The Marubeni Corporation (Marubeni) and its subsidiary WA Plantation Resources (WAPRES), located in Bunbury, have launched a unique initiative to uncover future innovations for sustainable forest management.
The Marubeni Forest Innovation Business Contest (MFIBC) is open to global and local proposals from businesses, non-profits, entrepreneurs, universities, students and any individual with a passion for the creative management of forests, in an economically, socially and environmentally sustainable way.
Forests support the livelihoods of millions of people and play a vital role in the maintenance of key ecosystems. A sustainable and creative approach to forest management offers great potential for the development of economically viable solutions to some of humanity’s major challenges.
An MFIBC evaluation committee will select the proposals it considers most appropriate for commercialisation across two categories.
Category 1 invites entrants to submit business ideas which, if selected, may be commercialised at the discretion of the contest organisers.
Category 2 invites business project submissions which, if selected, may be developed as part of a joint business venture between the entrant and contest organisers. This joint venture will include a feasibility study to investigate potential commercialisation, and the development of clear annual goals and timelines, as well as the provision of ongoing incubation and onsite support for the further development of the idea.
Evaluation criteria includes sustainability impact, scalability, replicability, potential applicability, feasibility, and business development potential.
The call for proposals is already open, with a deadline of 31 July. Winners are expected to be announced towards the end of January 2022.
For more information click here.
