The organisers of the Invest Cape Town and the Business Hub GreenPitch Challenge 2021 have identified ten innovators and entrepreneurs with economically viable green economy innovation business ideas to pitch those ideas to a panel of expert judges at a virtual event on February 10.
"The entrepreneurs will have the opportunity to interact with potential investors, business incubators, local government decision-makers and green economy experts. The judging panel is made up of local and international investment and innovation experts representing the City of Cape Town, Western Cape Department of Economic Development and Tourism, the South African Renewable Energy Business Incubator, EdgeGrowth, PwC and the Solar Impulse Foundation," says green economy solutions non-profit GreenCape.
The entries had to be positioned in at least one of the green economy sectors and aligned with identified investment opportunities highlighted in the 2020 GreenCape Market Intelligence Reports.
The top ten business ideas include the Eco-V GreenTower, Go-Lectric, the Hyena Power Pack, Kudoti, Regenize, SOG Water Solutions, The Compost Kitchen, Ubuhlebezwe waste solutions, the WaterKiosk, and the Zerho Waterless Toilet. The initiatives are a partnership between the City of Cape Town and GreenCape.
As part of the journey towards resilience, GreenCape and Invest Cape Town offer their support to innovators and entrepreneurs in the green economy landscape. The winner of the Invest Cape Town and Business Hub GreenPitch Challenge 2021 will be awarded with in-kind business support through GreenCape.
“The green economy has massive potential to attract investment that leads to job creation. This is why the City is proud to partner with and, through the Enterprise and Investment Department, fund GreenCape. Sustainability innovation reflects the next generation of economic development thinking,” says City of Cape Town Economic Opportunities and Asset Management MMC Alderman James Vos.
“It combines environmentalism's protection of natural systems with the notion of business innovation while delivering essential goods and services that serve the social and economic goals of the City of Cape Town. Key to the city’s Draft Inclusive Economic Growth Strategy post Covid-19 is empowering businesses and communities to innovate and take action to grow the green economy and thereby, creating jobs,” he adds.
The 2021/22 edition of the challenge builds on the 2018 and 2019 greentech innovation challenges hosted by GreenCape, the Friedrich Nauman Foundation for Freedom and the City of Cape Town.