AnnuAl RepoRt 2008 foR Stockholm InnovAtIon GRowth

AnnuAl RepoRt 2008 foR Stockholm InnovAtIon & GRowth 2008 – What a year ! STING is now in its seventh year of operation. Our goal from the start has been for 12 new, robust growth companies to leave the business incubator each year to venture out into the world on their own. 2008 was the first year we achieved this ambitious goal – something we are very proud of. Over the course of the year, private investors invested SEK 133 million in STING companies and since the start of 2002, SEK 520 million have been invested in the 58 companies we have had the privilege of working with. Growth also took off during 2008. STING companies now have over 350 employees and their net sales will soon reach SEK 200 million. The combined value of the companies (based on their individual value at the time of the most recent investment) was SEK 1.9 billion. In this year’s annual report, we are pleased to present a number of other interesting figures showcasing both our own growth and that of the STING companies. The strong development of STING companies during 2008 resulted in STING receiving the international award for the Fastest Growing Incubator of the Year, beating 53 other incubators across the world. The prize was awarded based on the growth of the incubator companies over the preceding three years, which made the award even more impressive. Fostering and channeling growth through professional business coaching forms the basis for our work. The inflow of new project within all three of our technological fields – ICT, Cleantech and Medtech – continues to be very good. In 2008, we met with and evaluated over 150 interesting projects and companies, nine of which were eventually accepted into the business incubator. During 2008, we also launched our own inhouse recruitment service – STING Search for Talents - with the purpose of helping our companies to cost-effectively find and attract key staff. Adding this service to our offer means that STING now has its own channels both for securing financing, through STING Capital and STING Business Angels and for finding competence through STING Search for Talents. This is a big step forward in our continuous development. So what does the future hold for us? In 2009 we aim to launch our revamped internationalization program, Go Global 2.0. We will also increase our intake of Internet and media related companies and will therefore consequently strengthen our coaching expertise in this area. We will also continue to develop our coaching tools within the area of team building, helping our companies to define their common vision and path forward. We have not yet felt the effects of the deep recession to any serious degree. It is certainly a little harder to secure financing for those STING companies looking for SEK 5-10 million, but the flow of ideas is still very strong. Those who succeed in starting and surviving during a recession are likely to do very well later on. With this in mind, we are stepping up the pace and will most likely invite even more companies to join the incubator in 2009. STING Capital, our affiliated venture capital firm, will also continue to invest in companies in their very early stages of development. At STING, we are driven by a passion for developing our companies and supporting the entrepreneurs in their amazing journey from seed to success. Sweden needs new, dynamic growth companies, and we at STING are proud to be involved and doing our part of the job. The task is more critical today than ever before. For us at STING, the future looks bright. Pär Hedberg, CEO and Business Coach. “Our goal from the start has been for 12 new, robust growth companies to leave the business incubator each year to venture out into the world on their own. 2008 was the first year we achieved this ambitious goal – something we’re very proud of.” “We are currently the global leader – by far the biggest in our segment – and will increase our sales fivefold this year. STING has given us invaluable credibility as a company and has opened doors for us, thus facilitating our development.” Niclas Reimertz, Eviware STING – a world class support system for technology startups STING helps innovators and entrepreneurs to build export oriented technology companies. With the support from industrially experienced business coaches we help new Swedish technology companies grow internationally and to generate exports to Stockholm. Through our venture capital fund STING Capital and the investment network STING Business Angels, we also offer financial services at early stages. Our business process consists of four independent support programs: Startup, Business Lab, Business Accelerator och Go Global. STING is designed for entrepreneurs and innovators from academica, research institutes and from the business sector. Vision STING shall be a support system of international quality and the natural first choice for innovators and technology entrepreneurs wanting to build export oriented companies. In order to attract the best innovators and entrepreneurs our programs and our networks should be of world class quality. Mission STING shall actively support the formation and growth