Marubeni Corporation and its subsidiary in Bunbury, Western Australia, WAPRES, are initiating a unique Marubeni Forest Innovation Business Contest (MFIBC) open to proposals from ventures, businesses, non-profits, entrepreneurs, universities, students, and all individuals with a passion to manage forests creatively, in an economically, socially, and environmentally sustainable manner.
Forests support the livelihood of millions of people on Earth and play an essential role in the maintenance of key ecosystem services.
With a sustainable and creative approach to forest management, there is a huge potential of forests to provide economically viable solutions to some of the major challenges that humanity is facing. Overcoming these four challenges is also crucial to the achievement of Sustainable Development Goals (SDGs) 2 (food), 6 (water), 7 (energy), 13 (climate change), and 15 (life on land).
Participation Categories and Awards
Evaluation Committee will select the proposals that it considers to be the best for commercialization in Category 1 and 2 (further described below) depending on the category selected by the winner upon application. Thereafter, Marubeni will conduct further feasibility studies for potential commercialization. If the results of the field tests are favorable and Marubeni believes that the proposal is suitable for commercialization, Marubeni may proceed with commercialization in the manner of the category selected by the winner at the time of application.
The applicants for MFIBC must state in their applications which one of the two categories their proposal is intended for.
Category01 USD 30,000
You submit your business idea, which, if selected, may be commercialized by Marubeni at its sole discretion.
Any Intellectual Property Rights (defined in “Call for Proposals”) and business development rights relating to the winning business idea shall be transferred entirely to Marubeni upon Marubeni’s notification of winning the award to the winner.
Category02 USD 15,000+ ongoing engagement/joint incubation support
You submit your business project, which, if selected, may be developed in a joint business relationship with Marubeni and the winner(s). Marubeni may support the winner(s) in the joint business relationship via ongoing incubation and onsite support to develop the business idea.
The details of the business relationship will be determined in discussions between Marubeni Corporation, WAPRES, and the winner(s).
A feasibility study shall be conducted for a maximum period of three (3) years with annual clear goals and timelines.
Marubeni will hold a majority interest in any joint venture with the winner(s).
Scalability/ replicability/ potential applicability
Feasibility/ innovativeness/ business development potential
Scientific or other evidence
The evaluation committee of MFIBC 2021 will consist of:
A Japanese leading company who trades forest products
One of the largest company in the wood fiber industry in Western Australia (WA)
Next Leaders for Sustainability (NELIS) and other external experts
Experts in forests, sustainability, start-ups, and sustainable business generation.
- June 7, 2021
- Launch of Call for proposal
- July 31st, 2021
- Deadline for applications
- August 31st, 2021
- First round results announced (eight semi-finalists)
- October 31st, 2021
- Second round results announced (four finalists)
- End-January, 2022
- Announcement of winner(s)
MFIBC is open to a large variety of global and local (Western Australia/Australia) stakeholders:
Individuals, ventures, larger businesses and other commercial entities, non-profit organizations, universities and students, and individuals with a passion for forests, forestry, and sustainable businesses. Only proposals that contain both a sustainability perspective (social and environmental angle) and a business and/or clear economic value proposition will be taken into consideration.
The applicant must indicate whether the application is intended for Category 1 or Category 2 (see above).