The annual report provides an overview of Stockholm Innovation & Growth's (StInG) operations in 2010, highlighting that they evaluated 150 cases and admitted 11 new companies, celebrated their 9th year of operations, and continue to support startups through financing, networking, recruitment assistance, and business development support to help companies grow internationally.

1. AnnuAl RepoRt 2010 foR Stockholm InnovAtIon & GRowth

2. our vision is
alive and kicking!
It is with mixed emotions I can conclude that this is our ninth year in four of our companies were listed among the 25 companies chosen
operations, and that next year we’re celebrating our 10-year anniversary. for the nordic cleantech open shortlist.
we started off in a small 10 square meter room where Joakim nilsson, Seven companies have left us during 2010 through our “take off”
my first co-worker, and I were seated alongside a too large desk with ceremony. the number of new StInG alumnis is lower than expected
even greater visions. the vision was to build a world-class support and this is due to the fact that we have had a few more companies
system for startups in kista. our name at the time was kista Innovation that have failed to reach their goals than previous years (3 companies
& Growth, kIG. during 2010). the main reasons for the failures have been team re-
our vision has evolved over the years. our current vision is to lated, which proves that the team and the team members’ motivation
support the building of new global growth companies by attracting the is absolutely essential in order to be successful. this is also something
best innovators and entrepreneurs, offering them world-class business we will call attention to even further going forward.
development support and networks.
So how do we do it? well, we’re probably not the only ones who 81% survival rate
should answer that question, but let me provide some information and Since the start in 2002, we’ve accepted 80 companies into our incuba-
observations from 2010 that proves that our vision is very much alive tor of which 65 are still making progress and growing continuously. this
and kicking. implies a survival rate of 81%. these companies attracted more than
During 2010 we evaluated around 150 cases and admitted 11 euR 27 million from private sources and another euR 11 million in
new companies into our incubator. we welcome you to the StInG- public sources during 2010. the accumulated enterprise value, based
family! we will do our outmost to help you succeed and become inter- on the valuation at the last investment round in the companies, is euR
national growth companies. the newly accepted StInG-companies 190 million. Altogether, the companies have close to 500 employees.
come from a variety of fields, and work in completely different do- our business angel network, StInG Business Angels, has been
mains including music software, online services, telemedicine and very active during 2010 and it was even an “all time high year” in
energy technology. we can also conclude that the trend from 2009, terms of invested amount from the business angels in StInG compa-
with a strong inflow from the cleantech sector, has continued during nies. In total, initial investments were made in five companies and six
2010. the thesis that we have some of the most promising cleantech companies received follow-on funding for an aggregated amount of
companies in the nordic region in our portfolio was confirmed when around euR 1.5 million.
2

3. In regard to StInG capital - our venture capital fund - we can StInG’s most important message to all StInG companies is to
conclude that we are Sweden’s most active early stage private ven- “Go Global”. this, bearing in mind that Sweden is a very small mar-
ture capital fund (by number of portfolio companies). StInG capital ket. If Swedish companies are to become large enough to survive in
has so far invested approximately euR 6.5 million in 25 companies the long run, they have to grow internationally fast. If not, there is a
(of which 24 are alive). these companies have also attracted another risk that someone else will win the race. many of our companies have
euR 23 million from other private investors and euR 18 million in realised this and is already from the start focussing on large markets.
public financing. this is a result we’re very proud of! this message also comes out in clear figures in that approximately
75 % of the StInG companies´ turnover comes from export sales.
Search for talents the cleantech company midsummer has, for example, already
But attracting funding to our companies is not enough. Another just as been established in china. It is an interesting observation that many
important, or maybe even more important, task is to ensure that there StInG companies have an easier task finding customers who are
is a dynamic team in place for the companies to be able to succeed. interested in their offering in Asia, instead of in europe. Another inter-
this is the reason why we have our own in-house recruitment service, esting example is the internet security company, Yubico, who has ex-
StInG Search for talents, which can help our companies to find and panded to the u.S. and the media technology company, videoplaza,
attract new team members. our candidate database contains almost who has established themselves in a number of european countries.
700 potential entrepreneurs and possible team members that all want It is truly amazing to witness how companies usually grow much fast-
to work for StInG companies. we have also been involved in close to er if they expand internationally even at an early stage. our message
40 recruitments so far. is therefore clear; Go for it - Go Global!
Behind all these figures lie many hours of hard work, from the As a result of this, we at StInG will therefore focus even more
fantastic StInG team, but foremost from the amazing companies on developing our support for the companies’ internationalisation.
that we have the privilege to work with. I am truly impressed with the one part of this process is to partner with the european Institute of
commitment and endurance within the companies. As an example, technology in order to expand our network with valuable contacts in
we started to work with Brainglass (formerly vocab) in 2003 and europe. we will, furthermore, continue with our work of establishing
their journey has been full of challenges. But with an entrepreneur relationships with international investors. In this annual report, you
like niss Jonas carlsson, who has shown that nothing is impossible, will find more detailed information about StInG and our companies.
Brainglass raised almost euR 2 million from primarily international we hope you find the report interesting!
investors in December 2010. It is certainly an achievement to attract
that amount of competent capital to develop a fantastic idea after an
extended period of limited resources. we bow our heads for entre-
preneurs like that!
Pär Hedberg, ceo and founder
»STING’s most important message to all
STING companies is to ‘Go Global’«
3

