Applications for the Greenovations Africa initiative, which provides access to mentoring and investment opportunities, are requested from African firms with creative ideas that address current difficulties in any green sector.
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 scale their discoveries.
The transition to a low-carbon economy is still underway in Africa, and the development of the green sector “has the potential to encourage entrepreneurship development and faster growth potential, particularly for youth- and women-led entrepreneurial ventures,” according to the organizers.
“We can increase employment possibilities and promote the economic well-being of the continent by diversifying the portfolio of bankable, concept-tested, and investor-ready green company ideas. The continent’s Economic growth potential, now estimated at US$500 billion per year over the next 30 years, is boosted by the resulting job prospects.
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 business concept or solution matures.
The Pan African University Institute for Water and Energy Sciences (PAUWES) of the African Union and AfriLabs, VC4A, the United Nations University, the Regional Collaboration Centres of the Secretariat of the United Nations Framework Convention on Climate Change, and the Regional Collaboration Centres of the Secretariat of the United Nations Framework Convention on Climate Change are among the strategic stakeholders brought together by the initiative.
In order to develop the hard skills and competencies required to comprehend the chosen market segment and strengthen the development of innovative products and services, selected companies go through a six-month incubation period and a three-month post-incubation period using a blended approach that combines online capacity-building training with online courses.
Together with access to markets, investors with an interest in Africa, and funding prospects through UNFCCC investment mechanisms, they also gain mentoring support 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.
You can apply here.