Velocity names challenge finalists

A scheme to purchase carbon offsets while filling up your vehicle and software to make the car-wrecking industry more efficient are among the finalists battling for a slice of a $100,000 prize pool.

The Velocity $100k Challenge is a student-led programme delivered in partnership with the Centre for Innovation and Entrepreneurship, based at the University of Auckland Business School.

Every year 15 projects make the final stages of the competition for a chance to win seed capital and a place in the university’s incubator, Venture Lab.

Among this year’s finalists is CarbonSense, which provides a quick way to purchase carbon offsets when filling up your vehicle. The team has partnered with local petrol stations to help New Zealand become carbon neutral by 2050.

Dukan, a software company that aims to make processes in the car-wrecking industry more efficient and productive by using the latest technology, is also in the running for top honours. The company says it has identified eight main inefficiencies and problems in the industry.

Other finalists include an alternative power generation mechanism for satellites, a low-cost, portable diagnostic tool that detects glaucoma, and a special milk powder from manuka honey to improve gut health.

The awards feature three categories – new ventures, social entrepreneurship, and university research – and the winners will be announced during a function at the University of Auckland on October 23.