Google and SAP will sponsor an international contest to find social entrepreneurs with original ideas that can impact global economic sustainability.
The companies announced the Circular Economy 2030 contest at the World Economic Forum in Davos-Klosters, Switzerland, this week. Entrepreneurs are invited to submit viable, revenue-generating business plans that use data analytics and machine learning to promote sustainable consumption and production through recycling, reuse, refurbishing and repair.
According to ZDNet.com, a circular economy refers to “a holistic system that designs out waste and pollution, keeps products in use and regenerates natural resources. That could mean anything from eco-friendly packaging solutions to sustainable agriculture.”
SAP estimates that a circular economy could generate $4.5 trillion in new economic output by 2030.
“SAP is proud to partner with Google Cloud to further our commitment to sustainability and the Sustainable Development Goals while we strive for a circular economy,” said Alicia Tillman, SAP’s chief marketing officer, in a statement. “At SAP, we embrace the challenge of environmental responsibility and believe it is our duty to put our technology to use to help the world run better and improve people’s lives. Teaming up with Google Cloud and environmental entrepreneurs, the sky is the limit.”
The deadline for applications is March 17. Five finalists will be selected and introduced at the Google Cloud Next Conference, scheduled for April 9-11. Finalists will then participate in an “in-person hackathon” on April 12 in San Francisco. Here, they vie for the first-place award of more than $100,000 in prize money and benefits as well as participation in Google Cloud for Startups’ Bootcamp and one-on-one membership. The other finalists receive $25,000 in cash.