of 12 new technology companies focused on exports per year in Stockholm. The companies should have good commercial survival prospects and a good chance of having 15-30 employees and export sales within five years of leaving STING. organization The Electrum Foundation owns STING. Behind the foundation are the City of Stockholm, KTH (the Royal Institute of Technology), Ericsson, ABB, the research institutes in Kista and industry and real estate owners in Kista. STING is a non-profit company and is financed in part with public funding from the Electrum Foundation, Innovationsbron, and in part by private partners and own generated financing. Our main partners are Innovationsbron and KTH. Business process STING’s business process consists of four different and highly advanced programs offered to innovators and entrepreneurs. Each program focuses on developing a growth company with a global reach based on a technological innovation. Participants can take all four programs, or choose just one or two to suit the specific requirements and conditions a person encounters when building an international company. The four programs are described below. startuP – TraININGprOGram ThaT verIfIeS yOur buSINeSS Idea Startup is a practical trainingprogram for the individual with an idea for a potential export-oriented company. Here, as a researcher, innovator, or entrepreneur, you receive an excellent foundation in preparation for founding a company. business Lab – frOm Idea TO INduSTry Business Lab, BL, is designed for the person with a product idea or research result who wants to develop and test it - but at a very early stage. A highly experienced business coach will help you a half day per week, analyzing the technical and commercial preconditions for building an international company. Fully equipped office space is included free of charge and you may utilize other support functions from STING. business acceLerator – GeT ready fOr a markeT INTrOducTION In the Business Accelerator, BA, we support the development of recent technology companies with potentials of becoming the future’s export companies. To ensure a powerful realization of your business idea you will have access to a business coach a half day per week. You or your team should be done with the initial phase, started the product development, and be ready for marketing activities. We assume that you will give 100% and work full-time. Because we want to collaborate closely you will have the opportunity to rent cost-effective office space through STING. go gLobaL – expaNd INTerNaTIONally Go Global is designed for technology companies with an annual turnover of 5-10 MSEK who have made the decision to expand internationally. With the support of business executives who themselves have made international journeys you improve your chances of a cost-effective and successful internationalization. After completion you will first and foremost have a concrete internationalization plan you can present to international venture capital companies. You also develop a qualified network. “STING has helped us throughout the journey – from spinning‑off through to development into an an independent company. STING has helped us to refocus from technical development and into the sales and marketing phase of building our business. STING has also given us access to a broad network of people who have given us support at the right time.” Bernhard Hirschauer, CEO IRnova Financing STING supports its companies in obtaining optimized financing. The first step is normally to apply for funds from various public financiers. We also work to obtain customer or supplier financing to fund development of the first product. Once this has been done, then it’s time for venture capital in different forms. We have a wealth of experience in how to go about this, and have close relationships with the Scandinavian and European venture capital firms. Many of our companies have received investments from the leading players. We also have our own financing resources, described below. sting caPitaL – uNIque veNTure capITal fuNd Sting Capital offers financial support at very early stages to companies with innovative and unique technological products that could develop into companies with international growth potentials. STING Capital invests, very early. You must neither have a fully developed product nor have paying customers. The investors in the fund are both public organizations and private investors such as angel investors. Even companies not involved in any of STING’s qualified support programs may receive funding. sting business angeLs – The INveSTOr NeTWOrk The angel investor network STING Business Angels focuses primarily on technology companies at a very early development stage with the specific requirement that its investors lend their business skills to the companies. All the business angels are selectively invited to the network based on their background as proven technology entrepreneurs. STING Business Angels is exclusively for the STING-companies and to date the network has invested in 13 of our companies (a total of 39 MSEK). KicK start – ecONOmIc SuppOrT TO paIr up reSearcherS WITh eNTrepreNeurS The Kick Start program