THE 2022 WINNERS
Transformational Climate Change Solutions
WINNER - HomeBiogas Waste-to-Energy Systems, Global
The world produces over 2 billion tonnes of solid waste, 44 per cent of which is food or organic. HomeBiogas has developed systems enabling households and businesses to turn their organic waste into renewable energy which can be used as clean cooking gas or heating water, on-site. In addition, the system produces bio-fertilizer. In the consumer sector, it has sold over 15,000 systems across 107 countries, and in 2021 alone mitigated over 76,000 tonnes of CO2-equivalent, kept 5,805 tonnes of food waste in circulation, and was responsible for 15.8 million hours of cooking using clean energy. A new system aimed at commercial kitchens in businesses such as hotels, restaurants and hospitals was launched last year, designed to convert 1 ton of waste per day on-site while producing clean energy for business use.
Special Commendation - Amadeus sustainable textile fibre project, Brazil
Textiles with non-degradable fibres are the second largest generator of waste, globally. The Amadeus project was created in a forest area in Brazil to produce the most sustainable textile fibres using pulp from wood. Advanced technology mills are designed to provide 500,000 tonnes per year of the highest quality pulp, which is then turned into textile fibres. Tree-based fibres, combined with a forest sustainability initiative, are a much more environmentally sustainable solution than conventional textile fibres, with a highly efficient carbon footprint. The project is expected to reach 200 million dollars in revenue by the end of 2022 and has positively impacted more than 40,000 people economically.
Transformational Human Capital Solutions
WINNER - MedGenome Genomic Testing and Research, India
India’s genomically diverse people represent 20 per cent of the world’s population, yet their DNA sequences are only reflected in under 0.2 per cent of global genetic databases. Through high quality and accessible diagnostic testing, MedGenome has addressed this inequity by developing the world’s largest proprietary genomic database derived from South Asian populations. This initiative will provide invaluable insights into non-communicable diseases while aiding drug discovery research for oncology, diabetes, ophthalmology, cardiology and as many as 7,000 rare diseases that are still not effectively treated. Since its launch in April 2020, MedGenome has administered over 200,000 genetic tests and served over 170,000 patients. A direct-to-consumer product, Genessense, which provides genetic and health risk scoring as well as ancestry data, was introduced last year.
Special Commendation - upGrad Integrated Lifelong Learning Programmes, India
Education systems are not adjusting fast enough to the skills requirements of a future workforce. According to some studies, two-thirds of children entering primary school today will work in a job that does not yet exist. upGrad, a leading Indian Edtech provider, is addressing this gap for professionals aged 18 to 55 with industry-ready programmes designed to increase skill-sets and boost competency, using interactive learning, mentoring and on-site training. upGrad has positively impacted over 3 million learners, in India and overseas. Its integrated data-focused online higher education programmes, which benefit from partnerships with leading overseas universities, have been particularly successful, increasing salaries to levels averaging above 130,000 US dollars a year for its students.
Transformational Finance Solutions – Gender-lens Finance
WINNER - Banco Pichincha Gender Intelligence Programme, Ecuador
In Ecuador, women represent 51 per cent of the population and around 2 million small and medium sized businesses are led by women. On average a woman works 16 hours more than their male counterparts. Banco Pichincha’s Gender Intelligence Program ensures that products created by the bank, including financing packages for MSMEs, digital payment systems and non-financial offerings such as financial education, are tailored for female clients, and help progress the economic autonomy of women and their businesses. Banco Pichincha this year became the first bank in Ecuador to issue a gender bond – worth 200 million dollars. As of December last year, 1.185 billion dollars worth of its credit portfolio was placed with 186,000 MSMEs led by women.
Special Commendation - Evermos e-commerce platform for women entrepreneurs, Indonesia
Due to cultural and structural barriers, many Indonesian women have been unable to fulfil their entrepreneurial potential. Evermos’s founders have taken advantage of the unprecedented growth of e-commerce in Indonesia to address this issue. Evermos is a social commerce platform that enables micro-entrepreneurs in low-tier cities, especially women, to become resellers, connecting them with reliable product suppliers and supporting them with digital sales channels and training. The platform currently has over 500,000 resellers, 73 per cent of whom are women and 85 per cent of whom reside in lower income cities. Resellers get a 30 per cent commission for using the platform. Evermos provided 5,200 hours of training last year to improve digital business literacy.
