Plastics are a key part of the global economy. They are used in all facets of daily human life from packaging food, to healthcare, communication and entertainment. However, they are also a driver of environmental depletion, climate change and poor public health. This is because of the linear industrial model of take-make-use-dispose that drives the plastics industry. This model extracts natural resources, releases toxic waste into the environment and leaves unused plastics material accumulating in the environment, destroying the ecosystem without contributing to its regeneration or continuity. This model is unsustainable and requires urgent collective global action in order to achieve the Sustainable Development Goal 12 on sustainable consumption and production patterns.
Global production of plastics has increased by more than twenty-fold between 1964 and 2015, with an annual output of 322 million metric tonnes (Mt). It is expected to double by 2035 and almost quadruple by 2050.
PET (polyethylene terephthalate) is the most commonly used plastic material for consumer products such as beverages, food and cosmetics. It is therefore synonymous with plastic waste. The plastic waste value chain begins at waste creation when consumers dispose of containers and ends at re-use as a new product. The entire process of generating value at a systemic level involves consumers, recyclers, manufacturers, policy-makers, academia and innovators in order to create a new circular economic model that becomes the global norm. Through the circular value chain, waste, thought of as a cost-centre as it requires resources and effort in order to dispose, is converted into a product that delivers value to users.
- The competition is open to Individuals or organizations from anywhere in the world.
- We welcome solutions that are at pilot and/or post-revenue stage.
- Solutions that have applicability in locations other than Nigeria are allowed. However, for this competition the solutions are only to be implemented in Nigeria.
- Applicants from private sector, academia and civil society can submit solutions.
- The competition only allows one submission per applicant/venture. An applicant is either an individual or registered entity.
What You Get From This Competition
Development, submission and pitching of business case for expansion. $10k funding support per team to prototype with the potential for a commercial contract upon success with potential commercial opportunity in excess of $10m