The Anglo-American Foundation (AAF)-sponsored Grindstone program, which aims to empower green sector entrepreneurs, has chosen fifteen South African green businesses.
The six-month 2023 Grindstone accelerator program is intended exclusively for post-seed to Series A green sector startups. For this year’s accelerator, Grindstone will select 15 green startups with strong growth and a focus on innovation, utilizing the ecosystem and strategic partners.
Grindstone will growth-engineer the chosen startups over the course of the six-month program, filling in knowledge and skill gaps with in-depth workshops and monthly coaching sessions. The startups will join a community of investors who are focused on sustainability, gain knowledge from Grindstone’s alumni, and collaborate with well-known ecosystem network partners like Green Cape and Savant.
The following startups have been chosen: Imperative Energy Group, Lilly Loompa Upcycled Homeware, RE:HEAT Africa, Isphepho Group, PWK Waste Management and Recycling, Ground 2 Tap, I-N-TECH, Boombadotmobi, First Drop Hydration, Tsehla Holdings, GreenMovement, MKGreen Solutions, The Green Cab, and VEZ Technology.
“From solar power to waste management, to water filtration systems, this cohort of 15 startups are driving positive change in their communities across South Africa. At the Anglo-American Foundation, we are proud to partner with Grindstone; together, we champion entrepreneurship that not only creates quality jobs, with a focus on youth, but also pave the way for a greener, more sustainable world,” said Maike Von Keymann, head of the Anglo-American Foundation.
The rapidly expanding green sector requires a corresponding rise in impact investing, according to Catherine Young, managing partner at Grindstone.
“By supporting innovation in the green sector, including clean energy, decarbonisation, sustainable food production, climate-tech and more, we can improve millions of lives, as well as drive sustainable economic growth and job creation in vulnerable communities,” she said.
“Our partnership with the Anglo-American Foundation will help South African entrepreneurs at the forefront of building a more sustainable future. It ties in perfectly with our own ESG focus, which is strengthened through partnerships like this.”