means that if an entrepreneur becomes the CEO/leader of a project started by a researcher, he or she may earn a base salary of maximally 18 000 kr/month for the following ten months. The preconditions are that the company is part of STING’s incubator program and that the entrepreneur receives an ownership stake in the company. This unique financing programme shall contribute to more research results becoming potential export oriented companies. To achieve that goal, an experienced entrepreneur driven by business transactions is needed. “We would never have succeeded in starting up the company without STING’s early financing. additionally, through STING we also gained access to office space close to the electrum laboratory in kista which has been very important and time efficient for us. The business coaches gave us a network that has been crucial to those of us who had not previously been involved in a startup.” Per Wiklund, CEO Scint-X “Our time within STING has provided us with everything from support in formulating a business plan, to advice on patents – and now even the recruitment of a talented board. STING also gave us early capital through STING capital, facilitating the construction of our first prototype.” Sudhir Chowdhury, founder Predect The STING Companies ■ ICT ICT (Information and Communication Technology) is a key area for STING. Several of STINGs business coaches have extensive ICT development experience and valuable networks – not just within the Kista Science City ICT cluster but also internationally. business Lab bLoo ab is developing a smart LBS (LocationBased Service) platform with a unique positioning method. Two consument oriented mobile services are being developed on top of the platform. BlooFlirt: Enables sending of messages with mobile phones between members that are within eye sight, without requiring any mobile phone numbers! BlooMingle: Enables automatic business card exchange with mobile phones between members that are within eye sight, without requiring any mobile phone numbers. www.bloo.se ■ byteactiVe is developing a new technology which enables more effective data storage and backup. The company’s primary market segments are small- to medium sized businesses and private users who own digitally stored information. The company’s BaQup product line simplifies and automates data backup via networks, via the Internet, and to local storage mediums. www.byteactive.com ■ ■ MEDTECH Medtech, or medical technology, is historically a field in which Sweden is at the forefront. Several of today’s leading international medtech companies began in Sweden. Now STING is helping to develop the leading companies of tomorrow using internationally recognized cutting-edge research and with the support of STING’s network and expertise. ■ CLEANTECH In recent years cleantech, or environmental technology, has become an increasingly important sector internationally. Thanks to an early start in Sweden, we have many innovative solutions and ideas for tackling climate problems. A number of them are represented within STING, which is also organizing the Stockholm Cleantech Venture Day and is behind the Stockholm Cleantech Business Network. brigHter develops and commercializes innovative solutions for diabetes care. Improving life quality of diabetics, Brighter One constitutes an easy to use, portable, and discreet solution. www.brighter.cc ■ ■ trioxytecH develops a technology that uses ozone to disinfect sensitive medical instruments. The technology combines maximal microbial elimination with minimal material corrosion. ■ ePiQ Life Science AB develops innovative solutions for the diagnosis and treatment of atrial fibrillation, and coronary disease, that dramatically shortens procedure time, reduces cost and increases the quality of care. Electrophysiologists and interventional cardiologists can better manage the increased demands for efficiency and cost reduction that care givers across the globe are challenged with as a consequence of the aging population in the world. www.epiq.se ■ Mantex discloses content and can therefore increase the value of production and save energy. In almost all industrial processes with Bio Material it’s of great interest to know the amount of wanted and unwanted substances such as moisture content etc. Mantex patented industrial measurement devises discloses content fast, to enable these processes to save energy and increase yield. www.mantex.se ■ ■ business acceLerator antrad MedicaL ab has developed the new standard device in the market for rapid thawing and warming of plasma and blood in less than 5 minutes. Documented advantages includes, significantly faster, saving scarse human material, improved logistics in operating room, improved economy, hygiene aspects. www.antrad.se ■ ocuLusai is sprung out of cutting edge computer vision research. The technology is based on the computer’s ability to intelligently recognize faces and other objects in images- and video. OculusAI develops a unique solution for » automatic face detection and face recognition which combines high precision with flexibility and speed. www.oculusai.com ■ (the very same month) became Sweden’s first profitable online video