Solvita Kostjukova is co-founder and CEO of venture ALINA. ALINA uses innovative zero waste technology to manufacture ALINA LIFE products, available for interior and exterior architectural paint and coating producers to reduce and substitute hazardous chemicals and heavy metals in readymade products.
ALINA company is supported by EIT RawMaterials and is finalist of INNOVEIT 2017, awarded as Start-up of the Year of the German-Latvian Business Award 2018 and ranked among the Top 25 Cleantech Companies in Europe.
Solvita’s core competencies are deep-science commercialization and product development, 10+ years of science management experience, PhD cand. in mathematical modelling, and 4 years of social entrepreneurship under the LUDE brand.
ABOUT THE COMPANY
ALINA produces state-of-the-art clay mineral materials, by challenging how things are made. By putting people’s health first, we take responsibility not only for humans, but for the environment as well. ALINA uses innovative production technology to manufacture clay mineral materials, available for building product manufacturers to substitute use of hazardous chemicals and heavy metals. Reducing environmental pollution, we improve people health and wellbeing. Product ALINA LIFETM is significant innovation for paint & coating industry, ALINA LIFETM product composition is protected by approved and pending PCT (11 regions) and is validated by No 1 Eco-certification institution in USA (Cradle to Cradle) – ALINA LIFE earned a Silver Level Material Health Certificate, becoming the first among competitors, receiving a sustainability certificate worldwide. ALINA LIFE TM doesn’t lose properties over time, it is non-hazardous for people and nature, protects paint products while storing and when painted on the wall, replacing two different groups of hazardous chemicals. Physical and chemical properties well fit to paint industry requirements. For architectural paints only, total addressable market is estimated as 9,37 bn. € annually. Capital Raised to Date: (1) 2016 European Innovation and Technology Institute Raw Materials Public grant 60 K €, (2) 2018 Public R&D National support 32K €; (3) 2017-2019 Public National support 44K (4) 2017Private investments (angel) 250 K € (5) 2019 Europe Union grant LIFE public funding 1 917 K €
- Missing knowledge and understanding of Investment industry (Angel investors, Capital venture, Banking) about return of investment cycles, timeline and rates of deep-science and impact ventures.
- Missing tools to qualify the impactful ventures in terms of achieving the UN Sustainable Development Goals.
- Missing deep-science and sustainable venture experienced women – role models natural media coverage (not only those that focusing on gender balance)
- Age and gender influences – diminishes mine experience and knowledge and perception of me in discussions with male partners when it comes to finance statements, investment attraction, business models and development strategies.
Change can be accelerated by educating investment industry about the gender balance and diversity positive influence on sustainable venture development and return of investments as well as complex benefits from impact investments.