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Africa's $2M Circular Economy Prize Fuels Innovation
15 Oct
Summary
- Prize offers $2 million in non-dilutive capital for circular economy innovations.
- Ten semifinalist companies across Africa are competing for the award.
- The grand prize winner will receive $1 million at a Los Angeles conference.
The Milken-Motsepe Prize in Circular Economy is distributing $2 million in non-dilutive capital to foster innovation and global visibility for entrepreneurs. This initiative supports companies developing resource-efficient and regenerative models tailored for Africa.
The prize aims to support entrepreneurs transforming resource efficiency into market competitiveness and scalable growth. With growing demand for compute power and disruptions in supply chains, circular models are vital for industrial competitiveness and stable employment.
Ten semifinalist teams from across Africa are vying for the prizes. Their solutions range from upcycling glass and converting plastic waste to creating organic fertilizers and biodegradable packaging from agricultural residues.
Judging criteria include commercial viability, market scalability, workforce, social impact, and environmental impact. A $1 million Grand Prize will be awarded at the 2027 Milken Institute Global Conference in Los Angeles, with a $250,000 Runner-Up prize.
The program has supported innovators since 2023, with over 85 percent of entrepreneurs based in Africa. It has successfully catalyzed significant follow-on funding and capacity-building for participants.
