The business accelerator program STING FastForward is now seeking for its third batch of high-potential Internet/media startups. This round, the program has opened up for non-Swedish companies to apply.
– We have noticed a large interest in the FastForward program from non-Swedish startups already from the first application round, with many of them delivering a very high class, STING CEO Pär Hedberg explains.
Thanks to STINGs co-operation with real-estate group Einar Mattsson, the business accelerator has more great news for non-Swedes.
– Today when we are accepting companies from any part of the world to the program, we can also offer them housing accommodation, to self cost, for the program’s 4 months – in other words, a complete package. Hopefully we’ll see a blend of local and international entrepreneurs in this third batch, he continues.
The program is Scandinavia’s first, and only, accelerator program providing admitted companies with an exclusive package of funding and tailored business development support. We earlier wrote about STING’s new investment platform, established by a group of 20 successful Swedish business angels from the Internet/media sector. Each company admitted to the program will receive 250,000 SEK from these investors.
The program itself, will run in the very center of Stockholm, at the well-known co-working space SUP46, where the participating startups also will have free and shared office space throughout the program.
The investments are made through SPARK, the venture capital comes from over 20 reputable business angels who are coming together to invest in new Internet/media companies. The investment is a convertible note that can be repaid in three years with 6% interest or converted into equity when the startup can issue shares valued at at least 1 million SEK to new investors.
How To Apply
Head over to their website, and scroll down to the bottom and follow the instructions. Deadline is June 1, at midnight. Good luck!