Adaptation SME Accelerator Project invites African climate startups to apply

The Adaptation SME Accelerator Project (ASAP), a program for SMEs and startups scaling market-based and contextualized solutions to critical climate adaptation and resilience challenges, is now accepting applications in Africa and Asia.

ASAP, which is led by Village Capital and The Lightsmith Group, will help 16 SMEs and startups scale climate adaptation and resilience solutions in Africa and Asia.

A grant-funded initiative supported by the Global Environment Facility’s Special Climate Change Fund, Conservation International, and the Inter-American Development Bank that aims to create an ecosystem for small- to medium-sized businesses in emerging markets with technologies, products, and services that can be used to build resilience to the effects of climate change.

“The key final step in the ASAP strategy is to accelerate the growth of selected climate adaptation solutions companies in developing countries,” said Jay Koh, managing director of The Lightsmith Group. “By connecting SMEs identified through the Adaptation Solutions Taxonomy to the resources of a world-class accelerator, we can show how these companies can scale up their solutions to the growing impacts of climate change, particularly in the most vulnerable places.”

According to Adedana Ashebir, Village Capital’s regional director for Africa and the Middle East, SMEs and startups provide local, contextualized solutions for climate adaptation and resilience in developing countries.

“However, many struggle to secure financing and lack the operational capacity to scale their solutions.” Companies at the intersection of impact, inclusion, and investability will have the opportunity to bring their ideas from vision to scale through ASAP,” she said.

Each of the 16 companies chosen for the accelerator will have the opportunity to collaborate closely with industry experts, investors, and ecosystem partners in order to build the networks required to scale their impact.

All startups participating in the program will be invited to join Abaca, Village Capital’s global online platform that assists entrepreneurs in analyzing and preparing their businesses for investment. The network also connects them with the appropriate investors and resources.

Applications will be accepted until January 31, 2022. Apply here.