Green economy nonprofit organisation GreenCape, in partnership with the City of Cape Town’s Invest Cape Town and The Business Hub, invite innovators and entrepreneurs to enter the 2022 GreenPitch Challenge with economically viable green economy innovation business ideas.

Entries opened on March 14, and will close at 12:00 on March 31.

“One of the means of specifically promoting sustainability innovation is through green economy business innovation. The 2022 GreenPitch Challenge speaks to the need for spurring innovation, and providing a testing ground for entrepreneurs to pilot their business venture,” GreenCape says.

Innovators and entrepreneurs are invited to enter their green economy innovation business ideas to stand a chance of pitching to a panel of esteemed judges at a hybrid networking event, hosted in Cape Town in May. Attendees will network with potential investors, business incubators, local government decision-makers and green economy experts.

“Through our partnership with GreenCape, the city can capitalise on vast opportunities in the green economy. Our innovative partnering model has helped to realise more job and growth opportunities in one of the world’s fastest-growing and most important industries,” says City Of Cape Town Economic Growth MMC Alderman James Vos.

“The green economy has massive potential to attract investment that leads to job creation. Initiatives like these give us a platform to empower businesses and communities to innovate and take action to grow the green economy and thereby, create jobs.”

Enabling green economy business innovation aligns with the City of Cape Town’s Inclusive Economic Growth Strategy in that it seeks to foster the retention and expansion of businesses in Cape Town.

The green economy innovation business ideas of innovators and entrepreneurs have to be positioned within at least one of the green economy sectors, which are the investment opportunities highlighted in GreenCape’s 2021 Market Intelligence Reports.

Entrants' businesses can be based anywhere in South Africa, but need to have a current or planned presence in Cape Town.

The economically viable green economy innovation business ideas must be in the pre-venture stage, namely ideation or conceptual, or pre-growth stage, namely registered and trading or break-even phases of business development.

The judging panel will consider the pre-venture and pre-growth categories separately, and the top five entrants will be selected from each category to make up the top ten finalists. Selected finalists will gain access to the ecosystem of green economy support, GreenCape says.

Finalists will be announced on April 12, and coaching for the pitch event will take place between April 19 and 29. The pitch event will be held on May 5.

Further information, as well as the digital entry form, can be found on GreenCape's website.