The business accelerator STING has started a new program targeted specifically toward Internet companies. With the new program, STING works with internet startups to set clear goals, identify the success factors for their businesses, and teaches them how to speed up their business development. Peo Nilsson, co-founder of Booli, and Ludvig Linge, co-founder of TAT, are both coaching the startups.
The key is speed. We believe in “Fail fast, fail forward” – dare to try things that do not work perfectly: make a prototype, measure usage and compare to quickly find the products and business models that work, says Ludvig Linge, business coach in Internet/media at STING.
A total of 16 Internet companies will be selected for the first two batches of STING Fast Forward. For 20 weeks, they will, for example, set clear weekly goals and activity plans, test their products and services on customers, and fine tune their business models.
Peo Nilsson and Ludvig Linge run the program along with two other coaches from STING, Ivar Strömberg and Raoul Stubbe. All four coaches have strong entrepreneurial backgrounds in Swedish IT, Media and Telecom.
FastForward companies have an intense 20-week period ahead of them during which they will identify the factors and metrics that define and scale their internet businesses. More than half of the companies have revenue, and all have working prototypes or finished services. Now it’s all about tweaking business models and processes to grow faster, says Peo Nilsson, Business Coach at STING.
If you’re interested in applying to the next batch of FastForward, FFW_02, here’s how:
- Go to Angel List and create your profile. Apply to STING FastForward here.
- You can also fill in a Word document (same content as Angel List), which you can find here, and send it to email@example.com
- A number of startups will be selected to pitch in a “Pitch Final” event. It is a closed event where invited startups will meet the selection team, with no other audience present.
November 21 – Application deadline
December 11 – Final Pitch
January 29 – Start FFW_02