Six entrepreneurs have emerged as winners of the 2022 Circular Lagos Challenge supported by the German Development Cooperation (GIZ), to unearth innovative solutions to waste challenges affecting the different sectors of the economy.
The ‘Circular Lagos’ is a project launched by Lagos State that seeks to grow the market for ‘Circular Economy’ businesses in ways that benefit producers, consumers, and communities across Lagos.
The challenge brought together industry players such as BASF, Sweepsmart, Coca-Cola and Growing Businesses Foundation, Nigerian Breweries Plc., Food and Beverage Recycling Alliance, and New Generation Nutrition (NGN) towards engaging entrepreneurs in the Circular Lagos Challenge to provide solutions to waste challenges affecting the different sectors of the economy.
The winners, who emerged at the end of the pitch session, were: Babatunde Adebayo of Eco Circular Solutions Provider; Joshua Attat of Lyvin; Sunday Sholanke of PETsPoint Technology Limited; Doyinsola Ogunye of Mental and Environmental Development Initiative for Children; Taiwo Adewole of Wastexchange Limited; and Gbenga Olasehinde of Stylus-Simplex Design. Each of these entrepreneurs emerged as the winner in their respective challenge categories.
Speaking at the event, the Chief Executive Officer of Nigeria Climate Innovation Centre, Bankole Oloruntoba, said the idea of the initiative was to create an ecosystem that is functional, structured, and can create access to finance export and jobs.
“The whole idea for us is, how do we stimulate and kick-start the Lagos circular economy from a more structured perspective? There are a whole plethora of opportunities when you look at the different value chains of waste in Lagos State.
It is a seamless opportunity for the winners to get into a more corporate structure to provide waste recycling solutions. The owners of the challenges will continue to work with the Small and Medium Enterprises and move them forward. There will be a few additional financial supports for those businesses to be able to jumpstart the different ideas they have.”
The Executive Director of Circular Economy Innovation Partnership, Nathalie Beinisch, said the programme is where large organisations and companies have articulated challenges, while entrepreneurs present their solutions.
She said seven of the 12 SMEs that made it to the finals will go through a six months LoopLab Incubation programme where they will be supported to develop their business plans and secure funding to implement their different solutions.
Representative of GIZ Nigeria, Jennifer Seydel, commented that the 2022 Circular Lagos Challenge seeks to grow the market for circular economy businesses in ways that benefit producers, consumers, and communities across the state to stimulate local economic growth and create meaningful job opportunities for Lagos State.
