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Photo: Monica Kutics Normark
Vinnare av Venture Cup Nord 2015. From left: Roland Larsson, Yijun Shi, Mattias Grahn and Christian Olsson. Photo: Monica Kutics Normark View original picture , opens in new tab/window

Bio-lubricant onward to great finale of Venture Cup

Published: 1 June 2016

The research team behind bio-lubricant SustainaLube have made it to the grand final in the idea contest Venture Cup. Now the team can win a place on Epicenters and Google's incubator program. The lubricant is oil-free, based on a non toxic waste product and produces a completely renewable product.

- We are delighted that we are further in the competition. It is proof that we have a good product that is current at the time, says Christian Olsson, CEO Sustainalube.

Christian Olsson, Yijun Shi, Roland Larsson and Mattias Grahn at Luleå University of Technology has created Sustainalube AB and a market launch for their product is drawing near. The lubricant they have developed over four years is oil-free, based on a non-toxic residue and herbal additives to produce a completely renewable product. The combination provides a brand new environmentally friendly lubricant with a competitive price that will perform similarly to today's products.

Now they made it to the grand final of Venture Cup, swedens biggest innovation contest, and might win a place at the Epicenter and Google's incubator program. During the gala, which takes place June 9, over SEK 200 000 will be distributed to the participating entrepreneurs. In addition, all winners get a one year's mentoring by SEB and the overall winner will receive consulting from McKinsey & Company.

Venture Cup jury's verdict: "A complete, unique business with established customer interest. With a good drive, great experience and a great opportunity to show growth this team that they are worthy of total profits. They found a clear target market and focus on the benefits of society. A unique idea! "

Even the skellefteå based team behind Yamzu which has developed a platform for e-sports in which players can create and participate in various events that are not currently available in the market are nominated to the finals, it reports the Arctic Business Incubator.