4. A world class
eco system for
innovative startups
StInG is a world class eco system for innovative start-
ups based in the dynamic Stockholm region in Sweden.
the eco system encompasses comprehensive business
development support, own financing sources and
access to StInG´s broad network – all interacting with
each other in the development to faster build Sweden’s
new international growth companies.
ComPreHenSive buSineSS develoPment SuPPort
By hand-picked business coaches with solid experience in building and leading
international technology companies. companies admitted to StInG are assigned
a personal business coach, who provides support at least a half day per week, to
help the team achieving breakthroughs and its goals on time.
Sting CaPital
one of very few venture capital funds in Sweden that invests in companies at the
earliest stages of development.
Sting buSineSS angelS
A network of about 30 selectively invited private investors, the majority with back-
ground as successful technology entrepreneurs. the investors contribute with
both capital and their extensive experience.
Sting SearCH for talentS
An in-house recruitment service supporting our startups to build winning teams.
we assist our companies in finding and attracting talented individuals to comple-
ment their teams and boards.
Sting´S network
through StInG our startups get access to a broad national and international net-
work, to e.g. customers, partners and investors, in order to facilitate faster growth.
4

5. Early stage venture
capital fund
STING Business Angel STING Search for Talents
Network of experienced In-house recruitment service
private investors
Network Business development support
To e.g. customers, partners Highly qualified support by
and investors experienced business coaches
5

6. ”STING functions as a
large community of know­
ledge and experience.
Being able to take part
in that exchange of experi­
ences and knowledge has
been tremendously impor­
tant to me. Furthermore,
the STING network has
been most valuable.”
Magnus Norberg, Tomologic AB
6

7. StInG – for faster growth
viSion miSSion foCuS
StInG’s vision is to support the build- StInG’s mission is to actively support the we work primarily with innovative start-
ing of new global growth companies by formation and growth of 12 new technol- ups within Ict, Internet/media, medtech
attracting the best innovators and entre- ogy export companies in Stockholm each and cleantech - supporting entrepre-
preneurs, offering them world-class busi- year. these companies should have good neurs and innovators from academia,
ness development support and networks. prospects for long-term survival and a research institutes and the business
good chance of having 15-30 employees sector.
and international export sales within five
years of leaving StInG.
faCtS
OrGaNIzaTION HISTOrY
StInG is owned by the electrum foundation. the foundation is backed kista Innovation and Growth (kIG) started in kista in the spring of
by the city of Stockholm, ericsson, the Royal Institute of technology 2002. the purpose was to create more growth companies in kista
(kth) and ABB, as well as research institutes, industry and real estate Science city through an extensive support system. In January
owners in kista. StInG is partly financed by public funding from the 2005, kIG started a cooperation with kth regarding the launch
electrum foundation, Innovationsbron, and partly by private partners and running of an incubator at kth´s main campus in central
and self-generated financing. our main partners are Innovationsbron Stockholm. with that, kIG became StInG (Stockholm Innovation
and kth. and Growth.) StInG was founded by pär hedberg who was previ-
ously ceo for a number of technology companies with 50-300
OFFIceS employees. Since then, pär has carefully hand-picked employees
StInG is based in kista Science city – in the middle of one of the to ensure that all business coaches have solid experience from
world´s premier Ict clusters. we also offer offices at kth´s main building up and leading international growth companies.
campus in central Stockholm.
7

8. financing
StInG helps its companies to obtain optimized financing. usually, the first step is to apply for
funds from various public financiers. we also encourage and support our companies in obtaining
customer or supplier financing to fund the development of their first product. once this has been
achieved, it is usually time for venture capital in various forms. we have a wealth of experience in
how to go about this process, and have close relationships with the Scandinavian and european
venture capital communities. many of our companies have received investments from leading
players. we also have our own financing resources, described below.
– a uNIque veNTure capITal FuNd – THe aNGel INveSTOr NeTwOrk
StInG capital is one of few venture capital funds in Sweden that StInG Business Angels is a network consisting of 33 individuals,
invests at the earliest stages of development – even before there is selectively invited to the network, based on their experience as
a finished product or paying customers. StInG capital is a com- proven entrepreneurs. the network is dedicated to invest exclusively
mercial venture capital fund that takes big risks and expects high in StInG companies and its members contribute with both capital
returns, and is often the first external investor in a company. StInG and extensive experience to the businesses they invest in. to date,
capital has a broad investor base consisting of private investors, members of the network have invested in 20 companies (represent-
such as business angels and family institutions, as well as public ing a total investment of euR 6,3 million in direct investments in
organizations. the majority of StInG capital’s investors are from StInG companies and in StInG capital).
the private sector. read more: www.stingcapital.com
Other
8%
Medtech 21%
Accumulated
6.3 20 33
Internet/
media 17%
invested amount:
6.5 meuR MEUR The number of
companies STING
No. of
business angels
(approx) Business angels with entrepreneur­
Cleantech 37%
no. of companies The accumulated have made direct ial background
ICT 17% invested in: invested amount investments into.
25 (of which incl. investments
one has been in STING capital.
liquidated)
All amounts have been recalculated from Sek to euR by using annual aggregate exchange rates from
Riksbanken, Sweden’s central bank.
8

