By Eberechi Obinagwam
Climate Action Africa (CAA), a leading advocate for climate resilience and sustainable development, has announced the opening of applications for the Deal Room at the 2024 Climate Action Africa Forum (CAAF24).
The Deal Room is a ground breaking platform that aims to connect high-impact climate innovators in Africa with potential investors seeking to accelerate sustainable solutions.
According to a release, CAAF Deal Room is a strategic initiative that aims to create opportunities for innovators in the climate-tech domain focusing on emission reduction, energy, agriculture, transportation, circular economy, and building and construction.
It also disclosed that the goal of the Deal Room is to select finalists who will have the opportunity to pitch their innovative ideas and solutions at the upcoming 2024 Climate Action Africa Forum, which will be held on June 19th in Lagos, Nigeria.
The Deal Room aims to boost investments in Africa’s green economy by galvanising a community of innovators, entrepreneurs, and investors to create applicable solutions that can mitigate the challenges of climate change on the African continent. The Deal Room session will facilitate financing for solutions contributing to the growth and sustainability of Africa’s green economy. These deals may encompass prize money, equity plans, debt financing, mergers and acquisitions, and other investment options.
“Through the CAAF24 Deal Room, we aim to bridge the critical gap between promising climate ventures and the essential resources they need to thrive,” says Grace Oluchi Mbah, Co-founder and Executive Director of Climate Action Africa (CAA). “By facilitating connections between passionate entrepreneurs and dedicated investors, we can collectively unlock the immense potential of climate solutions in Africa.”
The eligibility criteria for applying include:
● The company must be African-owned and operate in any of the 54 African countries.
● It must be a for-profit company, between 1-5 years post-incorporation, post-MVP (minimum viable product), and post-GTM (go-to-market).
● The company should leverage digital technology to deliver its business model.
● Female ownership is an added advantage.
Those eligible to apply include venture capitalists, impact investors, climate tech start-ups, Green SMEs (small and medium-sized enterprises), philanthropic organisations, and government representatives.
Following the CAAF24 deal-room will be a post-event accelerator in partnership with the Silicon Valley-based Founder Institute and IDEA Africa. This Africa-wide initiative is specifically designed to further accelerate and enhance support for promising Climate Tech start-ups and founders who participated in the Deal Room. The official unveiling of this accelerator will take place at the Climate Action Africa Forum 2024 (CAAF24), marking a significant step forward in driving Climate Tech innovations throughout Africa.
Applications for the CAAF24 Deal Room are open from April 22nd until May 17th. Interested applicants can register at https://deal.caaf.africa/register.