Friday 26 June 2020

Start-up wins €50k cash injection for bubble wrap made of wool

Estonian GreenTech start-up Woola, has won a €50,000 (£45,2k) cash injection for its bubble wrap solution made from sheep’s wool.

The funding came as the firm won the annual competition organised by the European innovation organisation EIT InnoEnergy, which supports breakthrough ideas from small businesses.

Woola aims to decrease the production, consumption and landfill waste of environmentally harmful materials and bring more eco-friendly packaging to the market.

Anna-Liisa Palatu, Co-Founder of Woola said: "We are thrilled to have taken part in this competition and to have won support from EIT InnoEnergy, which not only provides financial investment but also supports us with business development through its network."

InnoEnergy Central Europe’s CEO, Jakub Miler, commented, “The economic recession triggered by Covid-19 has presented grave difficulties for small enterprises and start-ups.

"While many market channels and sources might slow down for small companies, with the backing of the European Institute of Innovation and Technology, we are able to continue our support of innovative entrepreneurs financially and with the know-how and valuable partnerships to help take their products and services to the next level.”