest startup, Teclo Networks. She is an experienced tech entrepreneur and her journey goes back to 1998. Since then, she has built a portfolio of investments and companies that is rather impressive. Some of the more known cases are Bluetail, Klarna and LensWay.

Martin hails from a background as an IT-entrepreneur and investor, and has since 2006 invested in a number of IT/media companies in Sweden, the US and India. Some of the Swedish investments include Mostphotos, Rabble and Scrive, where Martin also serves as a board member.

Here is a summary from the lunch meetup.

Enjoy building companies
To invest in early-stage startups equals a large risk, and the investor can potentially end up empty-handed. According to both Martin and Jane, it’s worth taking that risk. They believe it is important, and a real pleasure, to share their expertise as serial entrepreneurs, and help companies to scale early. Angel investors usually have a deep passion for building companies, and have a lot to offer younger entrepreneurs – especially in the initial stages of a business.

“I know I’m most helpful in the early stages of a startup, before the team grows bigger than 50-60 people,” Jane said.

Martin is an active investor, and on a weekly basis he meets up with the companies as well as has regular follow-ups. “I want to steer them away from doing the same mistakes I once did, and be close to my companies,” Martin said.

Martin and Jane pinpointed business angels’ critical role in the eco system of startups, which is to support the companies with both funding and coaching when they might require expertise the most, and before they attract capital from larger VC firms.

Study before the official test
So how do you go about attracting a private investor? Well, there’s no straight answer to that.

“It’s vital to know who you’re approaching. What type of business has this person invested in earlier? Why is your company relevant to them?” Jane advised. She really emphasized the importance to identify the weaknesses within the team, and look for an investor who represents those skills.

“Make sure that you accept the right people into the company, who share your values and future ambition,” Martin urged.

For Martin, it is essential that the entrepreneur presents an idea of a vision of the business, and in what direction the business will head in the next few years. You need to have a vision to become a leader. Structure is key, and also to show a sense of urgency combined with a lot of optimism.

 “You need to find the perfect match”
At the end of the day, it’s all about how you connect. Martin and Jane could not stress enough how central the connection is between the two parties.

“You need to find the perfect match. A business angel is a key player, it has to be a brilliant fit,” said Jane.

It is worth to keep in mind that this person will be with you for a long time ahead. And, of course, by targeting the right kind of investor, identify exactly what you want to get out of it and what skill-gap the investor could fill, there’s a greater chance of finding that perfect match.

_____

Thanks Jane and Martin for spending this Monday lunch hour with us!

Want to hear more from two experienced entrepreneurs? Read our blogposts about Niklas Adalberth, founder of Klarna, and Henrik Lenberg, former VP Soundcloud.

NEWS April 18, 2016

Join STING Accelerate!

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The application period for the next STING Accelerate program is now open. The program round starts in August 2016, and finishes up in January 2017. Do you have what it takes to be a STING Accelerate company? 

Apply-Now

STING Accelerate is the accelerator program that gathers Stockholm’s most promising internet startups. The program provides 7-8 handpicked startups with an exclusive package of funding (300 000 SEK), tailored business development coaching, access to STING’s network of investors and partners as well as free office space at SUP46 in the centre of Stockholm.

> More about the program and the investment 

NEWS April 7, 2016

Worldfavor raises 5 MSEK to revolutionize the management of corporate sustainability data

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Having a strong sustainability profile could mean great value for a company, but no player has taken on the task to digitize and centralize all the world’s comapny sustainability data – until now. The STING company Worldfavor has raised funding to expand and secure this position: 4 MSEK from AXSU Ventures combined with VINNOVA and EU funding of about 1.3 MSEK.

Worldfavor’s cloud-based SaaS solution offers companies worldwide a radical streamlining of its management of information relating to economic, environmental and social sustainability – from collection to compilation and communication. The service can be applied both within the company and in the supply chain, and even visualized toward more and more sustainability-conscious consumers.

– The potential of Worldfavor is fantastic. Digitalizing sustainability reports is both commercially good for businesses and a way to make the world more sustainable. It will be very exciting to join the journey together with the talented Worldfavor team, says Axel Sundstrom at AXSU Ventures.

Worldfavor also releases the possibility for anyone to ask companies for their sustainability data. The vision is that all information should be digital in one place – easy to access, share, compare and analyze.

– The timing is very interesting right now. For example, there is a new EU legislation on sustainability reporting, and we want to ride that wave as much as we can. We expect to increase our user base in the category large companies to about 17,000 within three years on a global scale, says Frida Emilsson, co-founder of Worldfavor.

