H&M's Weekday is Repacking. How awesome is that?
Funding on the Horizon
The European Commission is Repacking, we received fundings and this is huge.
RePack has secured almost €2 million funding from the European Commission. Are we happy? You bet we are! We were one funding away from the better version of ourselves. The EU just made that possible: meet Repack 2.0, bigger and stronger.What kind of fund is this?
The funding is part of the Commission's Horizon 2020, the biggest EU Research and Innovation Framework Programme.
To be specific, the founding round is part of the EIC's 3 billion€ worth program the European Commission enacted back in 2017 to promote European competitivess especially in emerging technologies.
The EIC Accelerator scheme helps "high-risk, high-potential" companies with the potential to disrupt existing markets or even create totally new ones. You hear that single-use?
“Each of the companies receiving funding through the European Innovation Council is offering a solution to a problem that affects the daily lives of Europeans, be it in the area of health, environment, energy and more,” said Carlos Moedas, commissioner for research, science and innovation at the European Commission.
"The timing is perfect" is what the judges said on the Horizon 2020 panel. #Reuserevolution is most definitely taking place.
What do this mean for us at Repack ?
This is a truly a HUGE step forward for Repack. We've been granted 1.78 million €. Believe us, we won't just sit on it. So many stuffs will go from crazy ideas to reality.
It's bringing us closer to a world where reusable packaging in the strandard for eCommerce and we're not getting out of the picture anytime soon.
In fact, this money unlocks Repack 2.0: a focus on customer experience, new return channels and a stronger team.
Finland, a hot place right now for fundings.
Not just Repack but eight Finnish companies have received a considerable boost to their future. From the 210 million euros in funding granted by the European Innovation Council (EIC), Finnish companies are getting 13.5 millions. Way to go Suomi!