site. www.videoplaza.com ■ PLagazi is a cleantech company focusing on plasma gasification of waste for the production of clean hydrogen for process industries. Plagazi delivers a Turn-Key solution for customers reliant on hydrogen whilst treating municipal waste in a clean and efficient manner. The process is also suitable for fuel cell powering. www.plagazi.com ■ WussaP is a service that creates social web surfing, which creates meeting places on the Net for a wide-ranging user group. Limited tools for reaching the right target groups at the right moment exist today. Wussap delivers accurate marketing channels to both site owners and advertisers. www.wussap.com ■ “As a result of our contact with STING we have changed our mindset. Instead of getting bogged down in technical issues, we are now looking at the big picture and asking what the customer wants.” Johan Ingvast, CEO Bioservo Technologies reHact has developed a unique system that combines heating, cooling and ventilation in a inventive distribution system. 85% of the energy needed in the system comes from renewable energy sources. In order to link the sub systems together, Rehact has developed and patented a new ventilation unit, combined with a heat exchanger called AHE. www.rehact.com ■ soLarus solar thermal collector is a unique system on the international market. The system has a seasonal levelling feature which enables a larger solar fraction. The efficiency peaks during the winter season. With 50-70% less metarial content than other solar collectors, the production cost can be reduced significantly. The system enables shorter payoff time which makes the solar energy more competable with other sources of energy such as power, oil and district heating. www.solarus.se ■ VideoPLaza develops an advertising platform for online video. The product delivers new, interactive, ad formats that better takes advantage of the possibilities of online video. By doing that, VideoPlaza creates new ad inventory for their customers, which dramatically increases their potential revenue. VideoPlaza launched its ad system in March 2008 with Swedish tv-channel Kanal5 whom aLuMni coMPanies acuMeM develops advanced software technology for software applications. Advantages include faster computers without the expensive hardware upgrades this generally implies. More effective applications make it possible to use cheaper hardware in built-in systems. www.acumem.com ■ bioserVo tecHnoLogies ab develop, produce, and sell devices that strengthen muscles. The first product is a glove that strengthens your grip. With the glove, the elderly regain their hand’s former strength, the younger can grip stronger, and the construction worker can lift more. www.bioservo.com ■ “The investment from the venture capital company STING Capital and the support from STING in the merger process with Gipz have been very important to the company’s development.” HULU bytesHieLd increases the ”work” needed to ”crack” an application from a few weeks to many, many months through for example moving data to a seperate, protected module and replacing it with data that gives the impression of being correct. www.byteshield.net ■ catHPrint develops a catheter for continual supervision of the heart during thorax operations and intensive care, making this safer, giving better care, and decreasing medical ■ ICT ■ MEDTECH ■ CLEANTECH expenses by as much as 50%. The product can replace some current routines and will be primarily sold to large hospitals on an international market. www.catheter.se ■ ■ diaMorPH develops advanced glass and ceramic materials with notable properties. These include world records in hardness, record high breaking indexes, world class magnetic properties and very high thermal stabilities. www.diamorph.com ■ cortus develops a process, WoodRoll, to produce gas with a high heat value (pure synthetic gas) from bio fuels. With this carbon dioxide neutral method, both the process industry with its demands on high energy content in gas and the transport industry can be supplied with renewable energy instead of fossil fuels. The result is lower energy costs, environmental benefits, and a more advantageous process itself. www.cortus.se, www.woodroll.se ■ coMPuMine are dedicated to enabling time and money savings by making better decisions and finding answers to business and scientific problems through data analysis. More specifically, we are making it possible for our clients to make reliable predictions and gain insights from their own data, without major investments in time, training or software. www.compumine.com ■ eViWare softWare supplies soupUI that at 25,000 downloads is the world’s most used software for design, development and quality control of Web Services. soupUI also saves up to 20% of the cost of a Web Service project while simultaneously raising the quality. The software circulates today as openware and has 10,000 users in the world. www.eviware.com ■ fraMe access develops and sells a cost effective platform for bio-medical and IT-security companies based on state-of-the-art platform technology. Our mission is to create win-win situation and via innovation on our core technology area provide significant added