Gelatex Technologies, an Estonian deeptech company specialising in nanotechnology, achieved second place in the KPMG Global Tech Innovator competition 2024.
Out of nearly 1,500 participants, Gelatex was selected as one of the 23 finalists, ultimately finishing second only to Thermalytica Inc. from Japan, which focuses on developing thermal insulation technology.
Gelatex has developed and patented the world’s most efficient nanofiber production technology, known as HaloSpin technology. This innovative process reduces the cost of nanofiber production by up to 90%, making it more cost-effective and sustainable for various industries. As a result, nanofibers can now be used in applications that were previously unaffordable due to high production costs.
“We are honoured to participate in the KPMG Global Tech Innovator 2024 competition and grateful to be recognised for our team’s dedication and innovation,” said Märt-Erik Martens, CEO and co-founder of Gelatex Technologies. “This achievement reaffirms our status as a technology company and inspires us to pursue even greater goals.”
Gelatex´s technology eliminates the necessity for animal testing
Gelatex’s technology is versatile and can be applied in regenerative medicine, cultured meat production, and energy storage. Additionally, Gelatex’s adaptable materials advance innovation by eliminating the need for animal or human testing for drugs or cosmetics. Their novel multi-purpose nanofiber materials are suitable for a wide range of research and commercial applications.
“The KPMG Global Tech Innovator is a prestigious international competition that brings together top technology companies worldwide to recognise and support their innovative ideas. This competition aims to accelerate entrepreneurs’ development journey by allowing them to showcase their innovative solutions and technologies to a global audience, including industry experts, investors, and potential partners,” said Helen Veetamm, Partner and Head of Startups at KPMG.
“Estonian startups are known worldwide for developing innovative solutions, and it was no surprise to us that Gelatex managed to achieve a high score in Estonia’s first participation in the Global Tech Innovator competition,” noted Dmitri Ševoldajev, M&A practice leader at KPMG. He added that participating in the competition opens many doors by connecting winners with key players and networks in the global technology sector.
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