EQT Foundation’s Impact Pitch Competition Unveils Top 3 Winners in Seoul

The Grand Finale of the Impact Quest happened on September 14th, where the final five impact-focused startups were selected with breakthrough solutions and competed for a chance to win.

EQT Foundation is the philanthropic arm of EQT, a global investment firm with Nordic roots. The EQT Foundation is an impact-first investor and incubator supporting disruptive innovations. Founded by the EQT Partners, the EQT Foundation safeguards EQT’s values, pushes the frontiers of impact, and activates the entire EQT organization to give back to society in meaningful ways.

The Impact Quest pitch competition unfolded amidst the vibrant tapestry of Try Everything 2023, a grand global startup festival of unparalleled proportions. These impact-driven pitch contests stand as formidable pillars in championing the cause of impact entrepreneurship, their resonance echoing across diverse nations. They serve as the hallowed stage where visionary impact startups, imbued with innovative zeal, unfurl their distinct tapestries of transformation.

A quintet of startups emerged from a labyrinthine selection process, their ascendancy signifying them as the ideals of purpose-driven innovation. Their unwavering commitment to effecting positive change in the realms of Planet and Humanity painted them as formidable contenders, standing resolute and unwavering in the face of challenges.

In the weeks leading to the climactic Grand Finale, these startups embarked on a transformative journey under the wise guidance of luminaries in the field. Yeo Jung Moon, the astute Investor at IMM Investment Corp, lent his expertise, while Jeungbin Kim, the visionary founder of Superbin, illuminated their path. Taeyang Lee, the co-founder of Viva Republica (Toss) and a revered Growth Partner at Bass Investment, shared the wisdom garnered through his journey of growth and investment.

These mentoring sessions proved to be a crucible of knowledge, moulding the startups into polished gems. They imbibed invaluable insights on crafting compelling narratives for their groundbreaking solutions and mastered the art of captivating investors through their pitches.

The startups took centre stage as the curtains rose on the Grand Finale, unveiling their revolutionary business paradigms. They skillfully delineated the profound impact embedded within their solutions, weaving a narrative of transformation and hope. In an engaging symphony of intellect, they faced a barrage of questions during the riveting Q&A session, forging deeper connections with the discerning judges.

The jury, comprised of eminent impact investors entrenched in the Korean startup ecosystem, held the destiny of these startups in their discerning hands. Their collective wisdom and keen insight determine which star would shine bright in impact entrepreneurship.

They are as follows:

• Sangyeob Han, CEO and Managing Director of Sopoong
• Hyunjoo Je, Founder and Managing Partner of Envisioning Partners
• Duckjun Lee, Founder and CEO of D3 Jubilee Partners
• Johnny Choi, Chief Investment Officer and Executive Director of FuturePlay Inc.
• Sang Jung Suh, Managing Director at EQT Partners Korea Infrastructure
• Cilia Holmes Indahl, CEO EQT Foundation

Following a thorough selection process, the jury identified the following three startups as the top winners:

1st Place: Code of Nature is developing a practical solution for restoring forest disaster areas using their Moss Spore Culture Kit. Code of Nature has created a specialized nutrient kit that utilizes moss’s natural vitality to rejuvenate depleted soil. This method not only stands as a more eco-friendly and sustainable alternative to conventional heavy equipment and manual labour but also trims the costs and time necessary for restoration.

2nd Place: Greenish is developing a sperm-assisting lubricant that dramatically increases the probability of pregnancy through enhancement of sperm function. Historically, infertility research and treatments have been women-centric, but an equal majority of men are affected by infertility, one issue being declining sperm mobility. This company aims to provide a balanced solution by enhancing male reproductive health.

3rd Place: CNS INT is addressing the issue of climate warming by employing microalgae, a sustainable natural resource, to remove carbon dioxide effectively. Microalgae play a crucial role by capturing carbon dioxide from the atmosphere and generating oxygen through photosynthesis. CNS INT aligns with global trends as they utilize microalgae to decrease greenhouse gas emissions, contributing to establishing a green carbon circular economy system on our planet.

The first-place winner of the Impact Pitch Night won a direct investment of 100K EUR by EQT Foundation, alongside access to EQT Group’s expert support from its 1800 employees to support their development through EQT’s large network and extensive expertise. The second and third-place startups will be introduced to EQT Foundation’s Investment Team for further evaluation.

The impact pitch competitions aim to discover and support startups within that country’s impact ecosystem. These competitions have the goal of giving a platform to small-impact startups of breakthrough science in the areas of Planet and Humanity. EQT Foundation provides catalytic capital to help entrepreneurs and researchers bring breakthrough impact ideas from lab to market, combining the expertise of EQT with critical funding gaps.

The purpose of the EQT Foundation is to push the frontiers of impact through incubating the field of impact investing, supporting the development of benchmarks for the market to more effectively allocate capital for effects and helping the financial market account for and correctly translate impact into dollar value.