It was announced this week that the ClimAccelerator program, aimed at promoting green start-ups, will be held for the first time in Egypt, allowing eco-entrepreneurial business models to be developed more quickly.
The three-month program is a partnership of EIT Climate-KIC, a European knowledge and innovation community co-founded by the European Union, a social enterprise aimed at promoting sustainable development among diverse communities. It is organized in partnership with Youthink Green and Abu Dhabi Commercial Bank. (ADCB).
ClimAccelerator Egypt includes training, mentoring, knowledge sharing, and training designed to build viable business plans, increase climate impact, and secure grants to implement green entrepreneurial projects. Includes market and investor alignment. Said.
She said the purpose of the program is to transform clean tech start-ups into successful businesses, harnessing the power of human ingenuity for rapid impact, and creating a net-zero, resilient future for all. I added that it is to cut open.
The call for applications for the program began last week and the website will continue to accept applications until February 11, Al-Houfi said. She added that the program is looking for talented entrepreneurs looking to grow their businesses into successful solutions that pave the way for a cleaner and more sustainable world.
Applicants must meet certain requirements, such as being primarily in clean technologies such as solar and wind energy, biomass and environmentally friendly products. Requirements also include being innovative and operating for a minimum of two years.
According to Al-Houfi, selected participants will have the opportunity to participate in weekly training bootcamps where experts from around the world will share insights and learn from sessions about the latest tools they use in their core business. provide. , experience running a successful clean technology business.
They will be more in tune with their investment strategy by providing them with the latest tools to help them win funding proposals, gain the exposure they need to real investors, and learn how to properly market their business to attract investment. supported to work.
Christian Berger, head of the Egyptian delegation to the European Union, said the EU is supporting green start-ups and companies looking to find new ways of doing business that are greener. .
“The EU has long been involved in green business as continental Europe wants to become carbon neutral and prevent the climate from getting worse,” Berger said.
Clean technology is the solution to many environmental problems, and supporting sustainability efforts in Egypt has become essential to having a stronger impact on the community, said ADCB’s Communications and Sustainability Director Ines Kadri said.
“The world is going through a difficult time in terms of food security, so we need innovative solutions to solve many problems, especially in food and agriculture,” she noted.
Entrepreneurs from all over Egypt can apply, according to the program, and all companies in the clean tech industry in sectors such as agriculture, environment, clean energy, efficiency, energy storage, transportation, water, construction and architecture are accepted.
The ClimAccelerator program has been running in many countries around the world for the past decade, accelerating hundreds of thousands of transformative startups through radical collaboration and resource sharing.
According to the program’s website, more than €2 billion of capital has been raised in external investments by start-ups, with 40 programs offered worldwide and around 15,000 jobs created since 2020.
* A version of this article appeared in the February 2, 2023 edition of Al-Ahram Weekly.