Could SOMA help IKEA's sustainability initiative?

IKEA's incubator bootcamp

“We are looking for entrepreneurs who want to co-create with IKEA to create a better everyday life!” (from the IKEA bootcamp website)

(Update: November 16, 2018)
Jacob returned from a whirlwind Scandinavia tour: three countries in three days! In Copenhagen he signed on another watch company for our marketplace (more on this soon); in Sweden he participated in IKEA’s Head Start program, and in Helsinki he met with the SOMA team and participated in key meetings with investors and new hires.

View the SOMA slideshow here.

SOMA was one of 10 startups pitching to IKEA’s team. All in all, some excellent innovation was represented in the room.

(November 9, 2018)

On November 13, 2018, SOMA co-founder and chief marketing officer Jacob Andra will pitch SOMA’s Heimdall Protocol to IKEA top decisionmakers at the company’s ‘IKEA Bootcamp,’ described in an invitation email as “a semi-remote pilot-focused startup program for IKEA to test real collaborations with 20 selected growth stage startups” by Carsten Brink, IKEA’s “Lead startup scout host” for the event.

You read that right: IKEA reached out to SOMA. We must be doing something right.

After pitching to IKEA at the company’s headquarters in Älmhult, Sweden, Jacob will join his co-founder Jukka Hilmola in Helsinki for a key investor meeting on the following day.

Invested in sustainability

IKEA values sustainability, as evidenced by its “People and Planet Positive” 2017 sustainability directive. A key component is that of promoting the ‘downcycling’ of items: diverting them from the landfill to secondary owners.

Photo by Mike Marquez on Unsplash

Chain of ownership

SOMA’s Heimdall Protocol tracks each item through a digital representation stored immutably on the blockchain. Blockchain-based proofs timestamp and record all info about ownership across primary and secondary markets.

Photo by Saide Serna Marcial on Unsplash

SOMA & sustainability

We’ve prioritized sustainability all along. It’s why we’ve had such a focus on secondary markets. Also on value preservation & the elimination of intermediaries who siphon value disproportional to their contribution.

Photo by Rodion Kutsaev on Unsplash

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