NUTM Scholar,
Boluwatife Arewa and his co-founders have won the N12 million first prize at
the Deji Alli ARM Young Talent Award (DAAYT). DAAYT gives young Nigerians the
opportunity to create innovative start-up ventures that add economic value to
the country.
Scrapays Technologies outperformed five other competition finalists with
its innovative solution that drives a decentralized recovery model of
recyclable waste. It effectively combines recycling, technology, and finance to
ensure a waste recovery cycle of less than one day.
Founded in 2019, the startup aims to bridge the waste collection gap
that exists in Nigeria, one of Africa’s largest contributors to global marine
debris. We wanted to create a solution
that not only generates profit but also gives purpose and meaning to the lives
of young people who make a living from engaging in waste recovery operations,
Boluwatife explained.
Speaking on the NUTM Scholar Program, Boluwatife stated that the one-year
interdisciplinary program in technology, entrepreneurship, and design has helped
him crystallize Scrapays goals, with the knowledge distilled by renowned
faculty. According to Boluwatife, the most impactful course for him in the
program has been the Market Creating Innovation course taught by Efosa Ojomo, co-author of The
Prosperity Paradox.
Boluwatife believes that winning the DAAYT award is a call to renew
Scrapays’ vision of decentralizing material recovery while creating independent
businesses in the waste ecosystem. He is also convinced that the funding will
help the startup achieve its goals of growing over 20,000 local collection
businesses in 24 months, collecting over 12 million tonnes of recyclable waste,
and facilitating pay-out of over $3.5 million from participating agents,
producers, and collectors.
On the future
of Scrapays, Boluwatife says the startup is on a mission to build a network of
collection businesses that can deliver on doubling recycling rates in
developing countries while also providing convenience and reward to waste
producers.