Kenyan startups focusing on climate-related initiatives are poised to benefit from a substantial funding opportunity as part of the Climate Tech Accelerator Program.
Pangea Accelerator, a Kenyan-Norwegian accelerator and investment platform plans to select 10 businesses for a six-month program running from February to August 2024.
Startups within the program stand to benefit from receiving funding ranging up to Ksh40 million.
The accelerator program aims to bolster startups operating primarily in areas such as sustainable agriculture, the circular economy, conservation technology, waste management, renewable energy and nature-based solutions.
The overarching goal of the program is to empower these enterprises to enhance their revenue streams, expand their client base, and optimize their operations.
Jonas Tesfu, the Founder of Pangea Accelerator, underscored the significance of the program for startups and small to medium-sized enterprises (SMEs) in the climate tech space.
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He emphasized that the program not only offers funding opportunities but also access to technical expertise and mentorship across various sectors, including nature-based solutions and ocean tech aquaculture.
“The motivation behind the initiative is to address the pressing need for SMEs and businesses to develop climate-focused solutions. Pangea aims to support these ventures, enabling them to achieve success in the evolving climate space,” said Tesfu.
The program is tailored to the specific needs of each business, with a focus on helping them unlock opportunities.
Beyond financial assistance, the program aims to assist businesses in expanding their markets regionally and internationally.
Pangea Accelerator plans to improve operations by facilitating the acquisition of better skills and expertise, while also helping businesses develop strategies and implementation plans for positive growth.