The Milken-Motsepe Prize in Circular Economy is calling on scalable, technology-enabled companies operating in Africa to apply for one of the continent’s most significant circular economy prizes. The competition offers $2 million in total prizes, including a $1 million Grand Prize, alongside exclusive networking opportunities and the chance to pitch directly to industry leaders and key decision-makers.
The prize is looking for commercially viable businesses that reduce waste, keep materials in circulation, and deliver measurable environmental and social impact through stronger, more resource-efficient value chains. The numbers behind this prize tell their own story — waste management costs the world $361 billion annually, investments in the circular economy could create up to 11 million jobs across Africa, and switching to closed-loop business models could reduce greenhouse gas emissions on the continent by up to 30%.
Prize Structure
The competition runs across three award rounds:
Round 1 — Application Submission and Semifinalist Announcement: Teams submit their business models and designs. Ten semifinalist teams are selected and each receives $50,000.
Round 2 — Pitch Event and Finalist Announcement: Semifinalists pitch their innovations to industry leaders and a panel of judges. Five finalist teams are selected and each receives an additional $50,000.
Round 3 — Grand Prize Submission and Announcement: Finalist companies submit materials for the grand prize round. The winning team receives $1 million and the runner-up receives $250,000.
Industries and Focus Areas
Teams from a variety of industries are encouraged to apply, with category-specific metrics required at submission. Focus areas include:
- Agriculture and food systems
- Plastics and packaging
- Electronics
- Textiles
- Construction and the built environment
Who Can Apply:
- Companies with over two years of continuous operation
- Companies with over $500,000 in revenue and raised capital
- Businesses with institutional, corporate, or public sector partnerships
- Solutions currently deployed on the African continent
- Companies with clear evidence of social impact and job creation
- Organisations with demonstrated operational readiness to deploy $1 million or more in funding