R250k up for grabs for entrepreneurs with circular economy ideas
Business owners in Southern Africa are invited to enter a challenge that will help them scale up their businesses.
They stand to win R250,000 investment, mentorship, if needed, according to the needs of their business up to the value of R100,000, and an opportunity to test their product or innovation at the V&A Waterfront, which represents significant exposure.
Businesses based in Angola, Botswana, Lesotho, Mozambique, Namibia, South Africa, Eswatini, Zambia and Zimbabwe are encouraged to seize this opportunity to grow and develop their network and business.
They should have developed an innovative solution that meets the definition of circularity, and have at least a prototype ready for testing.
The Circular Innovation Challenge is a project by SOLVE, a non-profit organisation established by the V&A Waterfront.
It was established to give effect to strategic shared-value projects and to amplify the positive social, economic and environmental impact of the V&A Waterfront on surrounding communities, with the support of the V&A Waterfront and in partnership with the Vikāra Institute.
How it works is that the idea is pitched on how to reduce waste, retain value and contribute to regenerative economic systems. Those who enter should also be ready to demonstrate what their business does and how it contributes to the circular economy.
Graham Wood, CEO of the V&A Waterfront, said circularity was not an abstract commitment, and for them it’s built into the harbour, retail leases and public spaces.
“We are constantly testing what a circular precinct looks like in practice, and the Circular Innovation Challenge lets us open that same testing ground to entrepreneurs building the next generation of circular businesses.”
Wood said every year this challenge proves that some of the most important environmental work in Southern Africa is happening in ordinary businesses solving practical problems.
“We are looking for the businesses doing that work right now, and we want to give them the platform, the partners and the capital to do more of it.”
Eligible applicants include businesses working in agriculture, manufacturing, food systems, construction, fashion and textiles, packaging, energy, technology and waste and resource management.
Applications close on September 20 and the pitching session will be held in Cape Town on October 21.