What do we offer to innovative entrepreneurs?
Most start-ups fail. Developing and implementing innovative solutions means you face hurdles that other new businesses don’t, including:
- Attracting investment. Cash can be hard to come by for first movers.
- Business skills. Engineers, chefs, parents, technicians, designers - people with solutions don’t always have the business skills needed to attract investment and get started.
- Visibility. Telling your story is critical when you have something new to share, but multimedia production might be too expensive or hard to do well.
- Backing up your green cred. You know your product is more sustainable, but you might not have the skills to quantify it.
- Systemic issues. Circular economy solutions can be more expensive, face too many regulations, or not have the complimentary infrastructure needed.
- Small fish in a big pond. Going it alone as a start-up is a slow road that can lead no-where. Sometimes you need partners with the networks, tech and business know-how to mentor you.
Our prize package tackles these hurdles as much as possible.
- Grants: $10,000 to give you a little more runway. All entrepreneurs can use a little more cash – whether that helps you invest in prototyping, build up your marketing, keep your staff on board, or stock up on inventory to prepare for demand.
- Bootcamp: Meet your cohort and delve into topics that can help you scale. This year’s topics? Getting investment ready, digital marketing, sustainability.
- Video production: Grab attention online with a professional video that tells your story.
- Carbon footprinting: Can you quantify how sustainable your product is? Our science partners will data crunch with you.
- Policy engagement: Tell us about systemic issues blocking your path and we will integrate these messages into our policy advocacy work.
- Partnerships: Industry mentors to help you develop your business strategy, network, and provide technical know-how. You will be invited to a demo day to pitch to investors, and a policy dialogue to share your experiences as an entrepreneur with policymakers.
Criteria and eligibility
These are the things our judges look for in start-ups.
Eligibility
- Applicants should be 40 years of age or less; and
- Citizens of one of the following countries: Afghanistan, Bangladesh, Bhutan, Cambodia, People's Republic of China, Democratic People's Republic of Korea, Fiji, India, Indonesia, Islamic Republic of Iran, Kiribati, Lao, People's Democratic Republic, Malaysia, Maldives, Marshall Islands, Micronesia (Federated States of), Mongolia, Myanmar, Nauru, Nepal, Pakistan, Palau, Papua New Guinea, Philippines, Samoa, Solomon Islands, Sri Lanka, Thailand, Timor- Leste, Tonga, Tuvalu, Vanuatu, Vietnam, Cook Islands, Niue.
Judging criteria
- Sustainable: Start-ups reduce the waste and/or carbon footprint of goods and services in one or more of the following fields: low carbon mobility, waste prevention, energy efficiency.
- Articulated clearly: Start-ups must have a clear question or problem they will address plus a reasonably specific solution.
- Realistic balance between aspiration and attainability: Start-ups should be able to generate results within 12 months, with a quick start element for the first 3 months.
- Led by a mission driven founder: Are start-ups led by someone with the passion, skills, expertise and network to feasibly execute the concept?
- Impact Business Model: A viable, sustainable business model should be positioned in a defined market.
- Measurable: Can the project develop baseline data and measure impact? Eg. energy, material use, kilometres.
- Sustainable beyond the grant period: The start-up concept should indicate how it will have lasting impact beyond the implementation period.
- Scalable and replicable: Is this an idea that could be expanded on a large scale or replicated in another sector or country?
