A young Scottish scientist has won a prestigious entrepreneurship award from Shell for his business which produces algae to sustainably feed fish.
The Shell LiveWIRE programme recognises and awards equity-free grants to the most inspirational young entrepreneurs who have the potential to accelerate the transition to a more sustainable economy and lower-carbon future.
Edinburgh-based Douglas Martin, 26, received the Shell LiveWIRE Smarter Future Award and £5,000 of equity-free funding to help grow his company MiAlgae.
According to Martin, his business can grow microalgae rich in omega 3 and other nutrients using co-products from the Scottish whisky industry. This process makes MiAlgae stand out from many of its competitors: “We use other industries’ waste, create microalgae from it, whilst also cleaning the co-products. Our process is the embodiment of the circular economy.”
Small and medium-sized enterprises (SMEs) account for over 90 percent of the UK’s low-carbon sector, yet less than half of UK SMEs survive beyond their first five years*. Encouragingly, the survival rates for Shell LiveWIRE winners outperform the national average, with over 70 percent of winners surviving beyond three years.
Martin also received funding for MiAlgae from other sources, including the Climate-KIC accelerator and the Smart Scotland Grant; he has already earmarked the Shell LiveWIRE funding for further trials to help commercialise the product.
Commenting on his win, Douglas Martin said:
“I have been pleasantly surprised and impressed by the help and support MiAlgae has been given by the Scottish low-carbon community, including Shell LiveWIRE. It’s a fantastic endorsement for our business and we’re excited for the future.”