value and growth of our customers. www.frameaccess.com ■ “We gained several years head start as a result of STING’s help. To have STING’s support in defining our business model and adapting our product to today’s market has been of great value for us.” Martin Ljungren, CEO Zebor Technology cuPtronic develops a production technology to produce manufacture very advanced design boards with a lower environmental impacts as well as markedly lower costs than competing solutions. ■ HuLu internet eVeryWHere is a Swedish company using the international WiMAX technology. WiMAX technology is the next generation’s mobile broadband. HULU develops electronics for mobile network products for network developers and users of the WiMAX technology. www.hulu.se ■ “An important lesson from our time within STING has been the importance of developing strong networks with the right people.” Rolf Ljunggren, CEO Cortus cybergene develops and sells medical test kits for genetic diagnostics. ChromoQuant® QF PCR kit is a CE marked diagnostic kit for fast detection of chromosome disorders in foetuses. Accompanied with decision support software Visualizer™ enables test time to be reduced from weeks to day/days. CyberGene is also a high quality provider of related products and sevices. The customer base is world wide. www.cybergene.com ■ ■ inVieWs product ippi™ may connect directly to an existing television and makes it possible to receive pictures, sounds and text from a cell phone of PC and easily answer with speech. The large TV screen and speakers give families and elderly a improved experience of mobile multimedia services such as MMS (for pictures and speech messages or video clips), and SMS for text messages or email. www.inview.se ■ “STING has given us access to an excellent network of partners and potential investors. Thanks to STING’s business coaches, we have also been successful not only with recruiting but also in building relationships with new customers.” Johan Ljungberg, CEO Peeralism irnoVa develops and produces high performance IR detectors for detecting objects in inky darkness. Customers exist worldwide with future potential in Asia for defense and surveillance as well as process control and gas detection. With the slogan ”Sense the invisible” the company offers flexible IR solutions to its customers. www.ir-nova.se ■ today. The technology is cost friendly and may be used for cordless charges and batteries for mobile electronics. The fuel cell’s high energy density may for example be used by cell phone batteries which means that a cell phone could be used significanly longer without needing to be charged. www.myfc.se ■ PLasMatrix’s business idea is to develop, produce, and sell surface coatings that dampen vibrations. These are primarily intended for the mechanical industry to give better precision, better surface quality, longer life span for machines and lower production costs with mechanical work. ■■ Predect ab is a technical company with a product for real-time surveillance of drinking water, tap water and water for food and drug production. Customers save money by detecting water pollutants early on, receiving quick analyses, and limiting product waste and consumer complaints. www.predect.se ■ radio innoVation’s business idea is to reduce mobile operators’ costs for coverage and capacity by 80, 90 or 95%. Through 50 unique rules for antenna, mast, and base station design, Radio Innovation creates unparalleled customer value. www.radioinnovation.se ■ LiVsLuft develops one of the worlds smallest and most intelligent so called CPAP-devices to eliminate sleep apnoea. It markedly improves the life quality of people with serious snoring problems. www.livsluft.se ■ obstecare develops a delivery surveillance system for Point-of-Care use. The system builds on a new diagnosis method that ensures that delivery times may be drastically reduced during long and complicated deliveries. www.obstecare.com ■ MidsuMMer develops a new method of producing solar cells with radically lower costs. ■ oPticaLLs vision is to develop and supply companies with innovative products and telephone solutions that significantly lower the companies phone costs while increasing their mobility. OptiCall lowers the cost of calling between landlines and mobile phone by about 60% by routing the calls via the mobile network instead of using the existing land lines, as in today. www.opticall.se ■ MobiLe sorcery has developed a tool that makes it simpler, faster and more cost effective to develop and transfer software, applications and services for cellphones. An application is created with the tool in a PC-environment and may then automatically be transferred to large number of different cellphone models. The customer segment is: mobile game developers, consults in mobile development, large websites who wish to develop a mobile channel, and more. www.mobilesorcery.com ■ Musifier personally developed program for adaptive music creation, Musifer Virtual Orchestra, enables producers of computer and video games to ramp up the quality of their products by generating a continuous flow of music that continusouly adapts itselt to the real-time events in the game. www.interamus.com ■ Myfc