African businesses with innovative solutions that tackle existing challenges in any green sectors are invited to apply for the Greenovations Africa programme, which offers access to mentoring and investment opportunities.
Startups in smart agriculture, renewable energy, waste management, water management and climate action can apply to receive tailor-made support, mentorship, and seed grant funding to bring their innovations to market and scale.
“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 market- 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.”
With this in mind, the Greenovations Africa programme combines incubation and post-incubation programmes, providing participants with sector-specific skills, entrepreneurial knowledge, and the resources needed to boost their chances of success through the maturation process of their business concept or solution.
It brings together strategic stakeholders of the ecosystem for innovation and entrepreneurship in the green sector in Africa – AfriLabs, VC4A, the United Nations University, the Regional Collaboration Centres 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.
Selected companies undergo six months of incubation and three months of post-incubation, using a blended approach encompassing online capacity-building training with online courses to develop hard skills and competencies needed to understand the selected market segment and strengthen the innovative product and service development.
They also gain mentoring support with one-on-one coaching conversation, dedicated technical expert support and business coaching from experts from the ecosystem, as well as access to marketplaces, Africa-focused investors, and funding opportunities through UNFCCC’s investment mechanisms for the deployment of the viable business models for the products.
Applications are open here until April 24.