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Two AlgaEnergy solutions chosen among the 3 best business plans for their introduction in the Japanese market

19 June, 2020

A project based on the launch of its brand of cosmetic products, MareVitae®, was chosen as the best Business Plan of the year. For the first time in 26 years, a single company has been awarded twice.

At the beginning of the year, AlgaEnergy was selected by the EU-Japan Center for Industrial Cooperation (a joint-venture between the Japanese Government and the European Commission), to participate in a co-financed program aimed at introducing foreign companies to the Japanese market, called Japan Market Expansion Competition (JMEC). This business training program based in Tokyo, supported by 18 foreign Chambers of Commerce in Japan, and based on the competition of business plans of different companies with interest in the Japanese market, has recently announced the winners of the annual JMEC contest in its twenty-sixth edition. For the first time in 26 years, a single company has been awarded twice: AlgaEnergy's solutions have captured the first and third place in said contest.

Thirteen teams made up of executives from renowned companies based in Japan, and from 17 different countries, investigated, analyzed and presented personalized business plans for the expansion of the companies chosen for their projects in the Japanese market.

After an exhaustive analysis of the projects presented and after months of research, analyzing economic and sectoral data, the jury -made up of experts with extensive experience in the Japanese market- awarded the first prize to the 'JMEC Team Twelve' for its AlgaEnergy business plan and its project based on the launch of its line of cosmetic products based on microalgae, MareVitae®.

Moreover, the third prize also went to a solution from the biotech AlgaEnergy. The third classification went to the working group ‘JMEC Team Three’ with a project focused on solutions based on microalgae for the food industry, specifically food condiments enriched with these microorganisms.

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