Social trading and energy storage in salt became the winning technologies of Serendipity Challenge 2017. Sprinklebit won the title “The Startup of the Year” for its user-generated platform that provides amateurs and professionals recommendations and aggregated analysis of a stock price’s likelihood to go up or down. SaltX was awarded with “The Growth Company of the Year” for its patented technology that goes hand in hand with the development of renewable energy and the increasing demand for storage methods for intermittent energy sources.
The winners really stood out in a strong line up of entrepreneur-led companies from across the Nordic region. In total, nearly 400 have applied for this year’s competition, spread across many industries such as medtech, e-health, cleantech, VR, IoT, robotics, fintech, logistics and more.
“This year’s final was the strongest to date. All companies have potential or are well on their way to revolutionizing their respective industries and many have already gained international ground. During the finals, we have seen unique and ground-breaking products and services that create new values and customer behaviour. Sprinklebit and SaltX are very worthy winners”, says Omid Ekhlasi, founder and head of the Serendipity Challenge.
JURY DECISION AND RATIONALE
Startup of the Year – Sprinklebit
With a unique and scalable platform, both amateurs and professionals are given aggregated and predictive data on stock prices as well as the possibility for stock trading. The platform has been approved by FINRA and the company have already proven that they have the capacity for continued growth.
Growth Company of the Year – SaltX
With its unique technology, the company contributes to sustainable development in energy storage while addressing one of today’s global challenges. The company uses a cheap and natural raw material and is well-equipped for the global market.
In addition to the above awards, the Industry Prize went to SaltX, Coala Life was awarded with Nordea’s Partner Prize and the audience appointed Prindit as the winner of “The Audience Prize”.
Short info on all the 7 finalists below.
Signal Signal revolutionary technology enables you to monitor the spoken word around the world. With the help of machine learning, Signal Signal helps its customers find out when they are mentioned on Youtube, TV and radio. On average, the service analyses 100-300 hours of audio daily. According to statistics, 2.2 million Swedes listen to podcasts every month, and the market for new formats is growing rapidly. The technology supports up to 80 languages, making it scalable and commercially viable on the international market.
Doctrin has developed an e-health tool and platform that, through dynamic questionnaires, compiles patients’ medical history, and enables prioritization, treatment and follow-up of patients. This raises the quality and saves valuable time in the healthcare process. By 2017, Capio will implement the e-health tools at all their clinics with a total of 750,000 listed patients. The company has raised over 33 million SEK since the start.
Ideal of Sweden is a fashion and lifestyle brand specializing in mobile accessories. Each product is designed in-house. The company has grown rapidly in a highly competitive market in a short period of time. The company has a turnover of 150 million SEK globally, which means one sold product every 30 seconds.
SaltX Technology develops a patented a ground-breaking technology with which energy can be stored in salt, and subsequently recovered in the form of heat or cold. Approximately 50% of the energy consumption worldwide is used for heating or cooling, and meantime the demand for renewable energy is increasing rapidly. One of the main challenges regarding renewable energy is what’s known as intermittent energy source, meaning that the supply of available energy is volatile. By storing heat and use it during night, the intermittent problem is solved. SaltX Technology is listed on the Swedish stock exchange First North.
SprinkleBit is a social investing app and platform where both amateurs and industry experts help each other to navigate the markets and make better investment decisions. Among several features on the platform it offers a unique tool called the Value Prediction Index— each stock gets scored based on what the community predicted regarding future stock price. The platform, which also offer its users trading possibility, is approved by FINRA. SprinkleBit has today approximately 20 000 users.
People in developing countries pays the highest fees for international transactions. Transfer Galaxy’s business idea is to offer a digital alternative to traditional remittance, like a swish for international money transactions, which is easier, more secure and cheaper than current alternatives. The market for remittances is approximated to USD 605 million.
Wint is a fintech company which digitalise accounting. They have developed a SaaS solution with an integrated AI-engine that handles everything from invoices, payments, salaries to VAT, all in real-time. Their current revenue is SEK 41 million, and they have a first mover advantage in an industry that is transforming rapidly.
For more information, please contact:
Camilla Wallin, Press & Communications officer
+46 (0)709 58 11 08, email@example.com
Omid Ekhlasi, Founder and head of the Serendipity Challenge
+46 (0)735 252 509, firstname.lastname@example.org
About the competition
Serendipity Challenge is an entrepreneurship competition for startup and growth companies. It is a joint venture, organized by Serendipity and Industrin tar Matchen (ITM). A jury chooses 50 companies among the hundreds of applications received, which proceeds to the finals in Almedalen, Visby. The jury is chaired by Saeid Esmaeilzadeh, founder and chairman of Serendipity Group and the jury members are renowned investors, entrepreneurs and innovation experts. Serendipity Challenge is open to all Nordic companies regardless business sectors. www.serendipitychallenge.se
About Industrin tar matchen
Industrin tar matchen is a joint initiative by thirteen Swedish industry organizations; its mission is to clearly communicate the importance of business and industry for Sweden’s prosperity. www.industrintarmatchen.se
Serendipity is ”House of Technologies – Home of Entrepreneurs”. It was founded in 2004 with focus on building innovative companies based on scientific discoveries. It’s portfolio contains listed and privately held firms that operate within advanced material, animal health, bio technology, clean technology, and medical technology. www.serendipity.se