The Milken Institute and the Motsepe Foundation announced the winners of the Milken-Motsepe Prize in Green Energy at the global conference held by the institute in Los Angeles.
The $2 million (Ksh 261,500,000) innovation competition seeks to recognize entrepreneurs striving to enhance access to reliable, affordable, and sustainable off-grid electricity in Africa.
One of the winners is Aftrak, an initiative based in both the United Kingdom (UK) and Malawi. Aftrak received a Grand Prize of $1 million for its solar microgrid which is easily assembled, and custom-designed tractors.
These innovations have tripled agricultural yield, boosted farmer incomes, and brought electricity to remote communities
Second place, receiving an award of $250,000 was presented to South Africa-based Omnivat.
Omnivat was recognized for its containerized electricity generation and storage system. This system provides clean water, clean energy, and Wi-Fi, enriched by virtual reality support, to remote communities.
The Green Energy Prize, which is a part of the Milken–Motsepe Innovation Prize Program, is the second instalment in a series of multiyear, multimillion-dollar global innovation competitions and awards aimed at advancing technological progress toward the UN Sustainable Development Goals (SDGs).
The inaugural competition within this initiative, the AgriTech Prize under the Milken–Motsepe banner, was initiated in 2021. It aimed to tackle the objectives of eradicating poverty and achieving zero hunger.
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Milken Motsepe Prize Judging Process
Following its launch in November 2022, the Milken-Motsepe Prize in Green Energy attracted registration from hundreds of entrepreneurs representing 79 countries across six continents.
Among them, 160 submitted their technological design and business models. In June 2023, an independent panel of expert judges meticulously selected 20 semi-finalists to receive $20,000 to develop and test their innovations.
However, each of the teams underwent a thorough and independent judging process, gauging their innovation’s potential to provide 60 kilowatt hours of off-grid electricity within a 24-hour timeframe, exclusively from sustainable sources.
Five teams were subsequently selected to progress to the Finalist Round. Each team was granted an additional $70,000 and presented their innovations in a live demonstration, in collaboration with Stellenbosch University in South Africa.
The co- founder and CEO of the Motsepe Foundation Dr Precious Moloi Motsepe congratulated and applauded the participants for their inspiring and promising innovations.
“Meeting the teams and witnessing their work and determination to solve one of the biggest challenges facing Africa was truly inspiring,” said Dr. Precious Moloi-Motsepe, co-founder and CEO of the Motsepe Foundation. “We congratulate the Green Energy winners and all the finalists. Your innovations show such promise, and we will be watching with pride as you bring your technologies to market,” said Precious.
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The 2024 Milken Institute Global Conference marked the unveiling of the third Milken-Motsepe Prize, which centers on FinTech advancements.
This prestigious award also aimed to recognize enterprises showcasing innovative technologies that enhance the accessibility of capital and financial services for small businesses in emerging and frontier markets.
With a total prize pool of $2 million, including a $1 million Grand Prize for the ultimate victor, the Milken-Motsepe Prize in FinTech is currently accepting registrations until August 6th.
Green Energy Prize Significance
Senior Director, environmental and social innovation at the Milken Institute, Dr. Emily Musil Church, emphasized that the significance of these awards transcends mere financial recognition.
“The impact of Milken-Motsepe Innovation Prizes goes well beyond the financial awards,”
“This is a global community of entrepreneurs who believe in imagining and building a better, more abundant, and sustainable world. Our role is to identify and support these bold entrepreneurs and to help accelerate their success,” said Emily.
To guide the allocation of philanthropic resources towards fostering positive global change. MI Philanthropy’s initiatives encompass projects like the Science Philanthropy Accelerator for Research and Collaboration (SPARC), which has already impacted over $2 billion in funding for medical research endeavors.
