KPMG’s environmental start-up challenge back for another round
The Nature Positive prize established by KPMG is back for another round, this time with a focus on the regenerative economy and sustainable food systems and a call-out to First Nations start-ups.
Now into its third cycle, the Nature Positive prize aims to champion and support innovative eco-start-ups from Australia, Fiji and Papua New Guinea in building scalable enterprises which have a positive impact on nature and the environment.
In total, a $370,000 pool of prize money and consulting, tax and accounting support services is up for grabs for the five selected participants, including a $100,000 cheque awarded to the winning venture by a panel of expert judges.
Open from now until to the 8th of November, KPMG is calling for submissions from start-ups working on nature regeneration, including those tackling deforestation and biodiversity loss through carbon credit infrastructure and restoration projects, and others helping to track or prevent food waste by promoting sustainable agriculture and responsible production and consumption practices.
“Nature positive has now entered mainstream corporate consciousness and increasingly influences how businesses operate, and our challenge focuses on two fast-growing sectors within the ecosystem,” said KPMG chief Andrew Yates, who further spoke on the importance of engaging and tapping the knowledge of Indigenous communities in the fight against environmental degradation.
“The new category for First Nations startups reflects that these communities, through traditional knowledge and practices, continue to play a leading role in promoting a harmonious relationship with the land and to innovate to protect our ecosystems. We also want to recognise the growth potential of Indigenous businesses to the Australian economy and contribution to our environment.”
The five selected participants will share in $250,000 worth of support from specialist KPMG teams in an effort to take their ideas to the next level, while also gaining access to influential decision-makers within the industry, science and impact investment communities. In addition to the grand prize, a $20,000 ‘people’s choice’ award will also be issued, as voted on by KPMG staff.
Positive impact
The two past winners have included Western Australia-based plastic alternatives biotech Uluu, which has gone on to raise $8 million in seed funding and collaborate with surf-brand Quiksilver on a seaweed-made wax comb for their board-shorts, and cloud-based AI and data-driven biodiversity platform Xylo Systems, which is now on track to hit the $1 million revenue mark next year.
“Winning the challenge was a game-changer for us,” said Xylo co-founder and CEO Camille Goldstone-Henry. “The funding accelerated the launch of our platform, positioning us as a leader in biodiversity tech and attracting global clients, while partnering with KPMG’s experts sharpened our alignment with global nature frameworks, further enhancing our value to international customers.”
