Get to Know the Winners of the CHANGING Markets Award
The 16th IBF in Istanbul ended with exciting news: the announcement of the jury-elected Winners of the CHANGING Markets Award! They are true champions in developing markets for green and inclusive growth. But what exactly is a green and inclusive business? Get to know the winning business models and discuss the strengths and also the challenges these types of business face…
The atmosphere was tense. One could hear a pin falling in the small conference room at Istanbul’s International Center for Private Sector in Development. The ten finalists of the CHANGING Markets Award were about to present their business models to a high-level international jury and to answer some undoubtedly tricky questions in a closed-door pitching session on the eve of the 16th International Business Forum. One after the other stepped in front of the jury, who had the task to select up to three winners for the CHANGING Markets Award. And the criteria the finalists had to meet were more than demanding. Not only did they have to prove that their business model is inclusive and serves the base of the income pyramid. They also needed to prove that their businesses have a positive impact on the environment. And, if that was not enough, Jurors asked them to show how they contributed to the development of markets beyond their individual business, e.g. by engaging in partnerships with other business or working on improved framework conditions with policy makers.
The jury described the decision as a difficult one, as all finalists significantly contribute to market transformation with their products and services – thus, to quote Jury Chair Bernd Schleich “All enterprises can be considered Winners”. The decision of the jury was based on the application, the jury pitch and Q&A session and the additional material, including business plans, supplied by the finalists.
Finally, after two days of intense discussions, the Jury announced the three winners during the award ceremony which also marked the end point of this year’s International Business Forum. All Jurors declared that the decision had been taken unanimously in the end. The Winners received a monetary prize of 5,000 Euro each.
Learn more about the Winners: Banka Bioloo, presented by founder Namita Banka; Ciudad Saludable, presented by founder Dr. Albina Ruiz Ríoz; and Tara Machines, presented by Dr. Arun Kumar can be found below:
Banka BioLoo (India)
Banka Bio Loo provides affordable, eco-friendly bio-toilets. The company aims at tackling the health hazards of sanitation facilities in India by creating toilets that can be installed anywhere without the need for any external support. The bio-toilets do not need energy or heavy infrastructure, and relieves the pressure on groundwater resources.
Ciudad Saludable (Peru)
Ciudad Saludable creates efficient solid waste management systems. By enabling the development of microenterprises that collect and recycle waste in Peru, this initiative empowers and improves the livelihoods of waste pickers. These microenterprises reduce waste volume in municipal landfills and generate income by separating recyclables.
TARA Machines (India)
TARA Machines and Tech Services Pvt Ltd is a social enterprise which develops small business packages for micro-entrepreneurs containing production technologies and machinery for green building materials. TARA Machines helps to set-up these micro-enterprises across the country. They convert industrial waste into green building materials such as roofing tiles, floor pavers and fly ash bricks. This method decreases the need for natural resources, makes building materials more affordable and includes the BoP in its value chain both as producers and consumers.
The audience selected the winner of the audience award based on their performance at the audience pitch. In a fast-paced pitching session on 23rd October, the finalists explained their businesses to the audience of the IBF.
Technology for Tomorrow, represented by its founder Dr. Moses Musaazi, won the audience award; he will attend a seminar by sustainable development expert John Elkington in Potsdam in November.
Technology for Tomorrow (Uganda) Technology for Tomorrow develops and produces green building materials and other products which are more resource-efficient and cost-effective than those used conventionally. The enterprise uses locally available and environmentally sustainable materials for building materials and other innovative products. The approach protects the ecosystem and saves a significant amount of resources.