has a unique, patented fuel cell reactor that ranks as the most flexible worldwide PeeriaLisM provides a p2p based distribution solutions for online video and web-TV content. Partly based upon research results from the Swedish Institute for Computer Science, the solution lowers cost up to 50%, and expands reach up to 100 times. Customers are primarily content owners and broadcasters. www.peerialism.se ■ PHoxtaL coMMunications develop integrated optical components for Fiber-To-TheHome networks. PhoXtal combines the latest research with proven technology to create cost effective solutions. The company was founded in 2002 by KTH researchers and experienced entrepreneurs. info@phoxtal.com ■ rePLisaurus tecHnoLogies develop and sell a production technology for the electronic and semiconductor industries based on the company’s patented ECPR™-process. The electronic copying technology ECPR can with fine precision create metal designs on the micro and nano scale, which is their turn build up the various circuit layers in a semiconductor. Compared to existing solutions, ECPR offers increased precision, a simplified production chain, and a cost reduction of about 50% when compared with existing methods. www.replisaurus.com ■ safeMind develops technology based security products for saving lives. The products include functionality to avoid drowning accidents and locate individuals through radio, sensors and positioning technology. (Business altered). ■ ■ ICT ■ MEDTECH ■ CLEANTECH scint-x develops a so called structured scintillator for reproducing X-ray detectors’ pictures with both better resolution and sensitivity. ScintX technology also processes so called intra-oral X-ray sensors both at a lower price and with more ease. This technology is more and more replacing traditional X-ray film among dentists. www.scint-x.com ■ lead identification phase, our product reduces time by 20%. Our main customers right now are drug developers. We hope to target other research sectors such as universities and biotech companies. www.symcel.se ■ ■ Vocab develops intelligent web and mobile learning solutions. Together with leading educational publishers, content aggregators and mobile operators Vocab offers entertaining and effective learning applications as Software as a Service to the business and consumer market. The tools measure the individual’s ability to learn different things and adapt the learning process to achieve maximum effect. www.vocab.se ■ scirocco has developed a new identification technology based on infra red light that gives unique advantages in factory automatication and transport logistics. Through quick and effective identification of objects, carts, containers, and vehicles, customers save capital from their material flows. www.scirocco.se ■ sensegraPHics’ main product is an application tool (named H3D API) that is used to develop multi sensor or haptic applications. SenseGraphics’ software has a double license model; an open license that allows for noncommercial use of API and its open source software as well as a commercial license that requires a license payment for application development. www.sensegraphics.com ■ syMceL develops and sells a measurement instrument, CalScreener, with accompanying working materials. For the customer, our product reduces the time for a project. We estimate that for a drug project on perhaps the syntune supplies lasers for the telecom sector. The innovation reduces costs for WDM systems and will be a key component in new broadband flexible fiber optic networks. www.syntune.com ■ teMP aLert develops a temperature indicator to indicate if a medicine has been stored at an incorrect temperature. Every day a large amount of medicine is discarded, and Temp Alert hopes to radically change this with its low-cost product. The product will also be more reliable and user friendly than competing products on the market today. ■■ yubico offers a new technology to easily, quickly, and securely log on to websites and networks. With an innovative USB-key and open protocols for identification, the same identity can be used for a boundless number of internet services. www.yubico.com ■ zebor Technology sells and promotes the world’s only Green Operatingsystem. It is the fastest, most cost-effective, most productive and most environmentally friendly scaleable application-platform for computerbased products, platforms and embedded systems. Our combined products ZDOS and ZBIOS deliver the same, or faster results on a 3W-processor where other Operatingsystems require 55Wprocessors. As a result of this a less expensive processor can be used, saving up to 80% on the processor-cost. www.zebor.com ■ transic designs and manufactures bipolar energy transistors in silicon carbide. With the help of these advanced components, TranSiC’s customers can develop more compact and temperature resistent steering systems for electric motors that will grace the next generation’s electric hybrids and wind power stations. www.transic.com ■ ■ ■ ICT ■ MEDTECH ■ CLEANTECH “at the start we faced all the challenges that a start‑up can experience – in fields ranging from recruitment through to financing and technological development. STING’s business