This grant validates our innovative and groundbreaking approach to addressing global challenges in ESG data sourcing and collection but also marking another significant milestone in this journey.

“This is the second grant we have received, and this grant from Vinnova further proves that we are on the right path, truly working with a groundbreaking and innovative solution. The fact that the main competition still relies on manual extraction methods, either in-house or outsourced to low-income countries, clearly highlights the technical maturity level of the current ESG data market” said Christian Patay, CEO of Climate Tracker Initiative.

Swedish Incubators & Science Parks are administrating the grant and is mediated by Sting.

Background & Problem

ESG data (Sustainability data) is disclosed in unstructured formats (such as PDFs) and in non-standardized ways. Most data vendors, as well as companies managing larger volumes of ESG data in-house, still depend on manual extraction methods. This approach is not only error-prone but also costly, and it results in quickly outdated data.

With the Corporate Sustainability Reporting Directive (CSRD) now in force, the supply of ESG data will grow exponentially. Currently, approximately 11,000 companies globally report ESG data under regulation, but this figure is expected to rise to over 140,000 in the coming years. This underscores the urgent need for an automated, scalable solution for ESG data extraction.

Our Solution

We address these challenges by offering cutting-edge AI software that autonomously finds and extracts ESG data from global corporate reports. Our solution not only enhances raw data by adding meaningful categorization and data points, but also transforms it into understandable and contextual assessments. Additionally, we provide licensing options that deliver both raw data and enriched assessments via our platform, exported files, or APIs—thereby streamlining data access and utilization for our clients.

Utilizing The Vinnova Grant

The Vinnova grant will be used to conduct large-scale extractor testing and verify results, ensuring 100% accurate data extraction. We will also focus on refining the user interface to make it both simplified and powerful.

Eligibility for Grants

To qualify for grants like the Vinnova grant ”Innovationscheckar”, companies must meet the following criteria:

• SME Definition: The company must meet the EU’s definition of small and medium-sized enterprises (SMEs).
• Innovation Phase: The business should be in an innovation phase or planning to use the grant to initiate innovation development, enhancing the company’s value creation and competitiveness.
• Sustainability and Agenda 2030: Projects must include activities that promote sustainability and advance Agenda 2030 within the company’s processes, operations, and value creation.
• Contribution to Gender Equality: The company must support equal societal development, ensuring both women and men have equal influence over the business, including representation on the board and in management.

About 

Vinnova is Sweden’s innovation agency, fostering sustainable growth by funding research and innovation projects. As a government body, it supports collaborations between businesses, academia, and public organizations to tackle societal challenges. Each year, Vinnova invests approximately SEK 3.5 billion to drive systemic change and promote a sustainable, competitive society.

Sting is a dynamic community of entrepreneurs dedicated to supporting startups that address humanity’s most pressing challenges. With a focus on sectors such as Health, Climate, Society, and DeepTech, Sting offers tailored programs to accelerate business growth. Since its inception, Sting has been instrumental in scaling over 400 startups, fostering innovation and collaboration within the entrepreneurial ecosystem.