FAMAE, a family-run foundation renowned for supporting innovation in the field of environment, has announced the 2021 edition of its Sustainable Innovations Challenge.
The contest aims to support innovative and concrete solutions to fight against climate change, everywhere in the world, around waste, water, food, habitat, energy, and mobility.
The FAMAE Sustainable Innovations Challenge is open to anyone, anywhere. Whether you are an entrepreneur, SME, student, researcher, or association, you are invited to apply as long as you have solutions for a more sustainable and responsible world in view of current environmental and health crises.
Why the Challenge?
The objective of the FAMAE endowment fund is to promote innovation for the environment, by identifying and financing effective, sustainable, and universal solutions to practical problems in the daily lives of hundreds of millions of people.
These solutions help them save money while reducing their environmental footprint. To this end, FAMAE launches a global environmental innovation contest every year.
Details of the funding
One or more outstanding projects will be rewarded with a total of €1,000,000 prize This funding shall be used for expenditures related to the project (i.e product development costs, wages, marketing expenses).
The Awardee(s) will receive funding from the Sponsor to cover Project-related expenses such as IP protection, patent filing, product / industrial design, 2D / 3D blueprint making, prototyping, manufacturing, shipping, marketing, monitoring, IT, incorporating a legal entity.
This funding will, if necessary, cover third-party costs or salaries. Legally speaking, the funding will either be a grant, an equity injection, or a loan (with or without reimbursement).
Note that if the candidate has chosen a philanthropic status (i.e IP related to the Project is made available to anybody, free of charge) then the funding will occur mostly as a grant.
On the contrary, if the candidate has chosen another status (i.e IP related to the Project is not made available to everybody free of charge), then the funding will occur mostly as a mix of equity injection and loan (with or without reimbursement).
Solutions proposed by a Candidate, be it an idea or an existing product or service must:
- Be innovative
- Be concrete enough to reduce the environmental footprint of human activity around the world.
- The FAMAE Sustainable Innovations Challenge is open to any individual, educational institution, a governmental/regional/local organization, a for-profit organization, or a not-for-profit organization.
- Individuals or entities must not register more than once (for example, by using a different username/email). Multiple registrations for an applicant using multiple identities is a ground for disqualification.
- Famae Team members nor Jury members do not qualify to participate either directly or indirectly with any candidate submitting a project.