9. Erik Odén, Mantex Camilla Wirseen and
Anders Wilhelmson, Peepoople AB
mantex has devel- peepoople was created
oped a pioneering to develop, produce
method for rapid and distribute the
and non-contact peepoo (pat.pend)
measurement of sanitation solution. the
moisture content mission of peepoople
and other important is to provide universal
characteristics of access to dignified and
organic materials. hygienic sanitation.
www.mantex.se www.peepoople.com
9

10. StInG value creation
Requirements StInG’s offer centers around creating a close relationship between
a company and its main business coach. the business coach will
support the company to accelerate the commercialization process
and achieve its objectives on schedule. Since the start in 2002,
the StInG concept is to work with a small number of
StInG has built up a bank of knowledge, experience and materi-
selected projects/companies, providing them with world-
als in different areas that are critical to the success of early-stage
class support. As such, our selection process is rigorous.
technology companies, what we call the “StInG toolkit”. StInG
the following criteria must be met before a company is
provides support and services within all areas relevant to young
admitted to our business incubator:
companies embarking on the road to becoming successful growth
companies:
• Business idea based on an innovation with
obvious value for the customer • Business development
• A large and growing international market • Internationalization strategy
• Good possibility to package the innovation • Attracting optimal financing: Soft money, cus-
into a scalable product tomer/supplier, business angels, Sting capital,
• Strong entrepreneurial team or willingness other venture capital firms, etc.
to develop an excellent team • team development and recruitment through our
in-house recruitment service, StInG Search for
SeleCtion ProCeSS talents
StInG assesses around 150 projects/companies per year,
mainly within Ict, Internet/media, medtech and cleantech. • technical coaching and IpR strategy
out of a tough selection process only 8 percent of screened
projects are accepted each year. Admission to the incuba-
• Industrialization of products
tor is continuous. our evaluation process is extensive and
includes (among other things) a technical due diligence,
• expert network
gathering references from customers and assessment of
the team. we do this in order to try to verify the project’s
• Development of a Board of Directors
potential, but also with the aim of understanding if StInG is
• Sales development and training
the partner best suited for the company’s specific needs. of
course, all our work is confidential.
• exposure and credibility
• office and infrastructure
10

11. Maria Nilsson,
Manager STING
Business Angels
StInG Search
& STING Search
for Talents
for talents
– in-house recruitment service
the ability to build a winning team is a key factor in creating a
successful company. with this in mind, StInG aims to help its
companies find and attract talented individuals and to support them
in defining a common vision and company culture going forward.
StInG companies receive support right throughout the entire recruit-
ment process via StInG Search for talents:
ProCeSS management
Access to StInG’s e-recruitment system to help facilitate and profes-
sionalize the recruitment process. Recruitment toolkit: checklists,
guidelines and templates for ads and competence profiles, for example.
SearCH
Access to StInG’s network, own candidate database and web-based
search channels. At present this database contains the names of ap-
proximately 700 skilled and experienced individuals.
SeleCtion
tools for cv screening. Support in the interview process. formats for
tests and cases.
Hiring
Sample employment agreements, incentive structures, etc.
faCtS
Sting Search for talents has to date been involved in 40+
recruitments in 25 StInG companies. our candidate data-
base now contains the names of close to 700 skilled and
experienced individuals.
11

