The Milken-Motsepe Prize in Circular Economy is an entrepreneurship competition designed for innovative African businesses. This prize celebrates companies that use technology to strengthen circular economy practices across various sectors. Backed by the Milken-Motsepe Innovation Prize Program, this competition represents a particularly significant funding opportunity for African startups. With a total prize pool of $2 million, it aims to accelerate concrete and sustainable solutions across the continent. This article details the eligibility criteria, prizes, and application process.
Many African companies are already developing innovative business models but struggle to find funding suited to their growth. That’s why this competition for African startups seeks to fill this gap by supporting businesses with strong scalability potential. In addition, it offers valuable support through meetings with decision-makers and industry leaders.
Background and Goal of the Competition
The Milken-Motsepe Prize in Circular Economy targets technology companies operating in Africa within the circular economy space. The goal is simple: identify viable business models that reduce waste and keep materials in circulation. Participating companies must demonstrate measurable environmental and social impact, while relying on more resource-efficient value chains.
Participating teams will be evaluated based on several specific criteria. These include commercial viability, market scalability potential, social impact on the workforce, as well as circularity and environmental impact. As such, this entrepreneurship competition doesn’t only reward technological innovation, but also the strength of the business model itself.
Several industries are covered by this initiative. Organizers encourage companies from different sectors to submit their applications, provided they can supply indicators specific to their category.
Eligibility Criteria
To take part in The Milken-Motsepe Prize in Circular Economy, companies must meet precise requirements set out by the organizers. However, the source does not detail all of these criteria in full; it is therefore recommended to check the official competition portal for the complete list of requirements. Generally speaking, eligible companies are those operating in Africa and offering a technology-based solution related to the circular economy.
- Company operating in Africa in the circular economy sector
- Commercially viable and technology-driven business model
- Demonstrated ability to reduce waste and promote material circularity
- Ability to provide industry-specific indicators as required
Prizes and Funding
This competition offers a particularly attractive funding opportunity for African startups, with a total prize pool of $2 million. The competition unfolds in several stages, each accompanied by financial rewards.
- Ten teams selected as semi-finalists will each receive $50,000
- Five finalist teams, chosen after pitching before a jury, will also each receive $50,000
- The grand prize-winning team will take home $1 million
- The runner-up team will receive $250,000
Beyond funding, participants benefit from a valuable mentorship opportunity through an exclusive network. Teams thus have the chance to pitch their projects directly to industry leaders and key decision-makers.
Application Deadline
The available source does not specify an exact application deadline. However, it is advisable to sign up for the program’s newsletter to stay informed about precise deadlines and schedule updates.
How to Apply
The application process for The Milken-Motsepe Prize in Circular Economy takes place in several successive phases. Initially, teams submit their concepts and business models. Afterwards, ten semi-finalist teams are selected to present their projects at a pitch event in front of a panel of judges.
Selected finalists must then submit additional documents for the grand prize by logging into the competition’s dedicated portal. This portal contains the complete detailed rules of the competition. To stay informed about every stage of the program, applicants can also subscribe to the organizers’ newsletter.
Other Funding Opportunities for African Startups
African entrepreneurs can also discover other competitions and support programs.
📌 See all calls for projects for entrepreneurs (in French)
📌 Check out opportunities in English
Conclusion
The Milken-Motsepe Prize in Circular Economy represents a unique opportunity for African circular economy businesses to gain visibility and funding. Organized by the Milken-Motsepe Innovation Prize Program, this competition combines substantial financial rewards with strategic support from industry leaders. Interested African entrepreneurs are encouraged to closely follow program updates and start preparing their applications now.