eeden wins a GEC Textile Future Innovation Champion Award
The GEC announces textile award winners
The Global Entrepreneurship Centre (GEC) has announced the winners of the GEC Textile Award 2022, a competition to identify innovation with transformative potential for a more sustainable textile world.
Netherlands-based company MycoTEX BV won first place in the competition, winning 200,000 euros. The company provides a manufacturing method that allows for custom-made clothing to be made from compostable mushroom roots called mycelium.
Belgium-based startup Resortecs (REcycling, SORting, TEChnologieS) came in second place and won 100,000 euros. While the German company Retraced came in third place and won 50,000 euros.
Additionally, the following five startups received a GEC Textile Future Innovation Champion Award: Eeden, Fairbrics, Kintra, Memi and Thullex. In total, 141 startups from 33 countries applied for the GEC Textile Award 2022.
Friedrich Barth, said in a statement: “We’re prioritising investments in sectors with a commitment to climate protection and a high potential to scale sustainably. Our expert jury scrutinised each of the entries on the basis of the criteria of sustainability, climate protection, circularity and business outlook.
“We were looking for enterprises that are progressing well after having overcome the initial obstacles. This is what sets us apart from other innovation hubs. 16 startups were short-listed for the final – and even the ones that didn’t win an award can apply to participate in one of the GEC’s future programs.”
Dr Marie Hurtgen, ventures & technology director at GEC, explained: “The GEC Scaling Factory offers sustainable enterprises a customized and hands-on program addressing their top priorities. It includes professional services, assets and a scaling infrastructure that facilitates growth and lasting impact.
“It also multiplies the startups’ operational capacity, giving them the resilience to emerge intact from the second Valley of Death – the phase when many startups with promising technologies or products fail. At the end of the program, the enterprises have professionalised businesses, a low-risk investment profile and are equipped for sustainable commercial success.”
by Andrea Byrne
Article by Fashion United