coach was very important to our development by being an inspiring and supportive sounding board throughout our journey.” stina ehrensvärd, ceo yubico “cyberGene received financing through STING, enabling us to continue investing in sales and development of our diagnostic products. We have also benefited from a network of people who, through their wide‑ranging skills and experience, have contributed to cyberGene’s development.” Heléne Olsson, CEO CyberGene AB STING Search for Talents The ability to build a winning team is a key success factor in creating a company. With this in mind, STING has the ambition to help its companies to find and attract talented individuals and also to support them in defining a common vision and company culture going forward. During 2008, STING therefore developed and launched its in-house recruitment service, STING Search for Talents. Through STING Search for Talents, the STING companies get support through the entire recruitment process: Process ManageMent Access to STING’s e-recruitment system with the aim of facilitating and professionalizing the recruitment process. Recruitment toolkit: checklists, guidelines and templates for e.g. ads and competence profiles. searcH Access to STING’s network and candidate database. STING Online: www.stockholminnovation.com/talents, exposure in STING’s newsletter, jobagent. External web advertising. seLection Tools for CV screening. Support in the interview process. Formats for tests and cases. Hiring Examples of employment agreements, incentive structures etc. “It is the people that make it or break it for startups. We want our companies to be able to attract the stars that can take them to the next level and have the ambition to help them in doing so.” Maria Nilsson, STING Search for Talents www.stockholminnovation/talents Facts and figures resuLts 2002-2008 business Lab & business acceLerator No. of projects/companies evaluated: Projects/companies admitted: Total value: Accumulated publicly invested capital: Accumulated privately invested capital: No. of patents pending: No. of patents granted: No. of employees: Turnover 2008: 738 58 1.905 MSEK 142 MSEK 520 MSEK 98 40 351 198 MSEK admitted companies 2002 Vocab Safemind admitted companies 2003 Replisaurus Diamorph Syntune Cuptronic ByteBlaze Frame Access In View PhoXtal Scirocco Total no of employees 2008 4 10 no of employees 2008 80 8 23 4 3 2 5 2 5 146 startup – a practical training programme Projects accepted to Startup (7 rounds):..................................................... 99 internationalisation No. of companies to expand internationally:................................................ 13 sting capital – a unique venture capital fund 17 separate investments with a cumulative value of 27 MSEK have been made since the beginning of 2006. Can invest up to SEK 4 million per company sting business angels – our business angel network Has invested approximately 39 MSEK in 13 STING companies and STING Capital. eMPLoyees More than 80 employees More than 20 employees More than 10 employees More than 5 employees 1 company has been listed on the stock exchange: sources to sting 8 % of all evaluated projects/companies have been admitted to Business Lab (BL) of Business Accelerator (BA). Of all admitted 64% have been admitted to BL and 36% to BA. 37 % of total admitted come from universities/research institutes. 50 % of admitted to BL come from research sector 26 % of admitted to BL come from Startup. 26 % of admitted to BL, not further to BA. 14 % of admitted to BA come from research sector. 1 company 2 companies 7 companies 12 companies Scirocco cumulative public financing of sting in relation to numbers of employees 2008 in all companies 167.236 SEK Incubator cost per employee. TURNOVER, MSEK 200 180 160 140 120 100 80 60 40 20 0 2002 2003 2004 2005 2006 2007 2008 ACC PUBLIC VS PRIVATE FINANCING, MSEK 600 550 400 350 300 250 200 150 100 50 0 NU CING, MSEK 600 550 500 450 400 350 300 250 200 150 100 50 2007 2008 0 ACC PUBLIC VS PRIVATE FINANCING, MSEK NUMBER OF COMPANIES AND EMPLOYEES 400 350 300 250 200 150 100 50 0 400 350 300 250 200 150 100 50 0 500 NUMBER OF COMPANIES AND EMPLOYEES ADMITTED AND RESULT 450 60 400 55 350 50 300 45 250 40 200 35 150 30 100 25 50 20 0 15 10 5 0 2002 2002 2003 2004 2005 2006 2007 2008 60 55 50 45 40 35 30 25 20 15 10 ADMITT Public financing Private financing 2002 2003 2003 2004 2004 2005 2005 2006 2006 2007 2007 20082008 5 0 2002 2002 2003 2002 2004 2003 2005 2004 2006 2005 2007 2006 2008 2007 2008 Public financing of admitted companies Number Private financing of employees in active companies Number NumberAdmitted to incubator of admitted companies NumberLiving dead / changed idea of employees in active companies Discontinued Adm Livin Disc MSEK 400 350 300 250 200 150 100 50 NUMBER OF COMPANIES AND EMPLOYEES 60 55 ADMITTEDDEALFLOW BASED ON ORIGIN AND RESULT Not researchers, university (2) Research-based, enterprise (2) GIN DEALFLOW BASED ON ORIGIN Research-based, enterprise (2) 50 45 40 35 30 25 20 based, enterprise (2) researchers, university (2) Not Research-based, university (42) Research, institute (4) Not researchers, enterprise (98) 2002 2003 2004 2005 2006 2007 2008 