KPMG launches 2024 nature challenge to support ecosystem
The big four firm has launched a new challenge to champion innovative eco start-ups that benefit the environment.
KPMG Australia has announced the KPMG Positive Challenge 2024, which aims to bolster innovative eco start-ups and build scalable businesses that have a positive impact on nature and the environment.
The challenge was opened to start-ups in Australia, Fiji, and Papua New Guinea.
KPMG Australia CEO Andrew Yates said the challenge would be a way to further efforts towards benefiting the environment.
“Nature Positive has now entered mainstream corporate consciousness and is increasingly influencing how businesses operate,” he said.
“Our challenge focuses on two fast-growing sectors within the nature-positive ecosystem: regenerative economy and sustainable food systems.”
The challenge marked its third year in operation and has generated positive results and funding, according to KPMG.
KPMG said the winner’s product would focus on regenerative economy and sustainable food systems.
“Start-ups with solutions that support nature regeneration and practices that rebuild natural capital and ecosystems,” the firm said.
“This includes ventures scaling regenerative economies such as biodiversity carbon credit infrastructure and restoration projects.”
“Start-ups helping to track or prevent generation of food waste, enhancing nature and biodiversity while maximising productive landscapes.”
This would also include ventures promoting sustainable agriculture and responsible consumption and production “in harmony with nature.”
Past winner of the challenge, plastics alternatives biotech Uluu, raised $8 million in seed funding in collaboration with Quiksilver.
Xylo Systems, a biodiversity data platform start-up and another winner of the KPMG challenge, is set to hit $1 million in turnover next year. Xylo Systems co-founder and CEO, Camille Goldstone-Henry said winning the challenge was a game changer for the company.
“The funding accelerated the launch of our platform, positioning us as a leader in biodiversity tech and attracting global clients,” Goldstone-Henry said.
“Partnering with KPMG’s nature and biodiversity experts sharpened our alignment with global nature frameworks, further enhancing our value to international customers.”
KPMG said that $370,000 value combined in advisory support and prize money was “up for grabs” this year.
The firm called for applications from start-ups who had worked on innovative ideas, solutions and technology that delivered a positive outcome for the environment.
The KPMG Nature Positive Challenge application window opened on Thursday, 10 October and will close on Friday, 8 November 2024.
Winners will be determined by five judges: Jawun CEO Shane Webster; Climate Salad co-founder Mick Liubinskas; WWF Australia CRO Nicole Forrester; KPMG enterprise ESG lead Josh Geelan, and KPMG natural capital and biodiversity lead Carolin Leeshaa.
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