KPMG’s Nature Positive Challenge is now in its second year. The prize pool has grown, and environmental start-ups from Papua New Guinea and Fiji can now participate.
KPMG, a company that provides professional services, has brought its Nature Positive Challenge to the South Pacific. New businesses in Australia, Papua New Guinea, and Fiji working to protect wildlife and the seas could share $400,000 worth of prizes and services.
Last year, the first Nature Positive prize was given, and ULUU from Western Australia won $100,000 as the most influential business.
Based on last year’s Challenge, this year’s theme is focused on two key environmental areas: “Biodiversity,” for companies that “accelerate the protection, preservation, and regeneration of all species and living things on earth,” and the “Blue Economy,” for companies that “encourage the sustainable use of oceans and marine resources to support economic growth and community prosperity while preserving the health of blue ecosystems.”
Start-ups working on ideas, technologies, and solutions in the given areas can express interest. Five of them will share a pool of $250,000 worth of consulting, tax, and accounting services to help them grow their businesses.
Those chosen will again fight for the grand prize of $100,000. This year, KPMG has also added a “People’s Choice” prize of $50,000, which staff votes will decide.
Last year’s winner, ULUU, has made an option to plastic from seaweed that can be grown sustainably. Co-founders Julia Reisser and Michael Kingsbury said the win was a turning point for their business.
This program not only gave our sustainability claims more weight, but it also put us in touch with a lot of new customers and providers, which will help us grow,” said Reisser.
In addition to the financial incentives and consulting and service support, the five chosen participants will also have the chance to meet with industry, business, science, knowledge, community partners, and potential investors. After the Nature Positive Challenge winner is announced in June, the five selected participants will also have the chance to pitch their ideas at a pitch event and later show off their work. There is still time to show interest until April 28.
When our economies, ways of making a living, and well-being all rely on nature, KPMG Australia CEO Andrew Yates said, “We need to work in harmony with the environment as part of our business practices to ensure we have a sustainable future.” “
Last year’s Challenge showed how many innovative Australian businesses are working on solutions to complex and ongoing environmental problems that will have a big effect.