Sting Incubator
| Reference number | |
| Coordinator | Stockholm Innovation & Growth AB |
| Funding from Vinnova | SEK 8 000 000 |
| Project duration | January 2019 - February 2021 |
| Status | Completed |
| Venture | 2015-00071-en |
Important results from the project
The goal was to create an inflow so that we could evaluate at least 300 companies / year. The outcome is 225 for 2019 and about 300 for 2020, ie a total of 525, which is in line with the target. The goal was for about 60 companies to be admitted to the incubator in 2019 and 2020. In 2019, 31 new companies were adopted and during 2020 33. A total of 64 new companies have been adopted so this goal has been achieved. The goal was that approximately 25 companies / year would be “graduated” (ie 50 companies during the period) and become alumni companies, and during the period 55 companies graduated.
Expected long term effects
Since 2002, we have accepted 335 companies. In December 2019, the Sting companies had sales of 284 MEURO, of which 64% were international sales. When the companies are admitted to Sting, they normally have no sales at all. The Sting companies had 2755 employees in December 2019. Normally, the Sting companies have 2-3 employees when they are admitted. Until 2019, the Sting companies had attracted 603 MEURO in private capital, 158 MEURO in public financing and were worth 1.9 billion Euros.
Approach and implementation
The execution has followed the approved project plan without any major deviations. The Corona pandemic in 2020 has meant that the business has largely had to be transferred to a digital format in the spring of 2020, which has largely worked well.