Seven Nigerian start-ups have each received a $10,000 grant for their innovative clean energy concepts.
The award is part of the 2nd edition of the 2021 Enterprise Development Program (EDP), managed by Abuja-based Clean Technology Incubation and Acceleration Foundation, which is in turn supported by the impact investment firm All On, funded by Shell.
A total of 175 entrepreneurs and start-up companies applied to the 2021 Enterprise Development Program. The seven Nigerian clean energy start-ups to receive the award are Brighter, Kodar Embedded Technologies, Osomobegbe Global Ventures, Renerworld Global, Rural LightsUp Energy, Solconomy, and Switch Solar.
For its second edition, the winners were selected from a total of 17 finalists. These companies completed the six-month online incubation program commenced in July 2021. The program culminated in a live demo day event, where the finalists were able to pitch their project, whether it was about innovative energy storage, a mini-grid, electric mobility, AI-driven training platform, energy efficiency & monitoring tech solutions, or waste-to-energy.
Ify Malo, Co-Founder and Executive Director of Clean Tech Hub, said, “We are very pleased with our seamless collaboration with All On for the second year in a row, investing in much needed sectoral development. I implore all cohorts, win or lose, to keep plugging away and building on those innovative ideas you believe in and at some point, that work will be recognized in even greater ways.”
“I learned a lot from the incubation program, from business structuring to financial management and marketing. As a co-founder, it means courage and endless possibilities for women in the renewable energy sector,” said Nentaweh Othman of Osomobegbe Global Ventures (OGV).
Bolaji Onolaja of Switch Solar, said, “The program was very beneficial to the team, and was a great learning experience. We’ve worked hard throughout the year so it’s great being recognised for the work already done…In addition, the affiliation with a large investment company like All On at this stage, gives us access to more resources to scale even quicker.”
Clean Technology Incubation and Acceleration Foundation is a start-up incubator for renewable energy inventions and innovations and a climate investment driver in the African region. The EDP has highlighted the importance of renewable initiatives and collaborations in the growing Nigerian clean energy sector.