12. facts and figures
ACC PUBLIC VS PRIVATE FINANCING, MEUR COMPANY VALUE AND FINANCING, MEUR NUM
ACC PUBLIC VS PRIVATE FINANCING, MEUR COMPANY VALUE AND FINANCING, MEUR NUMB
100 200 500
100 200 500
90 450
90 175 450
175
80 400
80 400
150
70 150 350
70 350
125
60 125 300
60 300
50 100 250
50 100 250
40 200
40 75 200
75
30 150
30 150
50
20 50 100
20 100
25 50
10 25 50
10
0 0 0
0 0 0 2002
2002 2003 2004 2005 2006 2007 2008 2009 2010 2009 2010
2002 2003 2004 2005 2006 2007 2008 2009 2010 2009 2010 2002
Private investments Private investments * Total value of all STING
Private investments Private investments N
Public investments & financing Public investments & financing *companies, of all STING
Total value based on
Public investments & financing Public investments & financing companies, based on
value at latest investment N
Company value* value at latest investment
in each company.
Company value* in each company.
TURNOVER, MEUR OVERALL DEVELOPMENT
TURNOVER, MEUR OVERALL DEVELOPMENT
30 80
30 80
70
25 70
25
60
60
20
20 50
50
15 40
15 40
30
10 30
10
20
20
5
5 10
10
0 0
0 2002 2003 2004 2005 2006 2007 2008 2009 2010 0 2002 2003 2004 2005 2006 2007 2008 2009 2010
2002 2003 2004 2005 2006 2007 2008 2009 2010 2002 2003 2004 2005 2006 2007 2008 2009 2010
Turnover Active companies Living dead / changed idea
Turnover Active companies Living dead / changed idea
Export turnover Mergers / acquisitions Discontinued
Export turnover Mergers / acquisitions Discontinued
12

13. NUMBER OF COMPANIES AND EMPLOYEES
500
450
cost per employee
400
350
300
18 375 EUR
250 accumulated public funding of the incubator
operation in relation to the total no. of employees
200
in all STING companies
150
100
50
DEALFLOW / ADMITTED COMPANIES
0
2002 2003 2004 2005 2006 2007 2008 2009 2010
Number of admitted companies
STING DEALFLOW / ADMITTED COMPANIES
on Number of employees in active companies
stment ADMITTED COMPANIES: 80
EVALUATED COMPANIES: 1031
University/research based: 41 % Medtech 18 %
Business Community: 59 % Cleantech 22 %
Other ADMITTED COMPANIES: 80
8% Medtech 21% ICT 35 %
2 1%
r6%
Internet/ Othe edia Internet/
t/M
University/research based: 41 %
media 17% Interne Media 25 %
%
Business Community: 59 % 35 %
Cleantech 37% ICT 20
ch
%
ICT 17% te
18
e an
Cl
h
t ec
ed
M
All amounts have been recalculated from Sek to
010 euR by using annual aggregate exchange rates
from Riksbanken, Sweden’s central bank.
anged idea
13

14. “STING has guided us in how to access our market and has thereby had a major
impact on our development. Through STING, we have had the opportunity to
connect with a network of highly qualified individuals.”
Dennis Korkchi and Tommy Jonsson, Bloo AB
14

15. the StInG companies
■ Ict ■ InteRnet/meDIA ■ meDtech ■ cleAntech ■ otheR fInAncInG StInG cApItAl
PolySCorP SyStem has developed a system aCumem´S product threadSpotter helps
in buSineSS inCubator for manufacturing of creative solutions for the pinpoint and eliminate performance issues by
media and packaging segment. analyzing memory bandwidth and latency, data
www.polyscorp.se ■ locality, and thread communications/interaction.
CHundSell mediCalS is developing a diagnos- Acumem was acquired by Rogue wave in
tic test, pcpt (prostate cancer prediction test), SeeC solves heating and cooling needs of 2010.
that gives the possibility to decide and deliver properties. Seec´s patented and unique energy www.roguewave.com ■
treatment of prostate cancer at early stage system reduces energy consumption up to
tailored to the pathology of the tumour. 80 %. bioServo teCHnologieS develops muscle-
■ www.seec.se ■ amplification systems. Its first product is a glove
that strengthens the grip. the glove gives the
doremir’S program Scorecleaner makes it SuPPortknaPPen offers private and business elderly their hand-strength back, lets younger
possible to automatically generate a useful customers technical on-demand It-support for people work for longer, and craftsmen lift
score simply by playing a piece of music. all systems, solutions and configurations on the heavier loads.
■ market, all under the same roof. www.bioservo.com ■
www.supportknappen.se ■
enCare offers products to improve care for sur- bloo is developing a platform with a new
gery patients. encare’s products can reduce the SwediSH aerogel develops and manufactures positioning method that makes it possible for
number of complications by half and recovery unique, environmentally friendly and recyclable mobile clients located close to one another to
time by an average of three days. aerogelmaterial for a range of industrial communicate. Bloo’s first product is a mobile
www.encaregroup.com ■ applications. dating service.
■ www.bloo.se ■
Hination offers portable energy from a com-
bined light source and charger that runs on telCred develops next generation physical brainglaSS represents fun, interesting and
100% solar power. hination’s solar cell lamp Access control Systems (pAcS) based on nfc. motivational learning experiences supported
features include bright light, efficient charging, telcred’s patented technology enables remote by intelligent, efficient and effective learning
and a robust, user-friendly design. distribution of access rights to mobile phones processes. All made available cross-platform,
www.hination.se ■ or other types of devices. including mobile devices and social media.
www.telcred.com ■ www.brainglass.com ■
idoC24 provides a mobile medical information
service aimed at providing 24-hour medical virtuell media runs social internet sites in brigHter develops and commercializes a
advice on mobile devices – whenever and the niche of home construction industry to its patented all-in-one solution for insulin injecting
wherever you need it. customers, providing unique web-based 2D/3D diabetics. the first Brighter product is an easy
www.iDoc24.se ■ ■ drawing tools. to use, portable, and discreet solution that
www.virtuellmedia.se ■ improves life quality for diabetics and targets a
orexPlore develops portable, easy-to-use gigantic and steadily growing global market.
equipment for analyzing the composition of www.brightercompany.com ■
non-organic materials, primarily minerals.
www.orexplore.com ■ byteaCtive is a cloud storage company that
alumni ComPanieS has designed a technique for backing-up and
PluriCaSt addresses the increasingly urgent storing digital information that both reduces
capacity issue of wireless networks. By using antrad mediCal offers its customers (blood storage volumes and optimizes bandwidth,
pluricast algorithms, the efficiency of new or banks around the world) the possibility to thaw while improving efficiency and security for its
already installed network equipment can be blood plasma in just five minutes, a procedure users.
greatly improved. So will the user experience. that normally takes 20-40 minutes. www.byteactive.com ■
www.pluricast.com ■ www.antrad.se ■
»
15

