The Monaco Ocean Protection Challenge, an international competition dedicated to ocean preservation, awarded three innovative business concepts during its 6th edition. The winners were selected from over 100 students and young entrepreneurs from around the world.
An International Competition Dedicated to Ocean Preservation
Nearly 100 participants from about twenty international universities and business schools, representing approximately 23 different nationalities (United States, Mexico, Italy, France, Turkeyโฆ), worked from mid-January to the end of April 2023 to develop a business plan aimed at presenting new business concepts for a more sustainable ocean. In total, 47 projects were submitted, and after two selection phases, six of them were chosen for the grand finale.
The goal of the Monaco Ocean Protection Challenge is to support the young generation in developing concepts and business models with a positive environmental impact on the ocean. The final of the competition, co-organized by the International University of Monaco (IUM), the Oceanographic Institute (Albert I Foundation, Prince of Monaco), the Monaco Impact association, and the Prince Albert II Foundation, took place on Friday, June 9.
The Winners
During the final, the six finalists were invited to present their project before a jury composed of five members. The three winners were then rewarded by H.S.H. Prince Albert II of Monaco.
In the โStudentsโ category, we have Bloom, an initiative to clean and convert algal blooms, which aims to convert surface algae into biomass pellets. This project, led by students from Babson College in the United States, won a discovery trip to the Arctic valued at โฌ8,000 offered by Nansen Polar Expeditions.
In the โStart-upsโ category, the prize was awarded to Pronoe, a French company that issues high-quality carbon removal certificates through production and control of the alkaline flow. Pronoe’s clients purchase these certificates to meet their Net Zero and SDG commitments. As a reward, Monaco Impact presented a check for โฌ5,000 to Pronoe, while White Castle Partners offered a mentoring program valued at โฌ7,000.
The โCoup de Coeurโ prize was awarded to Flexisea, a team composed of students from MINES Paris – PSL, the International University of Monaco, and the Universitatea Politehnica din Bucureศti. Flexisea developed a precise underwater robotic arm that is respectful of marine species, providing an innovative solution for manipulations. CFM Indosuez Wealth Management rewarded Flexisea with a check for โฌ3,000.
Additionally, each winner received a trophy specially created for the occasion, made from recycled materials by jewelry designer Alberto Domenico Vitale, CEO of Vitale 1913 Monte-Carlo.
By supporting these young entrepreneurs and students, the Monaco Ocean Protection Challenge contributes to creating a more sustainable future for our ocean. The awarded projects demonstrate the next generation’s capacity for innovation and action, paving the way for initiatives beneficial to our marine environment.
