nnpc

Eight winners emerge from NCIC off-grid incubation programme

Promoters of the annual Nigeria Climate Innovation Centre’s (NCIC) Embryo Incubation Programme (EIP), yesterday, announced eight winners after the Demo Day Pitch event for the 2021 edition of the series sponsored by the All On Hub.

The winners include: Dalsman Tech, D’Suon Limited, SiriusX Energy, Think Electric, Vectar Energy, WakaGen, YOWIF, and Zimaj Craft Enterprise.

Innovation ideas from this year’s cohort include solar-powered cookstove kiosks, cold storage facilities, e-mobility, energy efficiency technologies, biogas production and systems built on IoT technology.

All On in a statement on its website said 20 clean energy start-ups, from over 400 original applications successfully completed a 6-month incubation programme run by the NCIC.

NCIC is a World Bank-assisted agency created by the Federal Government of Nigeria to lead the growth of the Nigerian green economy in developing and deploying solutions to climate change challenges, with footprints in venture development, green investment and capacity building services to climate-smart entrepreneurs.

The Centre’s main focus areas include renewable energy, waste management, smart agriculture and innovative water solutions.

Commenting on the incubation programme, CEO of NCIC, Bankole Oloruntoba, was quoted: “The businesses have gotten more tangible over the years with more market-ready products and teams.”

He added that “All this has been made possible with the All On partnership, which has been a strong backbone for NCIC’s incubation success. This year we are adding another 8 ventures to our grantees list which makes 16 early-stage ventures granted $10,000. We are pleased to support the investment pipeline currently building up in the emerging Nigeria Green Economy.”

All On, an off-grid energy impact investment firm, said it funded and supported the programme via its technical support facility, the Rockefeller Foundation.

It explained that the ventures presented their ideas during the Pitch Day event held at the Pan Atlantic University to a diverse, experienced panel of judges.

Almost all the participants had innovative solutions and ideas that would radicalise Nigeria’s green economy.

According to judge Kunle Odebunmi, CEO of AllBase Energy, “Almost all the participants had innovative solutions and ideas that would radicalise Nigeria’s green economy. I’m very proud of what NCIC with All On’s support has achieved with the Embryo Incubation finalists. They are all winners in their own right.”

The participants received training and support in a variety of areas aimed at developing their business knowledge and commercial skillset including strategy and planning, product development, regulatory environment, marketing, finance and fund-raising.

Believe Obafaiye, founder of YOWIF (Young Women in Farming) and one of the $10,000 grant winners, commended the EIP for the breadth of its support. “We look forward to achieving positive impact and our desired goals towards organizational improvement,” she added.

“This year’s cohort of entrepreneurs must be commended,” said All On Hub Manager, Sele Inegbedion. “These emerging ventures have demonstrated the commitment and enterprise needed to succeed over time, and scale innovations that will extend the delivery of electrification to unserved communities and ultimately, improve livelihoods and local economies.”

The members of the 2021 cohort are: Dalsman Tech, Darlton Consult, Bebeque Limited, D’Suon Limited, Artec-hubs, DiamundGates Ltd, Trekk Scooters, SiriusX Energy, Susten Solutions, Aglobe Development Center, Drift Power, ArleeGreen Renewables, Vdverts, Think Electric Africa, WakaGen, Zimaj Craft Enterprise, Iyfarm, Vectar Energy, Lanray Technical Solutions, and YOWIF.

All On invests in off-grid energy solutions spanning solar, wind, hydro, biomass and gas technologies deployed by both foreign and local access-to-energy companies that complement available grid power across Nigeria and help bridge its significant energy gap.

Total
0
Shares
Leave a Reply

Your email address will not be published.

Previous Post

StanChart upbeat over Access Bank’s $500m senior unsecured Eurobond

Next Post

DBN promotes MSMEs’ growth, rural electrification with green strategy

Related Posts
Total
0
Share