16. “STING has helped us increase our business “STING has given us an invaluable credibility
network and we regard STING as imperative in the dialogue with investors and partners.
for our development.” Being a STING company is by definition a
Peder Eneroth, FlexiClean AB sign of quality.”
Kurt Högnelid and Lars Ekemar, Antrad AB
16

17. byteSHield’S unique approach to DRm ePiQ life Science develops solutions for the livSluft develops one of the world’s smallest
and copy protection provides users with a diagnosis and treatment of atrial fibrillation, and most intelligent products for eliminating
transparent, safe and un-intrusive solution and coronary disease, that reduce examination sleep apnea. the product greatly improves the
while giving pc game and pc applications time, cut costs, and improve the quality of care. quality of life of people who suffer from severe
developers, publishers and distributors flexible www.epiq.se ■ snoring problems.
licensing management with a high level of www.livsluft.se ■
protection. eviware´S software is the world’s most widely-
www.byteshield.net ■ used program for the design, development, mantex develops technology and products that
and testing of web services: SoapuI. SoapuI optimize raw-material consumption through
CatHPrint offers a new technology for the de- enhances quality and cuts the cost of web accurate detection of true composition of
sign and manufacture of catheters that makes service projects by 20 percent. biomaterial, enabling more efficient industrial
it possible to produce more advanced catheters www.eviware.com ■ processes.
at a significantly lower cost. www.mantex.se ■
www.catheter.se ■ fileride is an Internet-based social-networking
service that links people with common inter- midSummer is developing new methods for
ComPumine offers the market’s easiest-to- ests. fileRide can also be used by organiza- manufacturing solar cells at radically reduced
use software for predictive analytics and data tions to make project work more efficient and costs.
mining. the software results in robust predic- improve information sharing. www.midsummer.se ■
tive performance and new insights into the www.fileride.com ■
customer’s own data with minor investment in moSynC provides a cross platform applica-
time and software. flexiClean is a new filter container for purify- tion that runs flawless on hundreds of mobile
www.compumine.com ■ ing stormwater. the product improves and phones and handhelds, proven to radically cut
simplifies the inspection and maintenance of development cost and time to market.
CortuS develops and commercializes new stormwater drains and can be adjusted to suit www.mosync.com ■
technologies for the gasification of biomass purification needs in any setting.
under the brand woodRoll ®. the process www.flexiclean.eu ■ muSifier’S software system, musifier virtual
results in synthesis of very high quality in a cost orchestra, gives producers of computer and
effective manner. frame aCCeSS improves competitiveness and video games the ability to improve the quality of
www.cortus.se ■ growth by transferring research findings made their products by including a continuous, adap-
by the world’s leading experts to the market via tive stream of music that changes to suit each
CuPtroniC develops a production process for network-on-chip and mixed Signal Radio. phase of the game.
manufacturing highly advanced circuit boards www.frameaccess.com ■ www.interamus.com ■
with a reduced environmental impact and for
significantly less than their competitors’ solu- the giPZ group has built one of the largest myfC develops high performance fuel cell
tions. fixed wireless broadband infrastructures in chargers and low cost fuel cell components
■ northern europe. future deployments of wire- for portable electronics from cell phones to
less broadband networks will also consist of laptops, efficiently extending battery life away
Cybergene develops and retails medtech mobile wimAX solutions. from the grid.
products for genetic diagnosis. cybergene’s www.gipz.no ■ www.myfc.se ■
products require significantly less resources
than current products and can shorten the time inview has developed ”ippi”, which sends and obSteCare is a provider of medical solutions
needed for diagnosis from weeks to just days. receives SmS and mmS messages and e-mail focussing on improving delivery care for both
www.cybergene.com ■ via an ordinary tv. Ippi is primarily used as a the mother and the healthcare provider. this
communications platform for the elderly and is done by supplying reliable services and
diamorPH develops advanced glass and those with physical disabilities. products, facilitating efficient care in maternity
ceramic material with unique characteristics. www.ippi.se ■ wards.
Diamorph products hold the world record for www.obstecare.com ■
hardness and have record-high refractive in- irnova develops and manufactures high per-
dexes, world-class magnetic properties, and an formance IR-detectors for detection of objects oCuluSai designs techniques and systems that
extremely high degree of thermal stability. in total darkness. the company has customers provide advanced image analysis in real time.
www.diamorph.com ■ all over the world. the company grew out of research conducted at
www.ir-nova.se ■ the Swedish Royal Institute of technology (kth).
www.oculusai.com ■ »
■ Ict ■ InteRnet/meDIA ■ meDtech ■ cleAntech ■ otheR fInAncInG StInG cApItAl
17

