African climate startups encouraged to apply for Adaptation SMEs Accelerator Project

Applications for the Adaptation SME Accelerator Project in Asia and Africa have been opened. This program is for SMEs and startups who are seeking market-based, contextualized solutions for critical climate adaptation and resilience problems.

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Village CapitalThe Lightsmith Group will run ASAP to accelerate 16 SMEs or startups that are developing climate resilience and adaptation solutions in Africa and Asia.

This grant-funded initiative is also supported by Conservation International, the Inter-American Development Bank, and the Global Environment Facility’s Special Climate Change Fund. It aims to create an environment for small- and medium-sized businesses in emerging markets with technologies, products and services that can help build resilience to climate change.

Jay Koh, Managing Director of The Lightsmith Group stated that “Accelerating growth in selected climate adaptation solution companies in developing countries” is the final step of the ASAP strategy. We can show how these companies can adapt to climate change’s growing effects by connecting SMEs that have been identified using the Adaptation Solutions Taxonomy with the resources of a world-class accelerator.

Adedana Ashebir is the regional director for Africa and Middle East for Village Capital. She said that SMEs and startups offer local solutions to climate adaptation and resilience in developing nations.

“Despite this fact many companies struggle to secure financing and lack the operational capacity to scale up their solutions. ASAP will give companies that are at the intersection between impact, inclusion and investability the chance to take their ideas from vision to reality through scale-able funding,” she stated.

Each of the 16 companies chosen for the accelerator will have the chance to work closely alongside industry experts, investors and other ecosystem partners to build the networks that they need to scale up their impact.

All participating startups will be invited by Abaca to join Village Capital’s global online platform, Abaca . This platform helps entrepreneurs analyze and prepare their businesses for investment. They are also matched with the right investors.

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