The product is based on international sustainability standards and already has more than 2000 member companies, including Folksam, HSB and Länsförsäkringar. The investment will mainly be used for expansion with a focus on marketing and sales. The company will also prepare for expansion into the international market.

– We are very happy to have an investor who, in addition to significant expansion capital, will contribute with experience from breaking new ground in the digitalization of a new area, and sales to large corporations. They also have a technical expertise that we value, said Frida Emilsson.

> Read more about Worldfavor

 

NEWS January 21, 2016

High investor attendence at the year’s first STING Demo Day

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More than 60 investors gathered on Tuesday Jan 19 for STING Demo Day, to listen to the twelve STING companies that pitched their business ideas. The event is the final step of the business development programs STING Accelerate and STING Incubate, and attracted a total of 170 specially invited guests.

STING Demo Day, organized by STING, has grown into a very popular event. Twelve startup companies presented their business ideas in areas such as digital health, e-commerce and marketing, for a specially invited audience of 170 investors, business profiles and journalists at the World Trade Center in Stockholm.

The event is held twice a year in order to give entrepreneurs the opportunity to build relationships with future investors, partners and other relevant people who can help them in their growth.

– STING Demo Day has proven to be one of the most important days for our entrepreneurs during the time with us. Today, we have seen strong results and driven team that really has the potential to go far, says Pär Hedberg, CEO and founder of STING.

All startup companies have since the start of the STING progams focused on testing their products and services to customers and sharpen business models and processes to grow faster. The entrepreneurs have made great progress both team- and product wise, with international launches, invetments and new established partnership.

Resrc, one of the companies that joined the program STING Accelerate, is developing a new consulting marketplace that dramatically simplifies the meeting between buyers and sellers. More than 6000 organizations are already using Resrc platform to make better business, and in 2015 received the benefit of the mission ads to a value of SEK 14 billion.

– The best thing about the program is that we have strengthened our focus on growth and reached close to a doubling of the registered company we had from the start. We have good visibility in the media, where we ranked number 7 in Internetworld’s Startup List. The STING team has also opened the doors to the investors, with who we will intensify dialogue when it is nearly time to take the next step in Resrc development and international expansion, says Manuel de Verdier, CEO and co-founder of Resrc.

Resrc also received, as part of STING Accelerate, an investment of SEK 300 000 at the start of the program from STING’s investment company Propel Capital. The investment is given to all teams in the program and with the aim of facilitating teams to focus on their business instead of chasing capital.

During the afternoon, the audience vote for the “Best of pitch”, and after a tight game named two companies winners: Airinum and Resrc.

Here are the companies that presented at STING Demo Day

STING Accelerate

Airinum
Airinum combats one of the biggest health risks in the modern era: air pollution. The company’s first product is a new type of breathing mask for daily use with optimal protection and does not compromise on comfort or design.

Beatly
Beatly provides a marketplace for influencer marketing, which aims to increase its clients’ social media presence, and to simplify for the world’s business to reach out with their message on social media.

Daily Bits Of
Daily Bits Of offers free courses to anyone who wants to work with their personal development. All courses are free, delivered daily via email in small portioned lessons.

Footmall
Footmall is a search and marketplace for shoes. By gathering all the shoes at one place from a variety of retailers helps Footmall shoppers to save both time and money.

Jaramba
Jaramba is a world of adventure on the tablet, where children can freely explore at their own pace and according to their own interests, whether you like pirates, penguins, table tennis or pancakes. In Jaramba all content is carefully selected and free of advertising. Jaramba adapts to each child and tailor a unique adventure every time.

Karma
Karma is a shopping platform in a fun way allows users to find and share great deals. By users contribute content in the app, we get the data that companies need to attract, engage and regain customers, which was previously only possible for large enterprises. Karma is intelligent and learns our users’ shopping patterns, allowing us to provide offers that suit the user based on time, location and relevance.

Resrc
Resrc creates future consulting market by being an independent marketplace that facilitates the meeting between buyers and sellers. More than 6000 organizations already using Resrc platform to do better business. In 2015 got these organizations take part in missions ads to a value of SEK 14 billion.

UNjobfinder
UNjobfinder.org is the leading global career platform in international development cooperation. Through innovative tools and professional support for recruitment, the company matches job seekers with employers.

