Alga.e

IE Business School

Industry: Green Technology / Waste Management

Founding Student Name(s): Maria Elena Escribano, Anna Paskova, Guglielmo Baldin, Santiago Giorgini

Brief Description of Solution: Alga.E’s Toolkit converts sargassum from a coastal nuisance into a valuable resource. Our solution is a B2B model that addresses the pressing issue of sargassum accumulation aﬀecting beachfront hotels and the need for sustainable raw materials in production industries. We install processing units at hotels to convert the problematic sargassum into valuable powdered resources, which are then supplied to companies for use in various production processes, such as creating biofertilizers and bioplastics. This approach not only mitigates the environmental and visual impact of sargassum on beaches, but also reduces the cost and environmental footprint of sourcing raw materials for companies. This innovative solution aligns perfectly with the rising demand for sustainable business practices and oﬀers a pragmatic approach to tackling environmental challenges through entrepreneurial innovation.

What led you to launch this venture? The idea for Alga.E was born during the IE Challenge, a program designed to inspire entrepreneurship and innovation among students at IE University. During the challenge, the team recognized the severe ecological and economic impact of sargassum accumulation along tropical coastlines, particularly in Mexico’s Yucatan Peninsula. The frequent and escalating inﬂux of sargassum was not only damaging marine ecosystems, but also signiﬁcantly aﬀecting the tourism industry, a critical part of the local economy.

This presented both a pressing problem and a unique opportunity. Motivated by the potential to create a sustainable solution, the team developed the concept of transforming sargassum into a valuable resource through innovative technology. Alga.E was launched to address this critical issue while making a positive impact on the environment and local economies.

What has been your biggest accomplishment so far with venture? Our biggest accomplishment so far has been Alga.E’s selection into the Greentech Europe 2024 accelerator program, powered by Village Capital and Visa Foundation. Being part of Track 2 is a fantastic opportunity for us to advance our mission of transforming sargassum into a sustainable resource and addressing major environmental challenges in Europe. Additionally, our team reached the ﬁnals of the IE Venture Day, where we were honoured to receive the IE Sustainability Award and be recognized as the Best Undergraduate Startup Award.

How has your business-related major helped you further this startup venture? Our background in business studies has directly inﬂuenced the development and growth of Alga.E. The coursework and projects we engaged in provided us with hands-on experience in building ﬁnancial models, analyzing market opportunities, and designing strategies that speciﬁcally address scaling a business focused on sustainability. This practical application of our studies has been key in shaping our approach to tackling the sargassum problem.

For instance, while we were reﬁning our business model, our understanding of cost structures and revenue streams helped us design a solution that balances operational eﬃciency with proﬁtability. Additionally, our training in entrepreneurship encouraged us to experiment, adapt, and stay agile, which has been essential when navigating the challenges of forming partnerships with hotels and industries. The skills and experiences from our business education have allowed us to approach Alga.E with a strategic and informed perspective, making our growth sustainable and our impact signiﬁcant.

Which business class has been most valuable in building your startup and what was the biggest lesson you gained from it? The most valuable business class was the IE Challenge, a multi-curricular program at IE University designed to inspire innovation and entrepreneurship among students. The biggest lesson we gained was the importance of collaboration and diverse perspectives in tackling real-world problems. The challenge pushed us to think creatively and work together to develop innovative solutions. It was through this experience that we realized our collective strength, which motivated us to continue building our venture beyond the program.

What business professor made a signiﬁcant contribution to your plans and why? Paris de l’Etraz, PhD, Managing Director of the Venture Lab at IE Business School, played a signiﬁcant role in reﬁning your business plans. He possessed extensive experience in M&A. These experiences, coupled with his role in executive education and consulting for large companies focusing on innovation through disruptive technologies and startups, provided invaluable insights. His guidance in preparing a startup to be investor-ready through the Venture Lab’s programs undoubtedly contributed to developing a robust strategy and ensuring that our venture was poised for success. His background in fostering creative collaboration agreements and his connections in international markets also likely oﬀered strategic advantages in navigating complex business environments.

What founder or entrepreneur inspired you to start your own entrepreneurial journey? How did he or she prove motivational to you? Melanie Perkins, the co-founder of Canva, deeply inspired me to start my own entrepreneurial journey. Her story of transforming a simple idea from a university project into a multi-billion-dollar enterprise really resonated with me. She proved motivational through her relentless pursuit and the sheer determination to simplify design for everyone, regardless of their skill level. Witnessing her tackle numerous rejections and continue to push forward until she found the right investors showed me the power of resilience and vision in entrepreneurship. Melanie’s approach to user-friendly design and her commitment to making professional-level design accessible sparked my interest in tackling big problems and ﬁnding simple, scalable solutions.

What is your long-term goal with your startup? Our long-term goal at Alga.E is to scale globally, addressing sargassum challenges in regions like the Caribbean, West Africa, and beyond. We aim to leverage our on-site dehydration technology to reduce transportation costs and emissions, making the process both eﬃcient and sustainable. By diversifying our client base—including partnerships with seaweed companies, international organisations like the EU and UN, and industries such as cosmetics, agriculture, and biomedical—we plan to create a robust circular economy. Additionally, we intend to develop our own high-value products from processed sargassum, maximising impact and leading the shift toward sustainable solutions that transform environmental challenges into economic opportunities.

How has your local startup ecosystem contributed to your venture’s development and success? As students at IE University, we have greatly beneﬁted from the local startup ecosystem, which has been crucial to Alga.E’s growth. The support from IE’s entrepreneurial programs, such as the IE Challenge and Venture Lab, oﬀered us the opportunity to test and reﬁne our concept, receive mentorship from industry experts, and build a strong business foundation.

Participating in events like IE Venture Day not only gave us exposure, but also connected us with investors and professionals who provided critical feedback that helped us improve and scale our solution. The collaborative and innovative environment at IE University, combined with the broader startup network in Spain, has been instrumental in shaping our venture and driving its success.

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