African businesses working in the circular economy space now have a compelling opportunity to compete for a share of $2 million in total prize funding (About R34 million), including a $1 million Grand Prize (about R17 million). The Milken-Motsepe Prize in Circular Economy is a prestigious innovation competition calling on scalable, technology-driven companies across Africa to demonstrate how circular economy practices can reduce waste, keep materials in circulation, and drive measurable environmental and social impact.
Beyond the prize money, participating companies gain access to exclusive networking opportunities, the chance to pitch their innovations directly to industry leaders as well as valuable exposure that can be just as valuable as the funding itself.
The Objective of the Milken-Motsepe Prize
The prize seeks to identify and reward commercially viable, technology-enabled circular economy businesses operating on the African continent. The winning company must demonstrate not only a viable business model but also a clear and credible path to scaling their solution.
Evaluation will be based on four key pillars:
- Commercial viability
- Market scalability
- Workforce and social impact
- Circularity and environmental impact
Companies from a broad range of industries are encouraged to apply, and applicants will be required to submit category-specific metrics relevant to their sector.
Target Industries
The prize is open to businesses operating across the following industries:
- Agriculture and Food Systems
- Plastics and Packaging
- Electronics
- Textiles
- Construction and The Built Environment
This breadth reflects the wide-ranging opportunities for circular economy innovation across Africa, from food waste reduction and sustainable packaging to e-waste management and green construction.
Eligibility
To qualify for the Milken-Motsepe Prize in Circular Economy, your company must meet the following requirements:
- Over 2 years of continuous operation
- Over $500,000 in revenue and/or raised capital
- Institutional, corporate, and/or public-sector partnerships
- Solution currently deployed on the African continent
- Clear evidence of social impact and job creation
- Demonstrated operational readiness to deploy $1M+ in funding
These criteria make it clear that this prize is aimed at businesses that are past the idea stage — applicants must already be operational, generating revenue or capital, and capable of deploying significant funding responsibly.
What Does the Milken-Motsepe Prize Offer?
The competition is structured across three award rounds, with prize money distributed at multiple stages:
Round 1: Application Submission and Semi-finalist Announcement
Teams submit their designs and business models for evaluation. Ten teams will be selected as Semi-finalists and each receive $50,000.
Round 2: Pitch Event and Finalist Annuncement
Semi-finalists pitch their innovations to a panel of industry leaders and decision-makers. Five teams will advance as Finalists, each receiving a further $50,000.
Round 3: Grand Prize Submission and Announcement
Finalists submit their materials for the Grand Prize round. The overall winner takes home the $1 million Grand Prize, and the runner-up receives $250,000 (about R4,2 million).
Why This Prize Matters
In total, the prize distributes up to $2 million across Semi-finalists, Finalists, and the Grand Prize winner. This staged approach means that even companies that do not win the Grand Prize walk away with meaningful funding and invaluable industry exposure.
The circular economy represents one of the most significant growth opportunities on the African continent. Consider the scale of the challenge and the opportunity:
- Global waste management costs are estimated at $100 billion annually (UNEP 2024 Global Waste Management Outlook).
- Investments in the circular economy in Africa could create approximately 2 million jobs (African Development Bank).
- Switching to closed-loop business models could reduce greenhouse gas emissions in Africa by up to 1% (Ellen MacArthur Foundation).
For South African entrepreneurs in particular, this prize represents an international platform to showcase innovation that addresses real challenges — and to compete for transformative funding on a global stage.
The Competition Process
As part of the journey to the national finals, all Top 10 finalists will gain access to a Standard Bank Enterprise and Supplier Development pitching masterclass. This is designed to help participants sharpen their business models, storytelling, and presentation skills ahead of the finals — a significant value-add beyond the prize money itself.
The Competition Process
The Milken-Motsepe Prize follows a structured three-round process:
The Standard Bank Kasi SME Pitch Challenge follows a structured process across two stages:
- Companies submit their business model and relevant metrics through the Prize Portal. Ten Semifinalists are selected, each receiving $50,000.
- Semi-finalists present their innovations to judges from industry and investment. Five Finalists are chosen, each receiving a further $50,000.
- Grand Prize Roundwhere finalists submit final materials. The Grand Prize winner receives $1 million, and the runner-up receives $250,000.
To Apply
Applications are now open. Interested companies should visit the official application portal at portal.milkenmotsepeprize.org to sign in and apply. For complete prize rules and submission guidelines, visit the Prize Portal directly.
For full details on the prize, including FAQs and eligibility specifics, visit the official prize page at milkenmotsepeprize.org/circular-economy.
Conclusion
The Milken-Motsepe Prize in Circular Economy is one of the most substantial funding opportunities available to African businesses operating in the sustainability and circular economy space. With $2 million in total prizes, a structured multi-round format that rewards companies at each stage, and direct access to decision-makers and industry leaders, this competition offers far more than just prize money.
For businesses that are already operational, generating revenue, and committed to driving environmental and social impact through circular practices, this prize is worth pursuing seriously.
Further Information
One of our core objectives at Business Geniuses is to empower small businesses and startups by curating funding opportunities as they arise. Visit our Funding section for other opportunities that may be open for applications.
While formal company registration is not always a prerequisite for accessing funding, it is crucial for formalised entities to maintain compliance. A lack of proper governance can completely hinder any prospects of funding. For guides and articles on governance, please refer to the Governance section of our site.
