$2 Million Up for Grabs as Milken-Motsepe Prize Opens Applications for Africa’s Circular Economy Innovators
By Passman Akpos
Technology-driven businesses across Africa have been invited to compete for a share of $2 million in prize funding as applications officially open for the Milken-Motsepe Prize in Circular Economy, a global competition aimed at accelerating sustainable business solutions on the continent.
The competition offers a $1 million Grand Prize to the winning company, while the overall prize pool totals $2 million, with additional cash awards for semifinalists, finalists, and the runner-up.
According to the organisers, the prize is designed to identify and support scalable, technology-enabled businesses that are transforming waste into economic value while delivering measurable environmental and social impact across Africa.
Eligible companies are expected to demonstrate commercially viable solutions that reduce waste, keep materials in circulation, strengthen resource-efficient value chains, and create jobs. Businesses operating in sectors including Agriculture and Food Systems, Plastics and Packaging, Electronics, Textiles, and Construction and the Built Environment are encouraged to apply.
To qualify, applicants must have operated continuously for more than two years, generated over $500,000 in revenue and raised capital, established institutional, corporate or public-sector partnerships, and already deployed their solutions within Africa. Organisers also require evidence of social impact, job creation, and readiness to effectively deploy more than $1 million in funding.
The competition will unfold in three stages. Ten semifinalists will each receive $50,000 after the application round. Five finalists will then receive another $50,000 each following a live pitch event before industry leaders and judges. The overall winner will be awarded $1 million, while the runner-up will receive $250,000.
The organisers highlighted the enormous opportunity presented by the circular economy, citing estimates that improved waste management represents a $100 billion global opportunity, while investments in Africa’s circular economy could create approximately two million jobs and help reduce greenhouse gas emissions through closed-loop business models.
Applications are open globally to eligible businesses operating in Africa, with free registration available until August 13.@The Milken-Motsepe Prize seeks to accelerate innovation by connecting participating companies with global investors, industry leaders, and decision-makers, providing not only financial support but also international visibility and networking opportunities.
