Recyclepoints Crowned Nigeria’s Winners Of The Venture 2016/2017: Chivas Regal Scotch Whisky’d $1 Million Competition for Social Enterprise
RecyclePoints, an incentive based recycling scheme that deploys the use of electric cargo tricycles, the first of its kind in Nigeria, has been announced as the Nigeria winner of The Venture, Chivas Regal Scotch Whisky’s global competition to find and support the most exciting social enterprises.
Yesterday saw the exciting conclusion to the finals in Lagos, where Chioma Ukonu, Co-founder of RecyclePoints, scooped the N1 million prize money and bespoke business mentoring. RecyclePoints will represent Nigeria in the Global Final in Los Angeles in July 2017, where she will compete with social entrepreneurs from 31 countries across 6 continents for a share of the $1 million in funding to take their business to the next level. Ahead of the Global Final, RecylePoints will also attend The Venture’s Accelerator Week at the Skoll Center-Oxford University, UK in the March where the global finalists will take part in intensive business master classes and receive expert mentoring from some of the biggest and most influential names in business.
Follow the journey at www.theventure.com or join the conversation on Twitter @ChivasRegalNG #ChivasVenture
The Nigeria final, held at the prestigious InterContinental Hotel saw the three shortlisted finalists pitch to a team of industry leaders which included: Audu Maikori (President Choc City Group), Shola Ladoja (Founder Simply Green Juice), Peace Hyde (Award winning journalist and West Africa Correspondent, Forbes), Nneka Okekaru (Deputy Director, Enterprise Development Centre), Olivier Fages (Managing Director, Pernod Ricard Nigeria). RecyclePoints impressed the judging panel with its potential scalability and a solid financial inclusion model.
Accepting the award, Chioma Ukonu, founder of RecyclePoints, admitted: “My partner and I are absolutely delighted to have been chosen as Nigeria’s winners. For us, this initiative offers the incredible opportunity to receive world-class business mentoring and global publicity, which could help us reach reach 1million homes by 2017 and establish our business in an additional five states within the Federation.
Audu Maikori, part of the panel who picked the winner said, “RecylePoints’ business model was really impressive. They have already witnessed an increase of 70% with the introduction of the electric cargo tricycles and their plan to introduce the iRecycle kiosk in the coming year, which will create further jobs for the youth and women around the continent is unique. With The Venture’s support and global platform, the next year for RecyclePoints could be quite incredible”.
The Venture was open to any for-profit start-up that creates both financial value and a positive impact on the lives of others. The three businesses shortlisted to go head to head in the Nigeria final were:
Recycle Points (Chioma Ukonu, Founder), WINNER
– The service: Recycle Points is an incentive based recycling scheme that recovers numerous valuable materials disposed by consumers through a model built around a community-based waste processing enterprise called CoSoHUB (Collection and Sorting Hub). The RecyclePoints scheme deploys the use of Electric Cargo Tricycles manned by employed youths (WasteBusters), who embark on a door-to-door collection of recyclable waste from registered subscribers in their iRecycle Network. Subscribers are then rewarded based on their points for discarding their recyclable waste.
– Social impact: With a unique business model that confronts the waste disposal crisis in the country and aims to reduce the impact of unsanitary waste disposal, RecyclePoints’ community based incentive scheme creates jobs for the unemployed youth and women within its operating areas.
Eco Future (Destiny Frederick, Founder)
-The service: Eco future is an innovative recycling scheme that utilizes a smart sensor waste bin, geomap and SMS technology for the collection of of recyclable waste from household residents, government and business establishments. Waste is collected and channeled to a recovery facility where they are sorted in a compactor machine, packaged according to customer specifications and delivered through a third party logistics company.
– Social impact: Offers low income communities the opportunity to capture value from recycling their waste through incentives
MOBIcure (Charles Immanuel, Co-founder)
– The service: A social enterprise start-up creating solutions that uses mobile technology devices and tools such as phones, tablets, SMS, apps, Interactive Voice Recordings (IVRs) and videos to solve some of the most pressing health issues plaguing developing countries including: poor immunization coverage, high maternal and child mortality and poor health access.
– Social impact: OMOMI, the mobile platform enables mothers easily monitor their children’s health, as well as provides access to specific and life-saving maternal and child health information plus medical expertise, reducing child mortality rates.