The German startup BettaFish, winner of the second edition of The Gap in Between

Valencia, October 9, 2024. Over 1,000 people attended the second edition of The Gap In Between yesterday at La Marina de Valencia for the purpose of promoting collaboration between impact startups, large companies, investors and civil society. Organized by Social Nest Foundation, the global platform for investors and entrepreneurs with social and environmental impact initiatives, The Gap in Between has staked its claim as the meeting place and acceleration point for business models addressing the systemic challenges facing society today.

The founder and executive president of Social Nest Foundation, Margarita Albors, specifically referred to this collaboration during the inauguration of The Gap in Between when she defined it as "a space that goes far beyond a single event. This is a place to come together, not as individuals, but rather to join forces in a collaboration that will bridge the gap between the world we see, and the world we believe in”.

One of the most highly anticipated moments of this second edition was the outcome of the Startup Challenge, where 20 startups got to pitch their projects and convince a demanding jury that they are the most impactful startup when it comes to solving systemic challenges in society. In this second edition, the winner was BettaFish.

This Germany-based startup is working to transform seaweed into a commonly-used and sustainable ingredient. Seaweed farming is regenerative: it reforests our oceans and provides fishing communities with an alternative source of income. With this award, the startup has won 10,000€ in prize-winnings, in addition to earning the chance to pitch its projects to high-level investors.

In addition to the overall winner, there were also awards given by category: the award for Safe, Accessible and Nutritious Food Systems went to Oscillum, from Elche; for Social Inclusion and Equity Beyond Business the Israeli startup VSL Labs; in the category Energy Transition and Sustainable Cities, the Madrid-based ARAIS.IO took home the prize; Oly, from France, earned the award for best Circular Business Strategy and in Innovative Finance, the winner was the Valencia-based Crowmie.

During the inauguration, Social Nest Foundation CEO Marta del Castillo drove home how important collaboration is to solving today's social problems, such as social conflicts, climate change and inequality. “We have known for years that there is no specific space where all us actors for change can meet up. Entrepreneurs, governments, investors and business leaders, all together managing to address the challenges facing the planet”, she added, in reference to this second edition of The Gap In Between.

Collaboration as the driving force behind systemic change

At the various round tables held over the course of The Gap In Between, it was made clear that promoting business and generating a positive impact on society are two fully compatible activities. In this regard, Ana Dubóis, Head of Partnerships at Ashoka Global, stressed that "we need to think differently and innovate. The most important thing for lasting systemic change is to replace the current production processes with more sustainable ones, without losing any capacity for doing business".

Regarding these production processes, Ivo Degn, co-founder and CEO of Climate Farmers, pointed out that “what must set the pace when implementing these more sustainable production systems is the characteristics of the land and its owners . We cannot try to force these farmers to become sustainable overnight. Instead, our job is to take into account each one's specific conditions”.

Another issue discussed by the speakers participating in this second edition is the key role played by public institutions. Paula Llobet, Councillor for Tourism, Innovation and Investment for the Valencia City Council highlighted: “it is an honor for Valencia to be hosting the second edition of The Gap in Between, an event that turns our city into the epicenter for innovation and social change. This gathering not only strengthens our position as the European Green Capital 2024, but also shows how committed we are to sustainable development and finding solutions to global problems we face as a society”.

Along the same lines, the Managing Director of Entrepreneurship and Internationalization, Ester Olivas, highlighted how important it is to hold these kinds of meetings, which seek to promote entrepreneurship with social and environmental impact. "Entrepreneurship is a commitment to undertaking new courses of action and showing an innovative spirit, hallmarks of the Valencian Community, where the entrepreneurial ecosystem is on the rise thanks to companies taking up new models for new solutions. Our region has thus become a national and international standard-bearer in this area, with an enormous capacity for innovation and growth", she stated.

Impact investing, key to the economy of the future

Another highlight of the event was the round table The Role of Finance to Catalyze Social Progress in a Future Economy, which addressed how important it is for investors to place their bets on sustainable business that impact society. On this issue, Linn-Cecilie Linnemann, the regional partner at Lumo Labs, noted: “We normally hear that impact investing is a small market, only for mobilized people and philanthropists. However, it grows 20% a year. No other financial market grows at that rate”.

Along the same lines, Tim Radjy, co-founder and CEO of Alphamundi, highlighted that “a systemic change in the financial market requires several instruments: regulation and legislation, to transform the mentality of banks and large companies, and to educate decision-makers, whether they be investors or entrepreneurs”.

Another point of view in impact investing is that of organizations. The director of accessibility and innovation of ONCE, Jesús Hernández-Galán, pointed out that “the social entrepreneurial ecosystem in Spain is getting stronger and stronger . We have actors that are connected to one another, such as accelerators, investment funds and entrepreneurs, who are making our country ever more prominent”.

The Gap in Between receives support from the Generalitat Valenciana, the Valencia Provincial Council and the Valencia City Council, through València Innovation Capital, as well as backing from organisations such as the Escuela de Organización Industrial (EOI), Caixa Popular, Fundación ONCE, Zubi Group, Factorial, COFIDES, Iberia, Renfe, L'Oréal Groupe, Capsa Food, EIT Food, First Drop, Enisa, Danone, Unicef and Ashoka.