18. “STING’s incredible network of investors has “Our team is our greatest asset and thanks to
been invaluable in our process of attracting STING, we have been able to grow our team
capital. Furthermore, STING’s track record and from three to six team members. STING’s
extensive network of contacts has facilitated knowledgeable and competent business coaches
the recruitment of key individuals.” have been indispensable in our development.”
Siamak Ayani and Babak Rasolzadeh, OculusAI AB Truls Sjöstedt, Brighter AB (also in the picture (from the left) Nadezda Ershova
and Daniela Hamann)
18

19. oPtiCaller Software develops software for rePliSauruS teCHnologieS. Designed for tranSiC designs and manufactures power
mobile pBX and unified communications. It the electronics and semi-conductor industry, transistors in silicon carbide. the technology
allows the user to make calls in a flexible, and Replisaurus technologies’ production technol- creates compact, temperature-resistant control
above all, more cost-effective manner. ogy allows for increased precision, a simplified systems for electric motors in hybrid cars, wind
www.opticaller.se ■ production chain, and savings of around 50 power stations, and more.
percent compared with current methods. www.transic.com ■ ■
PeerialiSm peerialism develops global file www.replisaurus.com ■
storage and video streaming technologies that videoPlaZa develops an online video-based
scale with the explosive data growth on the Safemind develops safety products that save advertising system for new, interactive advertis-
internet and in corporate networks. lives. Its products can prevent drowning acci- ing formats that make the best use of the
www.peerialism.se ■ dents and locate individuals using radio, sensor, opportunities offered by web tv.
and positioning technologies. (the company’s www.videoplaza.com ■
PHoxtal CommuniCationS creates integrated focus has changed since it began operations.)
optical components for fiber-to-the-home net- www.safemind.se ■ wuSSaP takes online interaction to a new level,
works. the company was founded in 2002 by offering a “social surfing” service that allows
researchers from the Swedish Royal Institute of SCint-x develops and provides cutting edge users to surf together (in a surf train) and/or
technology (kth) and experienced entrepre- scintillator components that enable digital x-ray interact with others visiting the same site.
neurs. ■ detection systems with unprecedented levels of www.wussap.com ■
resolution and contrast.
PlagaZi develops a new method for extract- www.scint-x.com ■ yubiCo provides a new technique for quick,
ing biofuel from waste materials. the method easy, and secure log-in to websites and net-
provides industry with more efficient energy SCiroCCo develops and sells RfID systems for works. using a uSB key and open protocols for
recovery and can also create hydrogen gas for demanding applications within parking/access, identification, the same identity can be used to
fuel cell-based transportation systems. transport logistics, and factory automation. access an unlimited number of online services.
www.plagazi.com ■ Scirocco is listed with the equities market place www.yubico.com ■
in Sweden. www.scirocco.se ■
PlaSmatrix’S vibration-dampening surface Zebor teCHnology has designed a multimedia
coatings have been developed primarily for use SenSegraPHiCS provides software for develop- platform that starts up in less than a second
in mechanical industries. they provide enhanced ing multi-sensory and haptic applications. and radically reduces power consumption.
precision and a better surface finish, as well as www.sensegraphics.com ■ ■ www.zebor.com ■
longer product life and lower production costs. ■
SolaruS manufactures the next generation
PredeCt offers a solution that provides real- cost-effective solar power technology for
time monitoring of the quality of drinking water, large-scale users. Solarus’ solar panelsolutions
table water, and water used in food products generate either electricity, heat, or both (hybrid
and pharmaceuticals. solar collector). www.solarus.se ■
additional Portfolio
www.predect.se ■ ComPanieS Sting CaPital
SymCel develops a new generation of scientific
Quakelook provides microtremor analysis instruments to make faster analysis possible for StInG capital has also invested in two com-
services that give customers information about the life science industry. Its product reduces panies that have not gone through StInG´s
a mountain’s stability and make rock mass project time by allowing key prioritizations early incubator:
evaluation possible. Quakelook’s services are on in the process. www.symcel.se ■ ■
useful in both the mining industry and oil movinto fun develops innovative products that
production. ■ Syntune supplies state-of-the-art widely tun- make people move. the company has spun
able lasers for applications ranging from fiber- off from several years of unique research that
radio innovation’S antenna, mast, and base optic communications to sensor systems. the merges movement and dance with interaction
station design can reduce the cost for coverage company has been acquired by Ignis ASA. design.
and capacity for mobile operators by 80-95 www.ignis.com ■ www.movintofun.com ■
percent. www.radioinnovation.se ■
tomologiC develops an online service to PeePooPle was created to develop, produce
reHaCt has developed a unique system to provide the manufacturing industry with and distribute the peepoo (pat.pend) sanitation
provide a building with low tempered heating, significantly better cutting plans for sheet metal solution. the mission of peepoople is to provide
cooling and ventilation, reducing the need for cutting than those used today, which waste up universal access to dignified and hygienic
external energy by up to 85 percent. to 30 to 40 percent of the material. sanitation.
www.rehact.com ■ www.tomologic.se ■ www.peepoople.com ■
■ Ict ■ InteRnet/meDIA ■ meDtech ■ cleAntech ■ otheR fInAncInG StInG cApItAl
19

