The Ellen MacArthur Foundation, together with The Prince of Wales's International Sustainability Unit, launched the $2 million New Plastics Economy Innovation Prize today, May 18th! The prize aims to accelerate innovations in product design and materials science that keep plastics in the economy and out of the ocean. The Innovation Prize is funded by Wendy Schmidt, lead philanthropic partner of the New Plastics Economy initiative.
This prize contains two parallel challenges:
1) $1 million Circular Design Challenge: How can we get products to people without generating plastic waste? This challenge focused on small-format packaging items, such as shampoo sachets, wrappers, straws, and coffee cup lids, which are currently not recycled and often end up in the environment.
2) $1 million Circular Materials Challenge: How can we make all plastic packaging recyclable? This challenge invites innovators to find alternative materials that could be recycled or composted, and could replace multi-layer packaging that is difficult to recycle.