Global-Spin News

Young and innovative startup awarded for its efforts for a more sustainable world

Young and innovative startup awarded for its efforts for a more sustainable world
Monday, 21 May 2018

According to estimates, every year in Europe more than 25 million tons of plastic waste is generated and less than 30% is recycled. At the beginning of 2018, the first European plastics strategy was adopted as part of a shift towards a more circular and sustainable economy based on reuse, repair and recycling. [1]

In this scenario, a smart and innovative Spanish start-up decided to ride this wave of transition, recognizing the importance and the need to make progress towards a more sustainable world. Biofy, created by four young students from the University of Malaga, proposes a solution to convert plastic waste, normally accumulating in landfills and in nature, into a low-cost fuel oil that reduces emissions, and it complies with the European pollution standards.[2] Thanks to this project, in the tenth edition of the Startup Programme, Biofy won the Enterprise Challenge award and in June will represent Spain in the European final Junior Achievement Europe Enterprise Challenge 2018 in Latvia.[3] Furthermore, the group of young entrepreneurs received from the Fundación PwC a reward for the highest potential for growth in global markets. [4]

In today’s world, the global environmental situation is an issue that affects all of us, even in the business world. Supporting this wave of young and innovative startup initiatives is the first step towards economic growth in a more sustainable future—with both environmental and economic benefits.