Last week, in line with an announcement made in September, Pär Hedberg stepped down as CEO of Sting. A foundational force in the Swedish startup ecosystem, Sting has seeded hundreds of alumni companies–including our friends at Beleco, imagi, and Panprices–since its inception in 2002.
I first subscribed to the Sting newsletter in 2016–two years before I moved to Sweden–but my favorite memory of Pär arrived just the other week. Here’s that story:
One of our members, Henrik Angelstig, recently started a newsletter blog called Startup Builder. After spending lots of time writing, this first-year master's student took a risk and sent the newsletter to community leaders like Pär.
Pär could have unsubscribed or done a dozen other things to diffuse Henrik’s entrepreneurial energy. Instead, he multiplied that energy by sending Henrik a quick note of encouragement. "Thanks for this, Henrik. Nicely done!"
Thanks Par, for all the work you’ve done to multiply creative, risk-taking talent over the years. We will miss you.
Founder Award
“Time is the friend of the wonderful business, the enemy of the mediocre.” — Warren Buffett
This week’s founder award goes to Stefan Jansson, founding CEO of Polarium. Polarium is one of seven Swedish unicorns–and one of the stars in Sweden's leading clean energy startup scene. Polarium has been profitable since 2019.
Until last week, the firm sold its smart batteries exclusively B2B. But on Wednesday, it launched Homevolt, a smart battery for consumers. Polarium doesn’t manufacture batteries–rather it develops tools that upgrade basic batteries into smart systems capable of harvesting, consuming, and selling energy at price-optimal times. Consumers in Sweden and Norway can pre-order Homevolt, which promises to lower home energy costs & generate additional household income by selling saved energy back to the grid.
Congratulations to Stefan and to SFC member Johannes Löfgren on the big announcement. And congrats to Norwegian renewable energy startup Tibber, who is launching Homevolt in partnership with Polarium.
Events
📍NORRSKEN | Lunch & Learn: Setting up a Marketing Strategy | 8 June – https://www.eventbrite.com/e/lunch-learn-set-up-a-marketing-strategy-in-an-ever-changing-landscape-tickets-642124269977
📍STING | STING DAY | 13 June – Invitation only
Submit corrections, feedback, or ideas for this update to me, Vincent Weir