Applications for the Greenovations Africa initiative, which provides access to mentorship and investment possibilities, are requested from African firms with creative ideas that address current difficulties in any green industry.
Entrepreneurs in the fields of smart agriculture, renewable energy, waste management, water management, and climate action can submit an application to get specialized assistance, mentoring, and seed grant financing to commercialize and expand their discoveries.
“Advancement of the green sector within an ongoing context of transition to a low-carbon economy in Africa has the potential to foster entrepreneurship development and faster growth potential, particularly for youth-and women-led entrepreneurial initiatives,” organisers said.
“By expanding the portfolio of bankable, concept-proofed green business models that are both markets- and investor-ready, we can create job opportunities and contribute to the continent’s economic welfare. The ensuing creation of job opportunities bolsters the continent’s GDP growth potential, currently valued at US $500 billion per year over the next 30 years.”
In light of this, the Greenovations Africa program combines incubation and post-incubation programs, giving participants the sector-specific expertise, entrepreneurial know-how, and resources, they need to increase their chances of success as their company concept or solution matures.
AfriLabs, VC4A, the United Nations University, the Regional Collaboration Centers of the Secretariat of the United Nations Framework Convention on Climate Change, and the Pan African University Institute for Water and Energy Sciences including Climate change (PAUWES) of the African Union are among the key participants that make up the ecosystem for innovation and entrepreneurship in the green sector in Africa.
Using a blended approach that combines online capacity-building training with online courses to develop the hard skills and competencies needed to understand the chosen market segment and strengthen the development of innovative products and services, selected companies go through six months of incubation and three months of post-incubation.
Together with access to markets, investors with an interest in Africa, and funding prospects through UNFCCC investment channels, they also obtain mentorship help through one-on-one coaching conversations, specialized technical expert support, and business coaching from professionals in the ecosystem.
The deadline to apply is April 24.
