Extreme Tech Challenge, a startup competition and ecosystem for entrepreneurs solving global challenges, and tech giant Samsung Electronics have joined forces to launch The Samsung Climate & Circularity Tech Challenge.
Samsung Electronics is dedicated to sustainability, integrating it into its core business through products and strategies.
The company reports to have reduced 10.16M tonnes of CO2e GHG Emissions Reduction Relative to BAU (Scopes 1 and 2), reused 116.59M tonnes of water and used 98,826 of plastic with recycled resin.
Samsung’s goal is to attain carbon neutrality by 2050, foster resource circularity to enhance resource efficiency, and reinforce their management of indirect emissions (Scope 3) throughout their supply chain.
By pursuing these initiatives, Samsung aims to take a leading role in fostering a sustainable future for all.
Everything you need to know about the Challenge
Samsung has been working closely with startups to invest in and develop innovative technologies for environmental sustainability since announcing its New Environmental Strategy.
And now, in continuation of these efforts, Samsung and the Extreme Tech Challenge (XTC) are organising the Samsung Climate & Circularity Tech Challenge.
The competition will focus on circular economy and climate change, inviting startups to showcase their solutions and contribute to a greener planet.
The competition seeks innovative technologies aligned with Samsung’s New Environmental Strategy. It focuses on two key areas: Resource Circularity (resource processing, sorting, and extraction) and Climate Change Innovation (carbon emission measurement & management, emission reduction & offsets).
The Challenge will select innovative technologies for possible integration into Samsung’s products and manufacturing processes, promoting sustainability and addressing global challenges.
The global challenge welcomes tech for good innovators with ideas for eco-friendly home electronics, aiming to support sustainable solutions in consumer technology.
Young Sohn, co-founder of Extreme Tech Challenge, Founding MD of Walden Catalyst Ventures, & Chairman of the Board at HARMAN International, says, “For our entrepreneurs, challenge events are an opportunity to raise capital, network with global leaders, and access world-class mentorship to help them pioneer technological breakthroughs that address our most extreme global challenges.”
Applications open on July 3 and close on July 31, 2023. Apply here.
Finalists will be announced on August 28, 2023, ahead of the live final event on September 18, 2023.
The challenge provides entrepreneurs exposure to corporate leaders, VCs, and potential partnerships. The winner gets showcased at CES 2024, thanks to the partnership with Samsung.