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Top carbon-cutting idea can win £430,000

£430,000 is up for grabs in a competition to find the next big carbon-cutting innovation.

Green entrepreneurs are encouraged to apply for the Postcode Lottery Green Challenge, that runs until July 17.

The global competition looks for business plans for products and services that can reduce the amount of Co2 in the atmosphere.

Entries must be ready for market within two years, and the winning business idea will be awarded £430,000, along with support from industry experts.

Sir Richard Branson, a supporter of the competition since its conception in 2007, said: “The Postcode Lottery Green Challenge is about using that innovation to make a real difference to climate change and we are calling on all British entrepreneurs to enter the competition.”

The competition is in its seventh year, and this year was launched by 2009 runner-up, Robert Matthams, managing director of Shiply.com, an online company that marries empty haulage space with demand.

Robert said: “The UK has a relentless drive to create, innovate and tackle the large underlying environmental problems we face today. However, entrepreneurs are often unable to raise the necessary funding or make the required industry connections to really make things happen at scale.

“The Green Challenge offers a fantastic platform for entrepreneurs, providing access to unrivalled contacts and valuable resources that can help make a huge difference to their idea and the environment, and I am forever grateful for their support towards Shiply.com.”

A panel of judges, including Sir Richard Branson, will assess the entries and select a handful of finalists to present their ideas to international experts in Amsterdam, in September.

Entries are measured on their ability to help reduce Co2 emissions in a range of categories including ICT, lifestyle, design, energy and mobility. Applications are open from today and submissions can be made here.

This was posted in Bdaily's Members' News section by Tom Keighley .