From ROSI, a French start-up offering innovative recycling solutions for solar panels to AlgaEnergy a Spanish biotech company specialised in microalgae-based agro-biological inputs that combat the effects of climate change, eight Social Innovation Tournament (SIT) alumni were showcased at the sixth edition of ChangeNOW, an international summit held in Paris from 25 to 27 May to present concrete climate change solutions.

At a session organised by the Institute, the eight SIT alumni pitched their impactful solutions to investors illustrating how innovative technological ventures  contribute to the circular economy and fighting the impact of climate change in very different areas:

• In fashion and textiles MycoTEX is creating garments using vegan textile produced from mycelium, a mushroom, and  Resortecs is making industrial scale textile recycling easier.
• In agriculture,  SoilSteam is treating soils with steam instead of toxic pesticides and Beetle ForTech has created a tracking and certification system for timber.
• SEADS has come up with solutions to collect and recycle plastic from rivers before they reach the sea
• Longtime® is guiding consumers towards more sustainable products.

Three of the SIT alumni (Resortecs, ROSI, AlgaEnergy) have already benefited from grants or equity investment from the European Innovation Council (EIC), an EIB-managed Horizon Europe programme to develop and expand breakthrough innovations. Twenty-two SIT alumni have benefited or are benefiting from EIC funding to date.

Change NOW was also the chance for three other SIT alumni (Wasser 3.0, Dream Waves by Wave out, and BeeoDiversity which is in line for an EIC equity investment) to present their innovative circular economy solutions.

ChangeNOW, supported by the EIB, brings together the most innovative solutions and impactful changemakers tackling our planet’s biggest challenges and builds bridges between the entrepreneurs, business leaders and policy-makers to accelerate change.

The Social Innovation Tournament is the flagship event of the EIB Institute. In 2023 the final event will be held in Stockholm (Sweden) to reward and sponsor European entrepreneurs whose primary purpose is to generate social, ethical or environmental impact.