Village Capital, with support from Moody’s Foundation, launched Greentech 2024: The Future of Sustainability,an investment-readiness accelerator to advance innovative and sustainable solutions, actively contributing towards building resilience and mitigating the effects of climate change across Africa.
The program is part of a broader global effort running in Latin America and Asia as well, that will support and scale startups working to address the effects of climate change by mitigating environmental damage, improving agricultural practices and nutrition, minimizing waste and pollution, preserving and protecting natural resources, and access to water, sanitation, and universal health. Geographically, the sub-Saharan Africa program will focus on startups from Egypt, Kenya, Nigeria, Senegal, and South Africa.
The latest UN Global Sustainable Development Report (GSDR 2023) reveals that only two out of 36 targets for 2030 are on track. Climate action and biodiversity are not only falling behind but regressing due to the slow implementation of solutions. Transformational change requires decisive action from individuals, businesses, academia, and science, not just governments and international actors.
Applications close on May 10, 2024. Full details and eligibility criteria can be found here.
The call for applications is open to regional startups that are building solutions to accelerate the shift towards sustainable development, focusing on areas such as:
- Cleantech and Climate Tech: Tech solutions addressing climate change and enhancing environmental quality.
- Agtech and Food Security: Tech-driven initiatives to develop nutritious food, improve efficiency in agriculture, increase yields, reduce costs, and boost sustainability.
- Circular and Regenerative Economy: Tech innovations minimizing waste, pollution, and emissions through sustainable resource use.
- Natural Resource Management: Tech-enabled sustainable management of land, water, air, and wildlife, addressing challenges like degraded land, deforestation, and biodiversity loss.
- Water, Sanitation, and Health: Tech companies providing solutions for clean water access, sanitation, hygiene, and overall health improvement.
From August through September 2024, the selected entrepreneurs will meet for three online workshops. The curriculum is focused on helping them develop the networks and tools they need to scale their impact and uplift their communities. They will work closely with industry experts, investors, ecosystem partners, and an investment analyst who will coach them 1:1 on building a financial model, identifying unit economics, and using financial metrics to drive both business and investor diligence.
All startups that apply to the program will be invited to join Abaca, Village Capital’s online global network that helps entrepreneurs articulate how ready they are for investment for their next big expansion. The network provides a diagnostic tool and matches entrepreneurs with relevant investors and resources.
