Village Capital has launched an investment-readiness accelerator program for African startups focused on greentech. The program, Greentech 2024: The Future of Sustainability, an investment-readiness accelerator, was launched in partnership with Moody’s Foundation.
The aim of the program is to advance innovative and sustainable solutions, building resilience and mitigating the effects of climate change across Africa. This is part of a broader global effort running in Latin America and Asia to support and scale startups working to address the effects of climate change. The Africa program will focus on startups from Kenya, Egypt, Nigeria, Senegal, and South Africa.
The call for applications is open to regional startups that are building solutions to accelerate the shift towards sustainable development. These solutions should focus on areas such as cleantech and climate tech, agtech and food security as well as circular and regenerative economy. Applications will close on May 10th, 2024.
According to the latest UN Global Sustainable Development Report, only two out of 36 targets for 2030 are on track. Climate action and biodiversity are falling behind and regressing due to the slow implementation of solutions. For this reason, transformational change is required through decisive action from individuals, businesses, academia, and science, not just governments and international actors.
Successful applicants will meet up for three online workshops from August through September 2024. The workshops’ curriculum is focused on helping them develop the networks and tools they need to scale their impact and uplift their communities. They will also work closely with industry experts, investors, ecosystem partners, and an investment analyst who will coach them on building a successful financial model among other vital skills.
Additionally, all applicants 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 expansion. The network provides a diagnostic tool and matches entrepreneurs with relevant investors and resources.