Transformational Finance Solutions - Impact Investing
WINNER - Horizon Capital Emerging Europe Growth Fund III, Ukraine and Moldova
Since gaining independence, Ukraine and Moldova have severely lagged behind other Central and Eastern European peers in terms of economic prosperity. The Russian invasion of Ukraine has added another layer of unprecedented economic disruption, resulting in an estimated loss of 35 to 45 per cent of Ukraine’s GDP, with spillover effects for Moldova which has received the most Ukrainian refugees on a per capita basis. Horizon Capital is the only established growth equity fund manager in the region, able to invest capital of up to 20 million dollars per transaction without seeking operational control. The aim is to spur entrepreneurial activity in Ukraine and Moldova, by backing women-led businesses, creating well-compensated job opportunities and delivering modern essential services. Horizon Capital has been the largest institutional investor in Ukraine’s fast-developing IT sector. At end-2021, companies in Horizon’s EEGF III fund had created almost 9,000 new jobs, and employed more than 24,000 people, including almost 15,000 women.
Special Commendation - Accion Quona Fund
Quona Capital’s Accion Quona Fund supports fintech companies that are expanding access to quality financial services for underserved consumers and small businesses in emerging markets. Across its portfolio of funds, Quona has so far invested in more than 50 fintech companies operating in Latin America, India, Southeast Asia, Africa and MENA. The aim is to deliver strong financial returns by leveraging fintech to boost financial inclusion and improve livelihoods. In 2021 alone, Quona’s portfolio collectively served 8.8 million MSMEs, 30 million retail customers and impacted over 166 million individuals, while providing employment for 23 million people and generating revenue of 836 million dollars.
Transformational Solutions - New Frontiers
WINNER - Digital Vaccines by FriendsLearn and Carnegie Mellon University - US, India and Botswana
For the past 12 years, a team led by Carnegie Mellon University has been working on a way to create “digital vaccines”, enabled by technologies like neurocognitive computing, neural networks, deep learning, mobile VR/AR/MR, and the metaverse. The aim is to stimulate the immune system non-invasively. A global network of research institutions has been established in the US, India and Botswana to ensure that outcomes are appropriate for advanced and developing economies, and that any health inequity is addressed. The US Patent and Trademark Office issued the world’s first patent for a digital vaccine in June 2022. The application is pending in Europe, India, China, Canada, Australia and several other countries.
Special Commendation - Ecovon Renewable Wood Product, Ghana
Ecovon has developed the first non-additive, bio-based, renewable wood product for use in panelling board and other building materials. Naturally flame retardant and anti-fungal without any added synthetic binders, the panels created from this wood are stronger and more durable than commercial equivalents. The rate of deforestation in Ghana is rapid, with a loss of around 135,000 hectares per year. As this wood is created from coconut husk and sugarcane bagasse, production reduces carbon emissions and deforestation, while enriching the lives of local coconut and sugarcane labourers.
Transformational Frontier Market Solutions
WINNER - 14Trees 3D Printing of Homes and Schools, Africa
According to UNICEF, there are more than 40,000 classrooms needed in Malawi alone, taking over 70 years to complete using conventional construction methods. 14Trees has introduced construction 3D printing in Africa, building the first 3D printed school globally and the first 3D printed house in Africa, both in Malawi. Building through 3D printing is up to 20 per cent cheaper, and 50-80 per cent faster, and saves up to 70 per cent CO2 compared to conventional methods. Since introducing the technology, 14Trees has also printed schools and homes in Kenya and Madagascar, and it has projects in eight more African countries.
Excellence in Transformational Business
WINNER - MedGenome Genomic Testing and Research, India
India’s genomically diverse people represent 20 per cent of the world’s population, yet their DNA sequences are only reflected in under 0.2 per cent of global genetic databases. Through high quality and accessible diagnostic testing, MedGenome has addressed this inequity by developing the world’s largest proprietary genomic database derived from South Asian populations. This initiative will provide invaluable insights into non-communicable diseases while aiding drug discovery research for oncology, diabetes, ophthalmology, cardiology and as many as 7,000 rare diseases that are still not effectively treated. Since its launch in April 2020, MedGenome has administered over 200,000 genetic tests and served over 170,000 patients. A direct-to-consumer product, Genessense, which provides genetic and health risk scoring as well as ancestry data, was introduced last year.