STING Incubate

Beagle
Beagle is a “lead generation” tool for small and medium-sized enterprises, which make it possible to identify visitors on a website through easy to use forms, and follow their activity over a long time horizon.

Exmet
Exmet develops technology for additive manufacturing (3D printing) of components in amorphous and nanocrystalline alloys. Exmets technology enables weight reductions of up to 90 percent of mechanical components and up to 80 percent reduction in energy losses in magnetic components.

Moggles
Moggles is a virtual reality headset with a modern smartphone makes it possible to step into the virtual reality. Their patented hardware is designed to be portable and user friendly, without compromising on a good user experience.

VisueCare
VisueCare is an innovative new cloud service that aims to ensure a good quality of care and safety of residents and relatives in elderly care. The application will also be a working tool for staff and support staff to do “a good job” in a more efficient manner.

> More information about STING’s programs and how to apply 

NEWS January 21, 2016

Sellpy receives 8,2 MSEK from H&M and more

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The STING Alumni company Sellpy welcomes 8,2 MSEK from H&M and a number of tech investors, the tech site Breakit reveals.

Sellpy, the company that helps you sell the stuff that you no longer use, will now focus on expanding the market and the team. The venture capital comes from the clothing giant H&M (SEK 5 million), Ryska Posten founder’s company Jeansson Pilotti (750 000), Gymgrossisten founder David Frykman (100 000) and the investment company DIG Investment (SEK 1.5 million).

“We are very pleased with the investors who decided to jump on the bandwagon. Both in terms of capital, but of course the knowledge and capacity they represent,” says Michael Arnör, CEO and founder of Sellpy, to Breakit in a statement.

Sellpy makes it easy and painless to get rid of the stuff that are no longer of use. The concept is simple: you order a Sellpy bag, fill it with things you want to get rid of, Sellpy picks it up and then sells the content on Tradera.You share the earnings equally.

> More on Sellpy 

NEWS December 17, 2015

Happy Holidays!

Happy Holidays

Back row: Peo, Raoul, Ivar, Gisela, Göran. Middle row: Agneta, Linda, Pär, Raman, Karin, Fredrik. Front row: Olof, Magnus, Sara, Jill + Maria and Martin.

It has been an incredibly great year for the STING companies and the Stockholm startup community as a whole!

Here is the final Newsletter edition of the year: STING December News.

So what do you want to read more about regarding our companies in the STING Newsletter in 2016? Please send us an email and we will make it happen.

We wish you Happy Holidays and a Happy New Year!
NEWS December 3, 2015

Here is November’s STING Super Seller winner

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Airinum wins STING Super Seller of November, a monthly internal competition among STING’s current companies. The team that has succeeded with the best sales achievement each month is selected as our Super Seller.

Sales is key for us at STING. We constantly motivate, inspire and educate our entrepreneurs in sales tactics and strategy, and it is an area that is regularly taken up in the daily coaching. Each month we run the internal competition STING Super Seller. The winner is chosen by an individual assessment of the entire sales process – not just the total order value, but also about how important the customer or deal is for the company’s growth.

This month the STING Accelerate company Airinumconsisting of Alexander, Fredrik, Johannes and Mehdi, has impressed us a lot! During the month of November, the team has launched a Kickstarter campaign for their first product: a carefully designed breathing mark for the 21st century. The campaign reached the goal of 10 000 USD already after 24 hours, and one week after launch the campaign reached 310 per cent of the goal. Brilliantly well done! 

We asked the team: What are your tricks?
To keep it short: Hard work, lots of social media posting and big-email lists. Then, of course, it’s about offering a product of great quality – both when it comes to material, comfort and design.

Find Airinum in social media: Facebook, Twitter and Google+

Please share the news about Airinum to highlight this month’s winning team, och support their crowdfunding campaign!

> Read more and apply to STINGs accelerator program STING Accelerate
> See what other startups STING works with 

NEWS November 30, 2015

New business coach at STING: Karin Ruiz

Karin-Ruiz_LOWRecently Karin Ruiz joined the STING team as business coach within cleantech and health.

For more than 20 years, Karin has worked in international business development, marketing and sales management positions in both startup companies, multinational corporations and government agencies. Karin’s broad industry background covers health and medical services, Internet/media, ICT, WASH and Food, and the companies Capio and Tetra Pak. During more than five years, Karin was CEO of Peepoople, which gave her valuable experience in BoP markets, social entrepreneurship and expansion in developing countries.

Great to have you onboard Karin!

> Get to know Karin
> Get to now the rest of the STING team