Sanjay Dubey of Memorial University has won the $80,000 second prize in the 2026 Student Entrepreneur Climate Solutions Prize for his work developing seaweed-based alternatives to conventional plastics.

The award recognizes Dubey as a Co-Founder of St. John’s-based BioLabMate Composite Inc., a startup he co-founded with CEO Dr. Sarika Kumari. Although the prize was presented to him personally, the funding will be used to advance the company's commercialization efforts.

The Student Entrepreneur Climate Solutions Prize awards $100,000 to the first-place winner and $80,000 to the runner-up. The competition recognizes student-led ventures developing technologies to address environmental challenges.

“The Climate Solutions Prize represents much more than an award,” said Dubey in a LinkedIn post. “It highlights the critical role that innovation, entrepreneurship, and research play in addressing some of the most pressing environmental challenges of our time.”

BioLabMate is developing thermoplastic bio-resins derived from seaweed as an alternative to petroleum-based plastics used in laboratory, healthcare and advanced manufacturing applications. The company says its technology is intended to reduce plastic waste, greenhouse gas emissions and reliance on fossil fuel-based materials while supporting a more circular materials economy.

In an email, Dubey said the funding will be used to scale pilot production of the company's bio-resins, expand material validation and performance testing with industry partners, and strengthen its intellectual property and commercialization activities.

He said the award would help accelerate the commercialization of the company's technology.

BioLabMate has recently participated in several industry events as it works toward commercialization. The company presented its seaweed-based bio-resin technology at Web Summit Vancouver 2026, where representatives met with investors, industry leaders and potential partners.

Kumari, also served as a panelist at the Chemical Institute of Canada CSC 2026 Symposium, discussing circular transformation, waste reduction and sustainable materials.

Earlier this year, BioLabMate was nominated for the 2026 Climate Leadership Award by the City of St. John's in recognition of its work developing sustainable materials and cleantech technology.

Dubey said the Climate Solutions Prize provides encouragement to continue developing BioLabMate's seaweed-based bioplastics and demonstrating how ocean-derived materials can help reduce plastic waste while providing sustainable alternatives for industrial applications.

“These milestones have helped increase awareness of BioLabMate and our technology as we continue progressing toward commercialization,” he said.