Calling green entrepreneurs in need of a cash boost: Time is running out to enter the Postcode Lottery Green Challenge
- 16 May 2014
LONDON: Time is running out to enter the Postcode Lottery Green Challenge, a competition which invites start-up entrepreneurs to share their CO2-reducing business ideas to be in with a chance of winning €500,000 (~US$680,000).
“People will not stop consuming. Instead, we must offer consumers a green alternative to bring climate change to a halt. The Postcode Lottery Green Challenge is about stimulating the development of these alternatives”. With this statement, Sir Richard Branson, supporter of the Postcode Lottery Green Challenge, stresses the importance of developing an environment wherein entrepreneurs are better able to source funding to tackle one of the world’s biggest challenges - climate change.
The Challenge is an effort of the Dutch Postcode Lottery to bring smart and innovative green products and services to the mass market and thereby help combat climate change by reducing greenhouse gas emissions, with the winner of the international competition receiving €500,000 (~US$680,000) to develop and bring their idea to market.
An additional €200,000 (US$272,000) will go to one or two runners-up.
Green ideas of US entrepreneurs
Over the past seven years the Green Challenge has helped advance several valuable, ground-breaking green ideas. The US has been well represented over the years with multiple winners and finalists.
US entrepreneur Ginger Dosier won the challenge in 2013. Her company, bioMASON, entered the competition with a business case based on a new revolutionary brick production process, offering a clean alternative to the existing process which generates massive emissions worldwide.
Molly Morse won the 2012 grand prize for Mango Materials, a company that uses bacteria to turn methane into biodegradable plastic. In 2010 Scot Frank won for his low-priced, multi-purpose portable solar collector Solsource.
In 2008, Eben Bayer of New York won the grand prize for developing a plastics alternative from agricultural waste and the roots of mushrooms. Using this material, his company, Ecovative, produces packaging and building materials for companies such as SteelCase and Dell.
A simple idea that pays
This year US and global finalists can submit their business plans, ranging from renewable energy innovations to breakthroughs in sustainable materials. Entrants can register and submit their business plans until June 3 2014 at 5:59 a.m. ET (11:59 CEST).
Entries are judged through an intensive deliberation process by a renowned group of global jurors.
The jury looks for products and services that contribute to an eco-friendly lifestyle, directly reduce greenhouse gas emissions and score highly on convenience, quality and design.
After selecting five to seven finalists in August, on September 11 they will present their plans before the jury, public and the press at an event in Amsterdam.
The winners will be announced on Greenchallenge.info, Twitter and Facebook. If you want to be one them, register now (free of charge) and submit your business plan at the website Greenchallenge.info until June 6.
The following post is sponsored by the Postcode Lottery Green Challenge and was originally posted on TreeHugger.