The Postcode Lotteries Green Challenge has announced the 25 start-ups that have made it through the first stage of the international competition supporting green entrepreneurs. The start-ups have been selected by a panel of experts from 650 applications to be considered for the grand prize of 500,000 euros to develop their sustainable business. Early September, the five finalists will be announced.
The 25 nominees are from Germany, Great Britain, the Netherlands, Norway and Sweden, countries where Postcode Lotteries are located.
Contribute towards a more sustainable planet
The diverse group of start-ups that have made it into the top 25 includes a sustainable alternative to plastic food packaging which extends shelf-life and reduces food waste, a self-cleaning recovery coil adapted for restaurant ventilation to end the waste of energy and a sustainable design agency creating product and system innovation for a circular economy in fashion. They show the wide-ranging ways in which businesses can contribute towards a more sustainable planet.
A complete overview of all the nominees can be found here.
Half a million euros and six months of expert coaching
The five finalists will be will be made public in September and go on to the final on 30 September 2020. The start-ups will pitch their ideas to an international jury. In the final round, the jury will select the start-up to win the first prize of €500,000 and a runner-up, winning €200,000. The other three finalists will receive €100,000 each. In addition to the prize money, all finalists will also receive six months of expert coaching to optimise their business opportunities.
Last year, the Swedish start-up Swedish Algae Factory won first prize. It grows a special type of algae that is used to make solar panels more efficient and can also be used as a natural ingredient for personal care products.