MSDUK Innovation Challenge | APPLY TODAY
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Looking back to 2006, when MSDUK was formed, the progression over the last 15 years is humbling, says Mayank Shah, Founder & CEO, Minority Supplier Development UK (MSDUK).
Inclusion Week 2021 takes place this week (27 Sept – 3 Oct). Inclusion Week is designed to celebrate everyday inclusion in all its forms. This is the 9th year Inclusive Employers has brought organisations together from across the globe to celebrate, share and inspire inclusion practices.
Welcome aboard our FIRST EVER MSDUK Accelerator cohort! No-one ever said the journey of growing a business was easy, but our cohort will be in the best hands to develop their knowledge, and business network of lifelong support within the MSDUK Family.
MSDUK launches Supplier Diversity project in six European countries. A pan-European supplier diversity project launch in Amsterdam demonstrates corporate commitment to drive economic inclusion of ethnic minority/immigrant entrepreneurs in corporate supply chains
The Innovation Challenge 2022 theme is Corporate Sustainability. Corporate sustainability is more than just protecting the environment. A sustainable business is one that works in step with societal and environmental goals, rather than at odds with them. Corporate sustainability is a business strategy for long-term growth that works in harmony with people and the planet.
Environmental Category: The environmental pillar relates to products, services, or solutions that can help corporates be more environmentally conscious. This could include solutions relating to their offices, logistics, retail, supply chain etc.
Examples of types of business solutions include:
- Sustainable packaging
- Circular economy
- Advanced materials
- Recycling
- Green energy
- Managing waste
- Decarbonisation
- Eco-friendly products/solutions
- Locally sourced/produced
Social Category: This category relates to solutions that promote health, safety and wellbeing for employees, customers or communities of a corporate.
Examples of types of business solutions include:
- Human Resources
- Safety products or equipment
- Mental health
- Education / Skills Development
- Childcare
- Travel
- Medical devices
- Healthcare
- Social equality
- Helping disabilities
Economic Category : The economic category relates to helping corporates increase business efficiencies through sustainable practices. This could be through cost reduction through improved material engineering or packaging, better targeting of their customers to increase market share or create new market opportunities for them.
Examples of types of business solutions include:
- Efficient resource management
- Customer loyalty
- New market opportunities
- Producing goods and services sustainably
- Cost reduction
Special Categories: Our corporate partners have specific challenges in their business. If you have a solution that can address these specific challenge statements, you’ll automatically be entered to win a special award of £2,000 if you are selected.
Cummins’ Challenge Statement: Can you help Cummins within its facilities management or operations department in the area of Water, Waste and Energy?
EY’s Challenge Statement: Do you have sustainable solutions to help EY increase their business efficiencies and reduce carbon emissions?
GSK’s Challenge Statement: Can you help GSK improve good health and wellbeing for their internal and external communities?
Programme Benefits
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1 x £20,000* Total Cash Grant + a place on Accenture Mentoring Programme.
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3 x category winners - £1000 cash grant.
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Opportunity to showcase your business solution to MSDUKs corporate network who are actively looking for new ethnic minority businesses to work with.
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Associate MSDUK Membership (worth £150 each) for all applicants. Subject to terms and conditions.
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Opportunity to win category special awards worth 3 x £2000.
Timeline
04 April 2022
Launch of Innovation Challenge 2022
31 May 2022
Submission deadline for applications
11 July 2022
Category Finalists announced
08 September 2022
Innovation Challenge Finals
Eligibility Criteria
ETHNIC MINORITY
MSDUK champions inclusion of ethnic minority businesses and founders into the mainstream. All applicants should have at least one founder of an ethnic minority origin, with a majority (51% or more) stake and/or ownership within the business.
PERMANENT UK RESIDENT OR CITIZEN
You must be a UK citizen or resident with an Start-up visa
INDIVIDUAL OR IN TEAMS
You can enter as an individual innovator or as part of a team.
Participant Testimonials
"We are really grateful for all the support from MSDUK and excited by all the opportunities that this win (and all the amazing prizes!) will help springboard for us, particularly in terms of growth opportunities, not just from a networking perspective but also from a personal and professional development perspective through the Accenture mentoring programme. We're so pleased we took part and that organisations like MSDUK exist to showcase startups like ours!"
Foong Wai Ng, Matchable, MSDUK Innovation Challenge Winner 2021
"The MSDUK Innovation Challenge not only helped me personally; but included Kapsule in a supportive community. In that community we found our assumptions challenged, ideas stress tested, and received invaluable advice. That’s the power of #Diversity”
David Chen, Kapsule, MSDUK Innovation Challenge Finalist 2019
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