The company was chosen for its LIFE Waste2Protein project. The innovation uses organic residues from supermarkets as a resource to produce insect protein from black soldier flies. The production process is environmentally sound and follows the circular economy concept. Zero waste production is the goal. The team has already set up its first industrial insect factory and aims to expand globally.
Dealflow.eu - the EU’s official portal for thousands of EU innovations and start-ups - initially short-listed madebymade along with six other European Innovation Council-funded beneficiaries as one of Europe’s most innovative early-stage sustainability start-ups. All seven companies’ innovations are validated and ready to go to market.
At a private e-pitching event attended by more than 100 investors, the seven shortlisted companies introduced themselves with an eight-minute pitch. This was followed by a four-minute Q&A session. The start-ups were seeking to raise between €1 million and €5 million in capital.
A jury comprising three venture capital professionals subsequently declared madebymade one of the three winners.
The German company, set up in a garage in 2017, wins the ‘Best EU backed sustainability start-up – Dealflow’s Rising Star Award’ as well as €10 000 worth of support from the Dealflow.eu venture building team.
madebymade could also receive significant investment from those investors present. This injection of funding would help with the upscaling of their innovative and sustainable solution, leading to environmental and social benefits.
Kai Hempel, managing director of madebymade said: ‘We are the first LIFE project beneficiary to have ever been selected as a finalist in this prestigious competition. But to be a winner feels amazing. We are truly honoured.’
‘This is a perfect example of what the European Green Deal can achieve. It also showcases the LIFE programme’s capacity to drive innovation, helping companies bring their green products, technologies, services and processes to the market,’ added Angelo Salsi, Head of Department D ‘Natural resources, climate, sustainable blue economy and clean energy’ at the European Climate, Infrastructure and Environment Executive Agency (CINEA).
The long list of candidates included 91 EU beneficiaries with 10 coming from the LIFE programme.
Image: LIFE 18 ENV/DE/000011/Natalie Färber. All rights reserved. Licensed to the European Union under conditions.
- Publication date
- 25 May 2021