Hargo99

Where does the $30 M prize money come from?

You state the prize is $30M - do you really have that money? Can you prove it?
15 Replies

UpGyres
moderator
Hi Hargo99,

The Challenge is in its funding stage.

TheGuyver2040
@Hargo99

The sponsor has actually stated that the prize money is 30M of a yet to be determined currency. It could be Canadian dollars, it could be American dollars, it could be Euros, or it could be a combination of all three.

“The Challenge offers 30 million money in prizes to innovative solutions..”

“The Challenge Sponsor will award 3 prizes of 10 million money each for the teams that work best together...”

“The currency of the prize may be in Canadian or US Dollars, in Euros or in a combination thereof the three currencies depending on the Sponsor(s) choice.”

TheGuyver2040
@UpGyres

You do realize that Nike has a similar contest that’s active now, right? As stakeholders, perhaps they’d be willing to invest in this endeavor.

Letícia Souza
@UpGyres
Is the challenge under funding yet?
Thanks

UpGyres
moderator
@Letícia Souza

Hello Leticia,

The Challenge will be fundraising throughout. We are confident to have most of the funding in place by the end of 2018.

(Update January 6, 2019, we did not secure the funding necessary in 2018 and made an announcement on October 8, 2018 "Extending the Timeline".
https://www.herox.com/plastika-reparabilis/updates)
Modified on Jan. 6, 2019, 8:44 a.m. PST

Priyanka
@UpGyres
Hello,what will be the average prize money awarded for stage 1,in percentage and can we quit the competition with our stage 1 price money?

Priyanka
What is the amount of money received at the end of stage 1-in percentage.can we quit the competition after receiving stage 1 price money?

UpGyres
moderator
@TheGuyver2040

Thank you Guyver2040.

We invited Nike to be one of the Sponsors of the Challenge.

UpGyres
moderator
@Priyanka Raj

Hello Priyanka,

This is a very interesting question. It leads me to ask: why would you want to quit the competition if you were selected to move on to Stage Two?

The short answer to your question is No, you may not quit after being selected to continue to the next Stage.

A more detailed answer is that once selected, you become part of an ecosystem and your innovation is an integral part to deliver a scalable and replicable solution to municipalities and/or industry worldwide.

Teams will compete in Two Stages, three tracks and three rounds for a total prize of 30 million Canadian or US dollars, or Euros, according to the Sponsor(s) choice of these three, and only these three, currencies.

This will be reviewed and revised through the services of HeroX and with the Sponsor(s) of the Challenge. (Prize Purse total of 30 million and those three currencies remain the same. Dates and amounts of awards moving from Stages and Rounds may vary from the following schedule):

• Stage One – 3 Tracks – 2018 – Duration April to November. Please note: Extending the Timeline announcement from on October 8, 2018.
https://www.herox.com/plastika-reparabilis/updates
o Stage One will be self-financed by the innovators and will have a small cash prize of 1.2 million shared by the number of selected winners to continue to Stage Two.

• Stage Two – 3 Rounds – 2019-2020 – Duration 24 months – 28.8 million total prize purse shared by the number of selected winners
o Round One – 2019 – Duration 6 months January to June – 4 million prize purse shared by the number of winning Ecosystems moving on to Round Two
o Round Two – 2019 – Duration 6 months July to December – 8 million prize purse shared by the number of winning Ecosystems moving on to Round Three
o Round Three – 2020 – Duration 12 months January to December – 16.8 million prize purse at the end of the 12 months shared by the number of winning Ecosystems
Modified on Jan. 6, 2019, 8:42 a.m. PST

Priyanka
@UpGyres
Sir,I have a great plan to counter this challenge.And I am 100% sure my entry is the winner.plz see it as I send you my draft tonight

UpGyres
moderator
@Priyanka Raj

Hello Priyanka,

The date for entering the Challenge is April 19. There will be a submission form for you to incorporate the draft of your great plan into it.

UpGyres is NOT a Sponsor or a Judge, UpGyres is HOSTING this Challenge and it is up to the Judges and Sponsors to select the winners.

Please follow the submission process which starts this coming Thursday, April 19.

Thank you.

Gary Harmon
Has this challenge been fully funded?
Can we get some verification of funding
Thanks

Gary Harmon
Why was Stage one Cancelled?
There should have been prizes awarded in November to Winners? Instead the contest was extended

UpGyres
moderator
Hello Gary,
UpGyres is not the Sponsor of the Challenge. We are the producers and hosts of it.
UpGyres is inviting companies, individuals, governments and organizations to Sponsor the Challenge which was a factor in Extending the Timeline before and it may have to be extended again depending on us securing the Sponsors.
We will extend the timeline as many times as necessary until we secure the Sponsors either for the full 30 million at the same time or for each Stage at a time.

UpGyres
moderator
Stage One was NOT Cancelled.

The entire timeline was extended. Please note: Extending the Timeline announcement from on October 8, 2018.
https://www.herox.com/plastika-reparabilis/updates
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