We won the Alhambra Venture Impact Award 2024. Here’s four things we learned.
Well hooray for us. We said we might win, and we did.
We worked pretty hard on our pitch, and it’s nice to report that this paid off.
This award we won, the Alhambra Venture Impact Award 2024, is for the start up with the most environmental and circularity impact potential out of 38 finalists and more than 1000 applicants.
More than 1000 people attended including 400 investors. We did a 3-minute video and speaking pitch to them all.
It was an excellent opportunity to engage with many investors about our business, face to face for the first time.
Local, regional and national government were in attendance, along with the patent office and various others.
Our CEO, Ignacio Gavilan was there, with the IB team, and we recorded a short podcast on what happened.
What did we learn about how these groups understand our business?
- There’s so far little understanding about how insects can bio convert waste and what the opportunities for a business are.
- Black Soldier Fly larvae as a key waste bio converter are fairly new, so there’s work to do in explaining how the process works, and the products and outcomes that ensue.
- Clarify and demystifying the business is key, we are a scale play and we had to make that clear, this is not a ‘garage’ business, but one aiming for five plants of 150,000sqm total by 2031.
- Investors were curious about scalability, funding, operation, and market potential, particularly when we pointed out that a 5% shift in feed market size towards insect protein, is resulting in an 86 billion dollar revenue opportunity.
Check out our podcast, and we’ll be following up with more our patent filing and Q2 test results (hint: they are extraordinary) very soon.