Climate change has emerged as the greatest challenge of our time, and its impacts are already disproportionately affecting Africa. However, amidst this crisis lies a unique opportunity to #buildbackbetter, forging a cleaner, greener, fairer, and more sustainable future through Cleantech.
The 2023 Cleantech Challenge is set to seize this opportunity by inviting South Africa and Africa’s boldest and most ambitious start-ups to participate in a high-stakes contest at the Green Energy Africa Summit.
- With up to R 5 million in venture capital funding at stake
- Revolutionize the continent’s energy landscape and drive sustainable progress.
- The Cleantech Challenge aims to enable energy security across Africa.
- Applications close on the 12th of June 2023.
Africa has abundant renewable energy resources and an opportunity to transition through innovation.
South Africa, plagued by power outages, is in urgent need of an energy transition to ensure resilience, security, and affordability. According to the International Energy Agency (IEA), global energy investment was predicted to rise by 8% in 2022, reaching USD 2.4 trillion, with clean energy leading the way. This presents a critical opportunity for Africa to leverage its abundant renewable energy resources and spearhead the continent’s sustainable energy goals.
Achieving the ambitious 2050 climate goals demands significant breakthroughs in energy generation, storage, and consumption. According to ANZA Capital, South Africa, rich in solar, wind, and mineral resources, is poised to lead Southern Africa’s energy transition. The country’s expertise in technologies like the Fischer-Tropsch process, which converts syngas into liquid hydrocarbons, further enhances its potential to drive clean and green energy solutions.
About the Challenge
The Cleantech Challenge is hosted by the Green Energy Africa Summit and features the Energy Investment Village. This initiative has partnered with the Research Institute for Innovation Sustainability (RIIS) and the Saldanha Bay Innovation Campus, supported by Anza Capital and the Africa Infrastructure Development Association (Afida). The goal is to identify and support the most promising cleantech start-ups in South Africa and Africa as a whole. The selected start-ups will engage in a high-octane pitching event, akin to a lion’s den, on October 11th, 2023, at the Green Energy Africa Summit.
Africa possesses significant clean technology expertise but often faces barriers in terms of access to funding and mentorship, limited networks, capital, and advisory support for new project developers. Winning start-ups stand a chance to secure up to R5 million in venture capital investment funding (Terms and Conditions Apply), empowering them to scale their innovative solutions and make a substantial impact.
The Cleantech Challenge primarily focuses on solutions in the built environment, energy and industry, agriculture, transport, waste management, and water management, which are also part of ANZA Capital’s funding mandate. By nurturing and supporting cleantech start-ups in these crucial sectors, the challenge aims to create a holistic approach that addresses sustainability across the entire value chain.
“Climate change is a global challenge but at the same time, the demand for energy and resources keeps increasing. This calls for, among others, rapid development, deployment, and adoption of innovative cleantech solutions and we believe the early-stage tech entrepreneur plays a key role by developing cutting-edge technologies, products, and services that support the transition toward sustainable economies while also creating green jobs,” said Saskia Nysschens, Chief Operations Officer at Anza Capital.
As South Africa and Africa’s most ambitious start-ups gather at the Green Energy Africa Summit, the stage is set for a powerful revolution in energy security, propelling Africa towards a brighter, cleaner, and more sustainable future. Find out more about the Cleantech challenge here. Be part of Africa’s energy changemakers by entering the challenge.