Elite Entrepreneurship: The Algae Entrepreneurs Are Ready to Revolutionize

This is part of a series of articles about the work and people behind one of Sweden’s best high schools for entrepreneurship.

Affärsgymnasiet has a long list of national and international achievements when it comes to young entrepreneurship. With over 200 UF-related awards (Young Enterprise), national and European championship gold medals, and recognition as one of Europe’s top entrepreneurial schools, the school truly stands out.

During this year’s national championships, the school had 9 nominated companies and won 5 medals in all categories.

One of the companies at the national finals was Proalg UF – the company aiming to revolutionize the food industry. They have developed a protein and nutrient supplement made from microalgae, which food companies can use in their products.

Together with Lund University, the UF company is researching ways to increase the protein content. A higher amount per mass would make it both cheaper and more environmentally friendly to extract algae protein for food products.

The students have developed a product that can be used in most food items and will have a significant impact on Sweden’s food consumption.

Awarded 300 000 SEK

For this achievement, they have been rewarded. The XO Foundation has awarded the company a scholarship of 300,000 kronor. CEO Wilma Ericsson appeared on TV4’s Nyhetsmorgon during the first day of the national finals to discuss what this means for the future:

– We can expand our cultivation and conduct the necessary food tests. Many lab tests are required to develop the additive, she told TV4.

An Ocean of Opportunities

And during this intense period, we finally get a chance to talk with ProAlg. With scholarship ceremonies, gala dinners, and transportation to and from the TV studio, it would be understandable if the students lost focus on the main purpose of their trip to Stockholm: participating in the national finals.

But instead, they are energized and enthusiastic. They are not only excited about the opportunity to participate in a national championship but also about the possibilities that lie ahead.

– We are ready to take the next step and have exciting things in the pipeline, says Wilma Ericsson.

Felix Granath, the Chief Financial Officer, agrees:

– We will explore various opportunities to continue growing.

Built Self-Confidence

Felix thinks the most exciting part of the whole process has been the chance to be creative and find new ways to do things. For example, streamlining processes and making them more cost-effective.

He believes that the teachers have supported them in incorporating a business perspective into their schoolwork and provided valuable knowledge. At the same time, he has grown personally.

– I’ve learned a lot about taking responsibility and acting as an entrepreneur. It has been a significant personal development.

Wilma provides a similar response but adds that they have also learned a lot about themselves and each other. One of the biggest lessons has been about self-confidence.

– We dare to do things now that we didn’t dare to do before, she says.

What tips do you have for students who want to run a UF company?

Wilma:

– Seize every opportunity, take risks, and make the most of every chance that comes your way.

Felix:

– Participate in events and network as much as possible. It opens many doors.