Aduragbemi Omiyale
By Aduragbemi Omiyale
An opportunity to allow innovators, particularly venture capitalists, impact investors, climate tech startups, Green SMEs (small and medium-sized enterprises), philanthropic organisations, and government representatives, to receive funding support for Africa’s green economy solutions ranging from $200,000 to $1 million has opened.
A leading advocate for climate resilience and sustainable development organisation, Climate Action Africa (CAA), has created a platform that connects high-impact climate innovators in Africa with potential investors seeking to accelerate sustainable solutions.
The platform known as the Deal Room will be available to eligible applicants at the 2024 Climate Action Africa Forum (CAAF24) slated for June 19 in Lagos.
Following the CAAF24 deal room will be a post-event accelerator in partnership with the Silicon Valley-based Founder Institute and IDEA Africa.
This Africa-wide initiative is specifically designed to further accelerate and enhance support for promising Climate Tech startups and founders who participated in the Deal Room.
A statement obtained by Business Post revealed that entries for this funding support commenced on Monday, April 22, and will end on Friday, April 17, and interested applicants can register at https://deal.caaf.africa/register.
The participating companies must be African-owned and operate in any of the 54 countries on the continent, they must be for-profit firms with 1-5 years post-incorporation (post-MVP minimum viable product, and post-GTM go-to-market, and should leverage digital technology to deliver its business model, and female ownership is an added advantage.
The CAAF Deal Room is a strategic initiative that aims to create opportunities for innovators in the climate-tech domain focusing on emission reduction, energy, agriculture, transportation, circular economy, and building and construction.
The goal of the Deal Room is to select finalists who will have the opportunity to pitch their innovative ideas and solutions at the CAAF24.
The programme aims to boost investments in Africa’s green economy by galvanising a community of innovators, entrepreneurs, and investors to create applicable solutions that can mitigate the challenges of climate change on the African continent.
The Deal Room session will facilitate financing for solutions contributing to the growth and sustainability of Africa’s green economy. These deals may encompass prize money, equity plans, debt financing, mergers and acquisitions, and other investment options.
“Through the CAAF24 Deal Room, we aim to bridge the critical gap between promising climate ventures and the essential resources they need to thrive,” the co-founder and Executive Director of CAA, Ms Grace Oluchi Mbah, said.
“By facilitating connections between passionate entrepreneurs and dedicated investors, we can collectively unlock the immense potential of climate solutions in Africa,” she added.
