Three organisations from the UK have made the shortlist for the international Postcode Lottery Green Challenge.
Twenty-five start-ups in total from 845 applications have made it through the first stage of the international competition, which supports green entrepreneurs. The top prize in the Postcode Lottery Green Challenge is €500k to develop their sustainable business.
The UK is represented by BioCarbon Engineering, which has come up with a method of tree-planting to combat deforestation, and Phytoponics and LettUs Grow, which both developed new ways of growing food to reduce its carbon footprint.
The international competition saw applications from over 100 countries. The group includes plans to stop plastic reaching the sea, to make storage of renewable energy more efficient, and to combat water scarcity around the world.
The five finalists will be announced in mid-August, and will then present their pitches to a jury on 13 September in Amsterdam, where the winner will be announced. Along with the grand prize of €500k for the winner, there will be a €200k prize for the runner up and €100k for each of the other finalists. In addition to the prize money, all finalists will receive over six months of expert coaching to optimise their business opportunities.
Jacquelien Bunt, Deputy Head of Charities at the Dutch Postcode Lottery and Chair of the preliminary jury, said:
“Postcode Lottery Green Challenge shows that you can make money with a company that contributes to the planet. I am incredibly impressed with the top 25 – some are really revolutionary, and some show how feasibility and scalability can make all the difference. I’m looking forward to continuing the journey with them!”
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