ased, 2) Research-based, university (42) Research, 2008 institute (4) 15 10 5 2008 Research, 0 institute (4) 2002 2003 2004 2005 2006 2007 0 ) Not researchers, companies Number of admittedenterprise (98) Number of employees in active companies Admitted to incubator Living dead / changed idea Discontinued The team STING has a strong team with complementing experiences and competencies. Our business coaches have solid backgrounds as executives in technology companies and from the venture capital industry. The STING team shares the passion for supporting our entrepreneurs and building growth businesses. Pär Hedberg CEO & Business Coach ICT uLf brandeLs Business Coach ICT raouL stubbe Business Coach ICT Magnus reHn Business Coach Cleantech gösta sjöHoLM Business Coach Medtech oLof bergLund Business Coach Medtech “develop your prototype in collaboration with a potential customer.” Has worked with developing completely new technology companies since 1998, focusing on financing, production and sales. Has conducted “rescue missions” for companies in need and reconstructions, as well as building up companies in other countries. STING´s founder. “find a paying customer fast.” Has during fifteen years worked with sales, for instance at a large american software company. Has founded, bought and sold companies. His experience also includes CEO roles and boardwork. Business Coach STING since 2002. “analyze the whole deal, it’s the most profitable customer in the long run that’s right.” Started Proximion Fiber Optics in 1998 and as CEO and later CTO participated in building a venture capital financed international export company. Worked earlier at the research institute ACREO on tasks from Swedish industry. Business coach STING since 2005. “international expansion should be part of the plan from day 1.” Former co-founder/CEO of TagMaster AB. Has great experience as a CEO, typically worked with international marketing, development, sanitation and organization. Has also worked as marketing and sales executive as well as having been on boards of companies targeted for reconstruction. Business Coach STING since 2007. “sting helps the company to faster find financing.” Former CEO of SIDEC Technologies AB. More than 25 years experience from the life science industry. Has extensive experience with large, international companies but also personal experience with startup companies. Business Coach STING since 2005. “sales and marketing start far before the product is launched.” Olof has an MBA in marketing and administration, and has 20 years of professional experience working in the pharmaceutical and medtech industries. He has worked his way up the hard way, starting as a salesman, becoming a sales manager, key account manager, production manager, marketing head, commercial director, market director, as well as a CEO. Business Coach STING since 2008. board MeMbers eLectruM foundation Chairman: ULf WAHLBERG, Vice President External Industrial and Public Relations, LM Ericsson. STEN NORdIN, Mayor, City of Stockholm. JOHAN EkESIöö, CEO, IBM-Nordic. HANS HENTZELL, CEO, Swedish ICT Research. PETER GUdMUNdSON, President of the Royal Institute of Technology (KTH). MARTIN THUNMAN, CEO, Gazella. ANdERS NyLANdER, CEO Atrium Ljungberg. ULf SANdMARk, CEO, Electrum Foundation. OLLE ZETTERBERG, CEO, Stockholm Business Region, deputy. MIkAEL öSTLING, Dean, Royal Institute of Technology, School of ICT, deputy. Martin geMViK Investment Manager, STING Capital Maria niLsson Coach Recruitment, Marketing & PR. Network Manager STING Business Angels Lina KårfaLK Marketing and Communications Manager board MeMbers stocKHoLM innoVation & groWtH ab CEO: PäR HEdBERG Chairman: OLLE ZETTERBERG, CEO, Stockholm Business Region. ULf SANdMARk, CEO, Electrum Foundation. kENNET åkERBLOM, CEO, Kista Science City AB. A thorough background in the private equity industry. For example as Investment Manager at FöretagsByggarna AB, Portfolio Manager for the VC-funds Slottsbacken I, Slottsbacken II and Aumar (6:th AP Fund) and a number of board positions in different listed as well as unlisted companies. Investment Manager for STING Capital since 2007. Various positions within marketing, communications and network building in the private equity industry. Most recently as Head of Business Angel Relations at the Swedish Private Equity & Venture Capital Association and prior to that at Industri Kapital, a leading Nordic private equity firm. Joined STING in 2008. Has among other positions worked as project manager within marketing communications & brand at Lantmännen during a major business change process. Experience within marketing, Internet and IT-related businesses. Joined STING in 2009. sting’s strategy grouP Chairman: ROLf SkOGLUNd, Entrepreneur; previously CEO, Microsoft Sweden; IT-executive Ericsson; founder Startup Factory. kATARINA BONdE, Angel Investor; board member of SVCA as well as a number of technology companies. ERIC GIERTZ, Vice principal, KTH for business collaboration. MIkAEL öSTLING, Professor, KTH; head of ICT school Kista. AGNETA JACOBSON, CEO, Ivar Jacobson International. JAN NyLANdER, Vice President, Innovationsbron. MARTIN THUNMAN, CEO, Gazella. PATRIk EWALdSSON, CEO, Syntune.