Plastic Fantastic Challenge
The Plastic Fantastic Challenge is a European innovation challenge to reduce plastic packaging waste. The best entries are invited to a Bootcamp Program at a central location in Europe in March 2016, where they receive training and coaching to prepare a competitive business plan and get exposure to potential investors.
A great invention that now causes a lot of problems
Plastic is definitely one of the most fantastic inventions in history. Its low-cost design, flexibility, indefinite lifespan, unbreakable structure and low weight helped us design many products that increased our standard of living enormously.
Innovating the plastic packaging industry
Most plastic waste originates from packaging (63%), which is primarily designed for single-use and is discarded straight after. Many industry players and governments show willingness to change, but find themselves with their backs against the wall. Strict requirements from buyers, high consumer expectations and pressure on cost efficiency make it hard for the industry to innovate.
We need systemic change across the plastic value chain to prevent further negative environmental impact. This problem is too large to solve in isolation. Companies, entrepreneurs, academia, knowledge institutes and governments have to take action together to solve the plastic packaging waste issue.
PRIZESBusiness Bootcamp During the pre-selection phase the jury selects 10 teams to participate in the Plastic Fantastic Bootcamp. This Bootcamp takes one week and will take place in acentral European city. This dynamic week will cover all aspects of developing and validating your business concept and is made up of various training dayscovering all aspects of your future business. Traveling and accommodation expenses will be covered! The main goal of the program is to deliver a final business plan and pitch which will be presented to the jury during the final Demo Day. Only one team can be the ultimate winner of the Plastic Fantastic Challenge. The final jury finally selects one team to take the grand prize. This prize consist out of:
Six month membership at Impact Hub
PROCESSThe process diagram below might look very complex, but in fact it is not that difficult. Below each phase will be explained.
|Inspiration: From October 2015 the Plastic Fantastic Challenge platform is open for new business ideas.|
|Idea generation: Show how you think we can reduce the amount of plastic packaging waste through innovative business solutions. Till the 14th of December you can submit as many business ideas you want!|
|Clustering & matchmaking: Now that we have a lot of great ideas, let's team up! Many hands make light work. Together with your team you can bring your idea to the next level in the co-creation phase.|
|Co-creation: During the matchmaking phase, you've set up your team and during the co-creation you get the time to co-create with experts and your business coach.|
|Pre-selection: Said but true, not all ideas can win this challenge. During the pre-selection phase the 10 most promising teams will be selected for the business development phase. The selection is made by a jury consisting out of technology-, business- and innovation experts.|
|Business development: The ten most promising teams in this challenge are invited to the Plastic Fantastic Bootcamp. The main goal of the program is to deliver a final business plan and pitch which will be presented to thejury during the final Demo Day.|