Australian StartCup Challenge

What is the Australian StartCup Challenge?

The Nespresso’s Australian StartCup Challenge is an initiative which aims to enhance the circular economy and its goal of recycling materials otherwise destined for landfill.

 

Background

Nespresso is launching the Australian Startcup challenge to propel the move towards sustainability and inclusion in business.  

In terms of its impact on society and the environment, our existing economy is at its limit. Moving away from the linear economy and toward the circular economy is what we need.

 

Objectives

The Australian StartCup Challenge aims to:

  • raise awareness of circular initiatives
  • introduce long term circular innovations to the Australian public
  •  nourish the the B Corp™ movement

 

Funding

The winner will receive:

  • AUD $50,000 in cash to develop their project.
  • A Nespresso Momento Small Office Starter Pack to inspire their creation.
  • Access to for up to four team members to attend the Become a B Corp workshop led by B Lab Australia, Aotearoa and New Zealand to support the winning business on their journey to becoming a certified B Corp.

Runners up will receive:

  • AUD $1,000 in cash
  • One Vertuo Next machine & Aeroccino3
  • One bulk recycling kit
  • One Nespresso Gourmet selection 100 capsule assortment box

 

Eligibility

The competition is open to Australian SMEs and start-ups who have an ABN.
There is no criteria for belonging to a particular sector.

Interested participants are invited to submit their ideas from 10 August to 4 September, 2022. Participants should be aged 18+ and have authority to enter this promotion on behalf of their business. 

 

How does the challenge/competition work?

Interested participants are invited to submit their ideas from 16 August to 11 September. There is no requirement for a certain industry affiliation. The submitted projects will be evaluated by a jury composed of expert judges involved in the field of innovation and sustainable development, from different sectors. The jury will select a shortlist of three finalists, and then the public will vote to elect the overall winner. An awards ceremony will take place on November 3rd in Sydney, where the three finalists will be invited to attend.

 

Challenge/Competition Criteria

Three main criteria will be looked at by the jury to select the finalists:

  1. The company/initiative belongs to one of the six circular business models.
  2. The company/initiative is highly innovative when approaching the circularity thinking.
  3. The company/initiative has potential to succeed and scale up to a have a major impact

Non-exhaustive examples of criteria that will be assessed:

  • Innovation: How innovative is the proposed business model?
  • Realisation: Is the team cohesive and well structured?
  • Expansion: Does the business model have a potential for growth?
  • Impact: Does the business consider impact on employees, community, environment, governance and customers?
  • Circularity: Can the business model be considered as an enhancer of circularity?

 

Timing

Applications close 11 September 2022.

 

More Information

 

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