20. “Our company made an enormous progress during “at the start we faced all the challenges that a start­
our time with STING. we secured Sek 5 million in up can experience – in fields ranging from recruitment
venture capital, grew from three to 11 employees and through to financing and technological development.
from three customers in Sweden to 16 in five different STING’s business coach was very important to our
countries. STING also provided really valuable support development by being an inspiring and supportive
in developing our sales process.” sounding board throughout our journey.”
Sorosh Tavakoli, Videoplaza Stina Ehrensvärd, CEO Yubico
20

21. Selected StInG stories
“partnership with Rwe – “has attracted over Sek 170 “Serves almost a million users
Germany´s largest energy producer” million in funding” in 85 countries
mantex has developed a pioneering midsummer has developed the world’s Yubico provides a new method for quick,
method for rapid and non-contact meas- most cost efficient production process for easy and secure login to websites and net-
urement of moisture content and other large scale production of thin film solar works. using a uSB key and open protocols
important characteristics of organic materi- cells. midsummer is currently ramping up for identification, the same identity can be
als. German power giant Rwe became a production in its factory in Järfälla, Sweden. used to access an unlimited number of
co-owner of mantex in 2009 – its first ever midsummer sales passed Sek 10 million in online services. the company is currently
investment in a Swedish company. During 2010, and the order back log today is close collaborating with big names like Google and
2010, mantex successfully delivered meas- to Sek 100 million. midsummer has at- Symantec and has expanded enormously
urement scanners for customer production tracted over Sek 170 million in funding from since its first product launch in may 2008.
use and secured more than 20 million Sek private and public sources. Yubico currently serves approximately
for continued expansion. Since 2008 the www.midsummer.se 10,000 customers and almost a million users
organisation has grown from four found- in 85 countries.
ers to over 20 employees, launched three www.yubico.com
commercial products, established sales
and delivery in the nordic region as well as
“constantly expanding its
in the uS. european customer base.”
www.mantex.se videoplaza is helping publishers monetise “has the capability to become
the new Ip delivered tv with video ad serving the de facto standard in the
technology. the company is constantly de- X-ray market”
veloping the product helping media owners
Scint-X scintillator technique enables its
“the most used web Service to monetise their video content regardless of
customers to enjoy unprecedented x-ray
where and how it’s consumed: syndicated
testware worldwide” on 3rd party sites, on emerging devices
image resolution. It is possible to get full ad-
eviware has created soapuI, the most used vantage and utilization of new, state-of-the-
and platforms. the system was launched in
web Service testware worldwide. with more art, detectors and to develop new important
march 2008 on kanal5.se, which became
than two and a half million downloads and and lucrative applications. whether working
Sweden’s first financially viable web tv chan-
eight hundred of thousand users, soapuI is in medical, industrial, scientific or security
nel that same month. videoplaza has attract-
the de facto standard for web Service test- x-ray, Scint-X technology has the capabil-
ed Sek 40 million in venture capital and is
ing. eviware increased its number of cus- ity to become the de facto standard in the
constantly expanding its european customer
tomers in 2010 with more than 1000 and X-ray market. During 2010 Scint-X has
base. clients are located across fifteen coun-
the company´s turnover grew 100%. eviware marketed the Scintillator products on the
tries and include tv4 and ekstrabladet (Dk),
also released loaduI in 2010 and after 6 international arena. Several X-ray detection
m6, Rtl Be, and myvideoRights. videoplaza
months this was the most downloaded load manufacturers from countries in europe
is now headquartered in london, keeping
test Software worldwide. and the uSA are testing the technology with
product development in Stockholm and have
www.eviware.com the aim to integrate the new Scintillators
offices in Berlin, paris and Barcelona. the
team has quickly grown to 35 into their products.
employees and plans to expand to www.scint-x.com
50 employees in the near future.
www.videoplaza.com
21

