The Postcode Lottery Green Challenge is the largest annual worldwide competition for sustainable entrepreneurs who can instigate change. It is an effort of the Dutch Postcode Lottery to bring smart and innovative green products and services to the mass market and thereby helping to combat climate change. The competition aims to identify a product or a service that will reduce greenhouse gas emissions and is capable of being brought to the market within two years. People from all over the world can submit their sustainable business plan.
The eighth edition of this Postcode Lottery Green Challenge is now open for sustainable start-ups from all over the world. The winner of the international competition will receive 500,000 euro (680,000 USD) to develop and bring to market his or her product or service. People from all over the world can submit their sustainable business plan through 3. June at www.greenchallenge.info. Over the past seven years the Green Challenge has helped to advance several valuable, innovative green ideas. This year U.S. and global finalists are urged to submit their business plans, ranging from renewable energy innovations to breakthroughs in sustainable materials.
Winners in previous years
The United States have been well represented over the years. Ginger Dosier won the competition in 2013. Her company bioMASON ‘grows’ bricks for use in building construction. The American Molly Morse won the 2012 grand prize for Mango Materials, a company that uses bacteria to turn methane into biodegradable plastic. In 2010, the American Scot Frank won for his low-priced, multi-purpose portable solar collector Solsource. In 2008, Eben Bayer of the United States won for his natural insulation material @Mushroom Materials.
To be eligible for the Green Challenge, a product or service must reduce greenhouse gas emissions and it should be possible to be in the market within two years. Every entrant sends in a detailed business plan. Entrepreneurs can register (free of costs) at www.greenchallenge.info until 3 June 2014 at 5:59 a.m. ET (11:59 CEST). One of the questions asked when entrepreneurs enter the competition, is to create an elevator pitch. An elevator pitch is a short clip of their business pitch, recorded in the time it would take them to convince a possible investor of the business plan whilst they are both in the same elevator. The goal of every entrant is to make their business plan work. To make that happen, they will need support. Financial, as well as creative and inspirational support.
Ideas that pay
The winner will receive 500,000 euro (680,000 USD) to help bring his or her plan to the market. An additional 200,000 euro (272,000 USD) will go to one or two runners-up. The 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. The jury will select five to seven finalists in August. On 11 September they will present their plans before the jury, public and the press at an event in Amsterdam. In August 2014, the winners will be announced on www.greenchallenge.info, Twitter and Facebook. If you want to be one them, register now and submit your business plan at www.greenchallenge.info