Deadline: March 1, 2023
The Milken-Motsepe Prize 2023 in Green Energy
The Milken-Motsepe Prize in Green Energy is incentivizing entrepreneurs who have ideas for solutions to advance progress toward UN Sustainable Development Goal (SDG) 7: Ensuring access to affordable, reliable, sustainable and modern energy for all.
The aim of the Milken-Motsepe Prize in Green Energy is to reward innovators who expand access to reliable, affordable, and sustainable electricity in Africa. Energy access is a key driver for long-term economic growth and shared prosperity. The prize offers $2 million in prizes and additional benefits, including a $1 million grand prize for the winning team and $1 million in additional prize money. Participating teams will also receive access to networking, training, and other resources.
- Winning teams will demonstrate the ability to deploy distributed green energy solutions at scale in Africa, with the goal of dramatically expanding access to reliable electricity. Teams should make use of new technologies or should adapt existing technologies in innovative ways to generate at least 60 kWh of off-grid electricity daily (24 hours) using green energy sources.
- The winning team will receive a $1 million grand prize.
- In addition to the chance to win cash prizes, the Milken-Motsepe Innovation Prize programme provides a rich set of opportunities for entrepreneurs, both during the competition and beyond.
- Open to anyone, anywhere.
- Participants can be a single individual or a team of individuals, including formally incorporated businesses.
- Young people, including minors, are welcome and encouraged to participate. However, all participating individuals under the legal age of majority in their primary residence must have an adult of legal age sign legal documents on their behalf.
- Design Round: Teams submit their designs and business models. An independent panel of expert judges will select 20 teams to advance in the competition to be semi-finalists. Each semi-finalist team will then receive $20,000 to test their ideas.
- Semi-Finalist Round: Teams perform a real-world demonstration of their innovation and collect data on its performance. A panel of judges will select 5 teams to receive $70,000 each in additional funding and advance in the competition to become finalists.
- Finalist Round: Teams will submit final submissions and judges will assess and choose a grand prize winner. The winning team will receive $1,000,000 and a runner-up will receive a $250,000 prize.