The registration for the Hague Innovators Challenge is open! Startups, scale-ups and students can apply with their innovative ideas before October 17th. Which doors open when winning the Hague Innovators challenge? This blog is a short update by previous winner Fungalogic.
For Fungalogic, nature is the key to a sustainable construction sector and helps us make modern, circular and healthy buildings available to everyone. Fungalogic makes building materials from agricultural waste with the help of mold. This way, they turn waste into a valuable resource. In 2018, Fungalogic registered for the student prize of The Hague Innovators and then won € 10,000 to kick-start their idea.
At what stage was Fungalogic before participating in the Hague Innovators Challenge?
We were a student team that had been working together for a year to turn this idea into a real company, but we struggled to get started. Due to a lack of experience and knowledge of our specific technology, previous attempts had failed.
What happened after winning the challenge and what did you do with the prize money?
Winning the Hague Innovators Challenge gave us the confidence to continue. With the prize money we were able to move from an attic room in a vacant property to a real office. This proved to be an important step in the development of our company. We took ourselves more seriously and that is why others did too. This resulted in a first pilot project. We have also invested in material research and improving our technology.
It is about a year after winning the challenge. How is Fungalogic doing now?
We have now built up a portfolio of pilot projects in which we always work together with potential partners and customers. This appears to be a very fruitful approach to involving potential first customers and to enthuse them about the development of your product. We are currently at the start of a new, exciting phase in which we have to attract investments, expand the team, and establish partnerships for a longer period of time. It’s really for real now!
The Hague Innovators Challenge 2020
Do you also have an innovative idea, product of service that can improve the world? Then sign up for the The Hague Innovators Challenge 2020. This year you have a chance to win between € 2,500 and € 25,000. You can register until 17 October. Click here for more information.