news - FMO awards 5 impact startups with €125,000 development capital!

Last week, FMO and Rockstart organized the second edition of Finture Solutions, a competition to support Dutch startups and scale-ups that bring positive change in emerging markets across the world in the fields of AgriTech, Clean Energy, and Health. Since the COVID-19 pandemic prevented the organizations form hosting a live pitch event, it was decided to shift to a virtual live stream event that was attended by over 100 people on Thursday 18th June.

After an extensive selection process, considering 80 applications, the pitches of the top 10 startups, five winners were chosen: Almacena Platform, Oceans of Energy, ASOBO, AgriPlace, and Inuka Coaching. These five companies will receive €125,000 development capital and support from FMO experts to grow their business! 

Deciding on the five winners was not easy, but we have had great help from a jury panel consisting of: Femke Bos - Fund Manager at FMO, Brigit van Dijk - van de Reijt the CEO of Brabantse Ontwikkelings Maatschappij (BOM), Willem Nolens - Head of Operations and Finance at Rewilding Europe, Mirjam van Dijk supervisory board member of NLinBusiness, and last but not least Ronald de Jong – Chairman of the Philips Foundation.

All five finalists were chosen because they have come up with solutions that have the potential to create scalable impact and have smart business models. 

Almacena Platform is a trading platform for origin producers for products such as coffee and tea that creates traceability and transparency, shortens the supply chain, and bring more value and bargaining power to the farmers. 

Oceans of Energy has designed and made durable offshore floating solar systems that operate at sea at a cost that is lower than any non-renewable energy-producing technology. This technology allows for densely populated areas or islands with limited land space to have access to affordable clean energy.

ASOBO is creating a sustainable platform for e-mobility on the water in emerging markets. They provide electric outboard engines that are powered by renewable energy, and currently offered on a full-service basis to the fishermen on Lake Victoria, Kenya. This will allow the fishers to use clean energy, at a lower cost. 

AgriPlace helps farmers and farm groups to digitize the certification process and more easily obtain certification. The platform also streamlines the compliance process and manage compliance from farm to fork This will increase visibility for the farmers in emerging markets with the buyers in Europe and elsewhere. 

Inuka Coaching is a digital mental health App and platform that bridges the accessibility and affordability barriers to quality mental health wellness in Kenya. On the platform, a client can take a wellbeing assessment and is matched with a coach for sessions and practical solutions. 

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Finture Solutions is a collaborative effort by the NL Business activities of FMO and Rockstart, one of Europe's first startup accelerators. The initiative is partly enabled by the Ministry of Foreign Affairs of the Netherlands.