A business plan that aims to turn food waste into new products, and profits, won the 2016 Sabin Sustainable Venture Prize.
Renewal Mill, created by two members of the Yale School of Forestry & Environmental Studies (F&ES) community — Sumit Kadakia
’16 M.E.M./M.B.A. and Claire Schlemme
’11 M.E.M. — is working to identify and convert products found in existing food waste streams into new wholesome and nutritious foods. Their first goal is to commercialize the conversion of okara, or soy pulp, into a form of flour.
In addition to a $25,000 cash prize, the business receives automatic entry into the Yale Entrepreneurship Fellowship.
Another prize finalist, Appalachian Roots—Hemp 2.0, which was co-led by Nathan Hall
’16 M.E.M. ’17 M.B.A, won the audience’s choice award. Hall, along with partner J. Todd Howard, is developing technologies to grow sustainable hemp in regions of Kentucky affected by the downturn in the coal industry.
The Sabin Prize was one of four prizes awarded during Entrepreneurship Across Yale
, a two-day series of contests that invited world-changing ideas from across the Yale community. The prize is managed by the Yale Center for Business and the Environment (CBEY), which is based at F&ES and the Yale School of Management.