Sting

What Sting does

Sting is a Stockholm-based, non-profit startup accelerator and incubator operating since 2002 under the legal entity Stockholm Innovation & Growth AB and owned by the Electrum Foundation. It serves early-stage tech founders across four focus areas — Health, Climate, Society (including AI), and DeepTech — through a unified six-month flagship program called Sting Core (launched October 2025, replacing the prior Sting Incubate and Sting Accelerate), alongside vertical programs such as Sting Climate Race, Pre-Sting offerings (Startup Academy, Open Coaching, Test Drive), and the Science to Business initiative that funds academic spin-offs. The organization is monetized indirectly through public and institutional grants from partners including Vinnova, the City of Stockholm, Region Stockholm, and EU/ERUF funds, rather than through per-startup program fees that are publicly disclosed.

Beyond program delivery, Sting operates two investment vehicles that sit alongside its accelerator services: Propel Capital (founded 2014, 170+ portfolio companies, providing up to SEK 500,000 per qualifying startup) and Turbine Capital (a Sweden-first DeepTech-dedicated VC fund initiated by Sting targeting SEK 750 million in size, backed by the European Investment Fund and industrial LPs Scania, Saab, and Stena). Its go-to-market is community-led, relying on direct applications, nominations, university referrals (notably from KTH and six other Swedish university-affiliated DeepTech incubators), and demo days to source deal flow, while also participating in pan-European alliances such as Rise Europa spanning 13 countries. Technology-wise, Sting does not develop proprietary software products; it is fundamentally a services and capital platform, with the underlying "platform" being its coaching network, investor relationships, and ecosystem partnerships rather than a software stack.

Name

Sting

Legal name

Stockholm Innovation & Growth AB

Website

https://sting.co

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

Sting is a Stockholm-based, non-profit startup accelerator founded in 2002 that runs a six-month flagship program (Sting Core) and vertical tracks in Health, Climate, Society/AI, and DeepTech, serving early-stage tech founders with coaching, ecosystem access, and follow-on capital via Propel Capital and Turbine Capital.

Ownership category

akta.pro rank

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Non-profit Structure: Sting is a non-profit company owned by the Electrum Foundation, conducting incubator and accelerator activities in Stockholm.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Sting is a startup accelerator and incubator that runs a six-month flagship program (Sting Core) providing business coaching, investor access, and structured growth support to early-stage tech founders in the Nordics. The organization operates supporting programs including Sting Climate Race, Pre-Sting opportunities, and Science to Business for academic spin-offs, along with investment vehicles Propel Capital and Turbine Capital.

Product overview

Sting is Sweden's leading startup accelerator and incubator offering a comprehensive ecosystem of programs for tech and life sciences companies. The core offering consists of Sting Core, a unified flagship six-month program that replaced the previous Sting Incubate and Sting Accelerate. Supporting programs include Sting Climate Race for climate tech startups, Pre-Sting programs (Startup Academy, Open Coaching, Test Drive) for early-stage ventures, and Science to Business for academic spin-offs. Investment activities are handled through Propel Capital (founded 2014, 170+ companies) and Turbine Capital (DeepTech-focused VC fund). The ecosystem serves startups across Health, Climate, Society, and DeepTech focus areas.

Differentiator

Problem solved

Functional benefit

Products and services

• Sting Core Sting's flagship six-month accelerator program for ambitious tech founders, combining deep operational support with fast-paced growth acceleration. The program offers tailored coaching, investor readiness preparation, access to Sweden's startup network, and potential investment from Propel Capital.
• Sting Climate Race

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and supporting.

• Electrum FoundationcoreOthers · 1 March 2018Sting is a non-profit company owned by the Electrum Foundation, which is a collaboration between business, research, and the City of Stockholm. The foundation provides governance and strategic direction for Sting's operations.
• KTHcoreStrategic or Co-development PartnerKTH Royal Institute of Technology is one of Sting's main partners, providing research connections and academic partnership for the startup ecosystem.
• VinnovacoreStrategic or Co-development PartnerSweden's Innovation Agency is a main partner of Sting, providing funding and strategic support for startup development activities.
• City of StockholmcoreStrategic or Co-development PartnerThe City of Stockholm is a main partner, collaborating on innovation initiatives and supporting the Stockholm startup ecosystem.
• Region StockholmcoreStrategic or Co-development PartnerRegional government partner supporting Sting through EU funding (ERUF) for initiatives like Health Action to strengthen life science and healthtech companies.
• KI InnovationssupportingStrategic or Co-development PartnerCollaboration partner in the Health Action initiative, working with Sting to help Stockholm healthtech companies grow globally.
• Uppsala Innovation Centre (UIC)supportingStrategic or Co-development PartnerCollaboration partner in the Health Action initiative, part of the Stockholm-Uppsala region's life science innovation system.
• Rise EuropasupportingStrategic or Co-development PartnerSting is a member of Rise Europa, a partnership of leading European startup hubs spanning 13 countries, formed in 2023 in Elmau, Germany. The alliance aims to empower startup teams and elevate Europe's standing in the global tech arena.
• Swedish University Affiliated DeepTech IncubatorscoreStrategic or Co-development PartnerSix of Sweden's foremost university-affiliated DeepTech incubators back Turbine Capital, ensuring a strong flow of promising companies from academia to industry.

Scale indicators6 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Antler: Global early-stage accelerator with strong Nordic/European presence, running cohort programs and co-founder matching. Directly comparable to Sting in geography and founder-first model.
• Y Combinator: World's largest startup accelerator running fixed-cohort programs with seed investment and Demo Day showcases. Directly comparable to Sting Core's six-month model, with a vastly larger global applicant pool.
• Techstars: Global accelerator network with mentorship-driven cohort programs and Demo Days. Operates a similar accelerator-for-equity model to Sting, with sector-specific programs analogous to Sting Climate Race.
• Startupbootcamp: European-origin accelerator network running vertical-specific cohort programs (fintech, healthtech, etc.) with Demo Days and partner networks. Mirrors Sting's vertical-focused program structure.
• Rockstart: Amsterdam-based accelerator with sector-focused programs in energy, agri-food, and health. Comparable to Sting's Climate Race and Health Action initiatives as a European sector-specialist accelerator.
• Entrepreneurs First (EF): Talent-first accelerator investing in founders at the idea stage and providing co-founder matching. Comparable to Sting's Pre-Sting programs and Science to Business initiative in addressing pre-company founders.
• Founders Factory: Global accelerator and venture builder with corporate-backed programs and operator support. Comparable in combining corporate partnerships (akin to Sting's Scania/Saab/Stena LPs) with cohort-based acceleration.

Broad incumbents

• Speedinvest: European early-stage VC with sector-focused funds in fintech, deeptech, health, and climate. Operates adjacent to Sting's investment vehicles (Propel Capital, Turbine Capital) with broader AUM and a pure-VC model.

Regional players

• Chalmers Ventures: Swedish university-affiliated incubator and investor, co-investing in Sting ecosystem companies (e.g., Seaqure Labs). Comparable as a Nordic DeepTech/early-stage investor within the same ecosystem.
• KTH Innovation: KTH Royal Institute of Technology's in-house incubator and pre-seed program, a core Sting partner providing research-to-startup pipeline. Comparable as a Swedish university-affiliated DeepTech funnel feeding Sting's Science to Business program.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/stingsthlm
• Facebookfacebook.com/stingsthlm
• LinkedInlinkedin.com/company/108052

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments314 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sting