Applications open in Africa and Asia for the Adaptation SME Acceleration Project (ASAP)
Village Capital and The Lightsmith Group will accelerate sixteen SMEs and startups that scale climate change adaptation and resilience solutions in Africa and Asia.
WASHINGTON & NEW YORK– (BUSINESS WIRE) –#Abaca–Capital of the village and The Lightsmith group today announced the opening of applications in Africa and Asia for the Adaptation SME acceleration project (ASAP), a program for SMEs and startups that scale market-based solutions to critical challenges of climate adaptation and resilience.
“Accelerating the growth of some climate adaptation solutions companies in developing countries is the latest step in the ASAP strategy,” said Jay Koh, MD, Lightsmith Group. “By connecting the SMEs identified through the Taxonomy of adaptation solutions Using the resources of a world-class accelerator, we can demonstrate how these companies can scale up their solutions to the growing impacts of climate change.
“SMEs and startups provide local and contextualized solutions for adaptation and resilience to climate change in developing countries, but find it difficult to secure funding,” said Adedana Ashebir, Regional Director, Africa and the Middle Orient, Village Capital. “Through ASAP, companies at the intersection of impact, inclusion and investment capacity have a chance to take their ideas from vision to scale.”
as quickly as possible is a grant-funded initiative led by The Lightsmith Group, supported by the Special Climate Change Fund of the Global Environment Facility, Conservation International and the Inter-American Development Bank that seeks to create an ecosystem for small and medium enterprises in emerging markets that have technologies, products and services capable of building resilience to the impacts of climate change.
“The climate adaptation needs of developing countries are immense and diverse, and the private sector plays an important role in bridging the gap. In Asia and Africa, one of the main obstacles to investing in climate resilience is the lack of finance available for small and medium enterprises, ”said Carlos Manuel Rodriguez, CEO and President of the GEF.
Each of the sixteen companies will have the opportunity to work closely with industry experts, investors and ecosystem partners to develop the networks they need to expand their impact.
All startups in the program will be invited to join Abaca, Village Capital’s global online platform that helps entrepreneurs analyze, prepare their businesses for investment, and connect them with the right investors and resources.
Applications close on January 31, 2022. For all the details, click on here.
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