Climate Innovation Community is organizing the Startup Plastic Surgery incubation program for the first time. The program aims to reduce the negative effects of climate change by supporting innovative green ideas and is looking for Hungarian startups offering solutions to the environmental and health challenges caused by plastics today.
The newly launched accelerator program will focus on innovative solutions for the entire life cycle of plastic. The most promising projects selected will be able to then participate in MFB Group’s Hiventures incubation program and receive an investment of HUF 15 million.
During the four-month program, in addition to the opportunity for accelerated investment, participants will receive ongoing business coaching and industry-specific professional support to further develop their ideas surrounding the use of plastics or for rethinking plastic raw materials entirely.
Experienced coaches from the Climate Innovation Community help startups work to turn an idea into a competitive and economically viable business. At the end of the program, the best teams can receive an investment of up to HUF 15 million through Hiventures’ incubation capital program.
The unique startup program of the Climate Innovation Community is looking for ideas that will provide a solution in the following areas:
- Process innovation or business model innovation in plastics production, recycling, reuse
- Innovative products that replace plastics (i.e., packaging innovation)
- Application of new technologies in sectors using plastics
- Efforts to change consumer habits related to the use of plastic products
Startups can apply with a prototype or even simply a business plan; the deadline for applications is June 20, 2020.
The Climate Innovation Community has supported more than 150 startups since 2013, but there are still many untapped areas where innovative, marketable business solutions are needed. The Climate Innovation Community has provided more than 1,000 hours of coaching and mentoring to supported startups in recent years and has distributed EUR 750,000 in non-refundable support to the best teams.
The investor partner of the Startup Plastic Surgery program is Hiventures, part of MFB Group, which has provided nearly HUF 27 billion to 280 domestic startups since its launch in 2017.