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Tuesday, June 18, 2024

Seven renewable energy start-ups awarded $10,000 development grant

Seven renewable energy start-ups who have all demonstrated excellence in innovation will each be awarded $10,000 at the end of the Clean Technology Incubation and Acceleration Foundation (CTIAF) incubation programme sponsored by Shell-funded impact investing firm, All On.

All On
A session organised by All On

The seven companies represent start-up businesses from around the country, whose innovative products span a variety of renewable energy services from mobile solar-powered charging systems, battery operated solar generators, waste to gas technologies and a patented solar inverter system, to name a few.

The training programme, run in partnership with Clintonel Centre (Aba) and Start Innovation Hub (Uyo), sought to identify promising off grid energy start-ups in other emerging centres of technology innovation in Nigeria. The programme has reportedly helped the entrepreneurs to upskill significantly and the grant winners are expected to use the $10,000 to refine their product concepts, build out prototypes, recruit staff and pilot solutions.

“We are particularly proud of our continued collaboration with All On, this time in supporting the upscaling of young, Nigerian entrepreneurs who are the future of the sector,” said Ify Malo, Co-Founder/Executive Director, CTIAF.

The final seven were selected from the 13 businesses that went through the entire incubation process selected from the 107 businesses that applied in May 2020, and were taken through a variety of courses aimed at developing their knowledge and skillsets in the areas of strategy and planning, product development, regulatory environment, finance and capital raising. The objective of the CTIAF programme, according to the promoters, is to incubate energy entrepreneurs with innovative ideas and enable them to move from ideation phase to concept phase.

“It’s been exciting to be part of this process and particularly to see that over half of the participants included in the incubation program were women-led ventures,” said Sele Inegbedion, All On Hub Manager. “This is a deliberate part of All On’s strategy to ensure gender inclusiveness in the growing Nigerian renewable energy sector.”

The All On Hub, which is funded and supported by The Rockefeller Foundation, oversaw the coordination of the training events, which were offered virtually during the Covid-19 pandemic.

“We are proud to again see the All On Hub’s success in identifying, developing and championing innovative sustainable off-grid energy businesses in Nigeria,” said Caroline Eboumbou, Director of The Rockefeller Foundation’s Power & Climate initiative.

“The seven companies receiving the grant are all examples of excellence in their field. These are the kinds of innovators that will change the trajectory of energy access for underserved and energy poor communities in Nigeria – and I for one am excited to see how they will develop as they move forward and bring their visions to life,” Eboumbou added.

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