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Five finalists will get $250,000 worth of KPMG services with the winner receiving a $100,000 prize.
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KPMG expands environmental award for start-ups
11 April 2023
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10 minute read
KPMG has expanded its Nature Positive Challenge to include Fiji and PNG-based firms as it searches for environmentally focused start-ups that aim to protect life on land and sea.
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KPMG Australia chief executive Andrew Yates said the challenge was an important part of the firm’s commitment to understanding and improving its impact on nature and biodiversity.
“When our economies, livelihoods and wellbeing all depend on nature, we need to work in harmony with the environment as part of our business practice to ensure a sustainable future,” said Mr Yates.
“Last year’s challenge highlighted just how many innovative Australian ventures are developing impactful and disruptive solutions to complex and ongoing environmental problems.
“These start-ups have the potential to lead the way and we are thrilled to be able to support them again this year.”
KPMG has called for expressions of interest from innovative businesses working on ideas, solutions, and technology that deliver environmentally positive outcomes.
The five finalists would get access to $250,000 worth of consultancy, tax, and accounting services to help grow their business with the overall winner to receive a prize of $100,000.
KPMG said its staff would also get to vote for their favourite venture with the winner of the popular vote to be given $50,000 from the firm’s internal price on carbon fund.
For year two of the challenge, the primary themes were the blue economy and biodiversity.
Blue economy meant the sustainable use of oceans and marine resources to support economic growth while preserving the health of blue ecosystems. KPMG said it could also include protecting marine ecosystems and building climate resilience in coastal communities.
Biodiversity referred to accelerating the protection, preservation, and regeneration of all species and living things. The term could also refer to restoring natural landscapes and supporting sustainable food systems, according to the firm.
The Nature Positive Challenge’s inaugural winner was Western Australian start-up ULUU that developed a plastic alternative from sustainably farmed seaweed.
The co-founders of ULUU, Julia Reisser and Michael Kingsbury, said winning was a landmark moment for their business.
“This program not only added credibility to our sustainability claims, but it also introduced us to many customers and suppliers, seeding those vital relationships that will help us grow as a business,” said Dr Reisser.
“We would highly recommend applying — it will make a massive difference to your business and help your dreams become a reality.”
KPMG said expressions of interest would be open until 28 April with the prize to be awarded in June and all five ventures to feature at a showcase event to be held in September.
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