RMB Ventures supports winners of GreenPitch Challenge

MEDIA RELEASE 

3 AUGUST 2023

RMB Ventures supports winners of the 2023 FNF GreenPitch Challenge with capital injection

RMB Ventures is committed to supporting the green economy given the key role it will play in driving economic growth in South Africa in coming decades. Because RMB Ventures seeks to empower South African business to achieve their full potential, supporting the GreenPitch Challenge is a great way to identify and support early-stage green businesses.

This week several of these green economy innovators were celebrated at the FNF GreenPitch Challenge 2023 event hosted by GreenCape, in partnership with the Friedrich Naumann Foundation for Freedom. 

BAOM Eco Solutions in the start-up category, and Biological Agricultural Era (BioAge) in the pre-growth category, were announced as the winners for 2023. The challenge required businesses to pitch their sustainable, “green” early-stage businesses in order to receive funding to help realise their business potential.  The winners were selected by two separate panels of judges from 10 finalists, drawn from an initial 210 inspiring entries.

Above: Ewan Gray from RMB Ventures with the winners from BAOM Eco Solutions

The winners will each receive a set of prizes sponsored by RMB Ventures, Google Startups for Sustainable Development, LaunchLab, sarebi, AltGen and The Ethical Agency.

“We applaud all the finalists and winners,” said Ewan Gray, Private Equity Transactor at RMB Ventures. “We believe that the business support, publicity and funding these early-stage green businesses now have access to, will help them grow and scale. This in turn will lead to the creation of new jobs, the development of new green technologies and the reduction of environmental impact.”

Gray emphasised the significant impact of these businesses on the green economy: “In addition to boosting our economy, reducing our reliance on fossil fuels, conserving energy and protecting our natural resources, they will help to mitigate the effects of climate change and improve our overall environmental health.”

BAOM Eco Solutions is a biotech startup developing 100% home-compostable biofilms as alternatives to flexible plastics. With five effective prototype categories, their goal is to replace single-use plastics with a cost-effective, locally sourced, earth-friendly solution.

Biological Agricultural Era (BioAge) is an agri-biotech start-up that integrates propitious solutions for the agricultural sector of South Africa. Their flagship product “Nitro-Gro” is a liquid organic fertilizer and plant bio-stimulant.

Above: Biological Agricultural Era is congratulated by RMB Ventures' Ewan Gray

Gray concluded: “We trust that the cash prize will jumpstart BAOM Eco Solutions and BioAge’s implementation strategies as they work towards economic growth and the creation of a more sustainable future, not only for their businesses, but South Africa as a whole.”

End

About GreenCape:

GreenCape is a non-profit organisation that drives the widespread adoption of economically viable green economy solutions from South Africa. The team works with businesses, investors, academia and government to unlock the investment and employment potential of green technologies and services, and to support a transition to a resilient green economy.