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UK entrepreneurs invited to apply for €500,000 green start-ups fund

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UK entrepreneurs are invited to apply to win up to €500,000 and a place on a six-month bespoke accelerator programme through the Postcode Lotteries Green Challenge (PLGC).

The competition is one of the world’s largest in sustainable entrepreneurship and is open to green-start-ups and entrepreneurs based in the UK. PLGC rewards start-ups from the UK, the Netherlands, Norway and Sweden that successfully combine sustainability and creativity with strong business acumen to help tackle some of the world’s most pressing environmental challenges.

In 2014, a UK-based company that recycles coffee for consumer and industrial markets, called bio-bean, won the top prize. George May, director and CCO at bio-bean said: “Winning PLGC was a springboard for bio-bean.

“The funds and business coaching helped us to expand our team and industrial facilities, not to mention the media attention and further investment interest we received off the back of winning the competition.

“PLGC is a fantastic opportunity for green start-ups looking to scale-up their operations.”

The competition awards €500,000 to the overall winner while the runner-up receives €200,000 and three other finalists receive €100,000 each. Former jury members have included Dame Ellen MacArthur, founder and chair of trustees at the Ellen MacArthur Foundation, and Sir Richard Branson, founder and chair of Virgin.

“If you believe you have a solution to one of the biggest problems facing the planet and would like to join world-class alumni, I urge you to enter this year’s PLGC,” said People’s Postcode Lottery managing director Clara Govier.

“We recognise the time constraints that many entrepreneurs face and so we have made the application process quick and free to enter. I also encourage you to sign up to our webinar to ask any questions you have and to ensure your application has the strongest chance of succeeding.”

The winner in 2019 was Sofie Allert, CEO and founder of Swedish Algae Factory. Founded in 2014, the company cultivates algae that enhances solar panel efficiency and can be used as an ingredient in sustainable personal care products.

Applicants have until 1 April 2020 to submit a short business plan outlining the description of the environmental issue(s) their business is tackling, their solution to the problem, the business’ USP and financial projections, along with a short video pitch. There are no fees for submitting applications. Details can be found at www.greenchallenge.info.