Sustainable Development News
Over a week of 15-19 June 2020, 10 teams of 15-19 y.o. participants from various schools in Luxembourg and the USA were exploring the methods and tools of social entrepreneurship and applying them to create a sustainable business solution for the problem of plastic waste - the theme of the 2020 Challenge being formulated as "Life Beyond Plastic". Ten prominent entrepreneurs accompanied the students in this exciting and challenging journey, helping the teams to fine-tune their ideas to the real life context. In a live pitching session on 19 June, young aspiring entrepreneurs presented their ideas to the jury of impact experts and investors (featuring representatives of European Investment Fund, IMS Luxembourg and London-based Archipelago Eco Investors, among others).
The teams who made it to the winners' virtual podium demonstrated not only passion for sustainability, but also their ability to design a practical and feasible solution that could create value on different levels, truly contributing to making the world a better place. The winner of the Challenge has been team "ramalulu" from St. George's International School who have come up with an idea of a mobile application encouraging HoReCa sector players to shift to more environmentally friendly packaging practices. The two other finalists were "Eco-lution" from Athénée of Luxembourg and "The Eyes of the World" from a Texas-based New Braunfels High School, whose respective innovative solutions explored the ways to reduce plastic in water packaging and consumption and to solve the need for housing by re-using plastic waste.
Having proven a great success, the Challenge is set to become an annual headline event for Impact Wombats and a unique platform for Luxembourg-based youth to explore their creativity and imagination in order to create specific and much needed solutions for a more sustainable and more inclusive world.
The Social Entrepreneurship Challenge has been piloted in 2020 by a Luxembourg-based youth movement "Impact Wombats" (www.impactwombats.com) in order to promote social entrepreneurship among high school students and to engage youth in finding constructive solutions to the most pressing global issues. Supported by European Impact Investing Luxembourg (www.eiil.lu) and its founding members (leading players in Luxembourg's financial sector), the Challenge has been designed “for youth, by youth” and implemented in a fully digital format during the Covid-19 pandemic lockdown.