Having applied in 2016 with over 226 participants for the national finals, RecyclePoints, Mobicure and Ecofuture were selected as finalists. Emerging winner at the national stage, RecyclePoints qualified to be a part of The Ventures Acceleration Week.
Chivas Venture sought to fund any social enterprise making an impact in the state by letting them have a share of the $1m fund made available. Those who would have an opportunity to be funded were a part of the Ventures Acceleration week. The Ventures Acceleration week is an intensive five-day learning, mentoring and preparation period for the participants after which they are given an opportunity to pitch to the judges and an audience of over 300 guests.
After the pitch, RecyclePoints which was represented by Chioma Ukonu (founder and COO) emerged 1st runner up receiving $200,000.
Here are the winners who got the $750,000 that was left of the $1m fund.
1st place: Siam Organic, receiving $400,000
2nd place: RecyclePoints, receiving $200,000
Joint 3rd place: Bioestibas, iDrop and Intendu, each receiving $50,000
RecyclePoints is a waste recycling and social benefit venture operating an incentive-based scheme which collects recyclable materials from post consumers and in turn rewards them with “Points” which they can accumulate and use to redeem/shop for household items offered through their iRecycle store.