SEB’s „Company of the Future“ special award recognized a business idea that offers packaging material from recycled textile waste
SEB’s future company special award was given to Ajujaht team KIUD, which offers packaging material from recycled textile waste, replacing disposable corrugated cardboard in the packaging industry. The award is accompanied by a 5,000-euro bonus, which SEB handed over at Impact Day, the largest sustainability and impact festival in the Baltics.
“The purpose of the business idea, which was recognized with the special, is to reduce a very big problem in the world – textile waste and to replace disposable wood-based packaging with a new, environmentally friendly material. The result is a durable package whose production CO2 footprint is 50% smaller than that of a cardboard box, and no water or chemicals have been used in its production. The packaging can allegedly be reused up to 20 times, which significantly reduces the amount of waste related to disposable packaging,” said Allan Parik, Chairman of the Board of SEB Bank.
The evaluation criteria for the company of the future were divided into three areas: environmental and social impact and company culture. The jury chose the finalists from among the 9 Ajujaht teams that applied for the award at the presentations held at SEB Bank on October 4. The best business idea that met all the parameters of the company of the future was determined by the jury on October 6 on Impact Day.
Allan Parik, Chairman of the Management Board of SEB Bank, also recognized the other TOP 3 teams who think big and beyond their business goals and whose actions have a positive impact on the future. “The other selected finalists also have great potential to grow and expand their impact,” he explained.
TOP 3 teams applying for the SEB special award:
- KIUD – a company that offers durable and recycled textile waste packaging material, replacing disposable corrugated cardboard and veneer used in the packaging industry.
- Cara Health – a healthcare/technology startup focused on improving the health and well-being of mothers throughout pregnancy and childbirth. The company has created a new type of medical practice that combines preventive traditional medicine with complementary services.
- Raw Edge – a company, that produces a 100% natural vegetable and berry juice fermented with lactic acid bacteria, probiotics, and a low-calorie drink that does not contain caffeine, artificial additives, or added sugar. The drink contains naturally good bacteria that support the microflora of the stomach and thereby improve well-being, health, and athletic performance.