Sting

Sting (Stockholm Innovation & Growth) is a prominent tech incubator and accelerator based in Stockholm, Sweden, established in 2002. It plays a crucial role in the Nordic startup ecosystem by providing comprehensive support to early-stage technology companies. Sting's mission is to enable talented individuals to transform innovative ideas into sustainable businesses through structured programs, mentorship, and access to a vast network of experts and investors.

Sting offers distinct programs, primarily "Sting Incubate" and "Sting Accelerate," tailored to different stages of startup development. For companies accepted into the Sting Incubate program, Sting provides an initial direct investment in the form of a convertible note. This initial capital injection is a fixed amount of SEK 500,000, which translates to approximately USD 48,000, demonstrating their commitment to providing foundational financial support alongside their extensive non-financial resources. While this is their typical first cheque, their primary value proposition extends beyond direct capital to include intensive coaching, business development, and strategic guidance.

Sting's impact on the Swedish and Nordic startup landscape is significant. Since its inception in 2002, Sting has supported over 350 startups, fostering a robust pipeline of innovative companies. Their comprehensive approach has yielded impressive results, with more than 70% of Sting-backed companies remaining active after five years, a testament to the effectiveness of their programs. Furthermore, companies that have participated in Sting's programs have collectively raised over 9.5 billion SEK (approximately USD 900 million) in follow-on funding from external investors, underscoring Sting's ability to prepare startups for successful capital raises and long-term growth.