Each year the Swedish edition of the Venture Cup business competition selects the country’s most promising growth company. This year nearly 1,000 business concepts nationwide were in the running.
Two of the three companies nominated for the western region, LumenRadio and AdFreight, come from Chalmers Innovation – a grand slam for the Göteborg business incubator. LumenRadio walked away with first prize, with AdFreight coming in second in the prestigious competition for Sweden’s most promising growth company of the day.
“Chalmers Innovation is very proud of the teams behind LumenRadio and AdFreight,” says Olle Stenberg, CEO at Chalmers Innovation. “Winning both first and second prize this year shows once again that our incubator produces strong growth companies with great potential.”
LumenRadio develops and markets technology for wireless control of lighting. The first products were launched in April 2009.
“Winning the Swedish finals of the Venture Cup is an incredible affirmation, a stamp of quality that we can use when talking to customers and negotiating with light fixture manufacturers,” says Per Hulthén, president of LumenRadio. “We expect to gain a foothold in the market soon, even though we only launched our concept barely two months ago. Chalmers Innovation has been crucial in supporting LumenRadio in its lightning-fast market entry.”
Louise Öberg, president of AdFreight, agrees. AdFreight provides a new shipping solution for e-commerce on sites like eBay. “Second place in the Swedish finals of the Venture Cup is a stamp of quality for AdFreight, confirming that our solutions are well conceived and offer clear benefit to customers. We’re just getting ready to start our market launch, which makes it extra exciting to be named one of Sweden’s most promising growth companies.”
More about LumenRadio
LumenRadio is developing the next generation of wireless technology for the lighting industry. The company’s first product line for the OEM market was released in April 2009. LumenRadio’s products are more cost-effective than wire-based and competing wireless products, and feature unique solutions for scaleability and compatibility with other wireless technologies.
More about AdFreight
AdFreight delivers a new shipping solution for e-commerce on sites like eBay.
More about Chalmers Innovation
The company has offices at the Stena Center at Chalmers Johanneberg, and at the Lindholmen Science Park. Between its start in 1999 and the end of 2008, Chalmers Innovation started 89 companies, which generated a collective turnover of SEK 329 million in 2008. Altogether, more than one billion Swedish kronor, or 100 million euros, have been invested in these companies over the years. This makes Chalmers Innovation Sweden’s leading idea investor and business incubator today.