22. 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.
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 international growth companies.
martin gemvik JeSSiCa Stark olof berglund angela g. Strömberg magnuS reHn ivar Strömberg Pär Hedberg
Investment manager, marketing and communi- Business coach medtech Assistant Business coach cleantech Business coach Ict & ceo & Business coach Ict
StInG capital cations manager Internet/media
A thorough background in various positions within hhas during 20 years various positions within former co-founder/ceo of Background span- has worked with developing
the private equity industry. communications and worked in the pharma- administration and com- tagmaster. extensive expe- ning from startups to completely new technology
for example as Investment marketing; with both ceutical and medtech munication as assistant rience as a ceo, typically co-founder and ceo of companies since 1998.
manager and a number operationally and stra- industries. has worked within real estate, high worked with international tele1/Song networks with has conducted “rescue
of board positions in tegically focus. has for with startups, as well as technology, telecom and marketing & development. over 1,000 employees missions” for companies in
listed, as well as unlisted, example worked at kth major multinational corpo- game companies. most re- has also been on boards in four countries. has need and reconstructions,
companies. Investment and for the business plan rations. has been involved cently real estate assistant. of companies targeted for also for a period worked as well as building up com-
manager & partner StInG competition venture cup. in many product launches. Joined StInG in 2009. reconstruction. Business for a private equity firm. panies in other countries.
capital since 2007. Joined StInG in 2006. Business coach at StInG coach at StInG since Business coach at StInG StInG´s founder.
since 2008. 2007. since 2010.
22

23. board memberS PartnerS
ELECTRUM FOUNDATION MAIN PARTNERS
chairman:
ULF WAHLBERG vice president external
Industrial and public Relations, lm ericsson
STEN NORDIN mayor, city of Stockholm
JOHAN SANDELL, CEO IBm Svenska ab LOCATION PARTNER
HANS HENTzELL ceo, Swedish Ict Research
PETER GUDMUNDSON president of the Royal
Institute of technology (kth)
MARTIN THUNMAN ceo, Gazella consulting RESOURCE PROVIDERS
ANDERS NYLANDER
ceo, Atrium ljungberg Gruppen
LOVE EKENBERG
head of DSv, Stockholm university
OLLE zETTERBERG
ceo, Stockholm Business Region
MIKAEL ÖSTLING Dean, Royal Institute of
technology, School of Ict
co-opteD BoARD memBeRS:
ULLA HAMILTON vice mayor enterprise,
traffic and labour market
ANETTE SCHEIBE LORENTzI
ceo, electrum foundation & kista Science
city AB
PäR HEDBERG
ceo, Stockholm Innovation & Growth AB
BOARD MEMBERS, STOCKHOLM
INNOVATION & GROWTH AB
chairman:
OLLE zETTERBERG
ceo, Stockholm Business Region INDUSTRY & RESEARCH PARTNERS
ANETTE SCHEIBE LORENTzI ceo, electrum
foundation & kista Science city AB
LOVE EKENBERG
head of DSv, Stockholm university
PäR HEDBERG
ceo, Stockholm Innovation & Growth AB
STING’S ADVISORY BOARD
ROLF SKOGLUND
chairman; entrepreneur; previously ceo,
microsoft Sweden; It-executive ericsson; founder
Startup factory
Knowledge &
Innovation
ANNA SÖDERBLOM
Community
EIT ICT Labs
raoul Stubbe maria nilSSon ulf brandelS Board member SSe Business lab
Business coach Ict manager StInG Business Business coach MIKAEL HULT
Angels & StInG Search for Internet/media Innovationsbron Sverige AB
talents ENTREPRENUERIAL PARTNERS
MARIE WALL
Started proximion fiber has during fifteen years head of Ict Department, vinnova
optics in 1998 and as ceo various positions within worked with sales, for in-
and later cto participated communications and net- stance at a large american ERIC GIERTz
professor and Dean kth Business liaison
in building a vc financed work building in the private software company. has
export company. worked equity industry. prior expe- founded, bought and sold JOHN ELVESJÖ
earlier at the research rience includes five years companies. his experience entrepreneur, ceo and founder tobii technologies
institute AcReo on tasks at Industri kapital (today Ik also includes ceo roles and MIKAEL ÖSTLING
from Swedish industry. Investment partners). boardwork. Business coach professor, kth; head of Ict school kista
Business coach at StInG Joined StInG in 2008. at StInG since 2002.
MARTIN THUNMAN
since 2005. entrepreneur and founder of packetfront AB
KARL SWARTLING
Investor Growth capital
23

24. DeSIGn: pRovInS AB photoGRAphY: lInDA RomppAlA
www.stockholminnovation.com
WHERE IDEAS GO GLOBAL