The Climate Change Tech Accelerator is open to applications for startups in the energy sector. This program is suitable for both idea-stage and mature startups.
UNDP Armenia’s ImpactAIM Climate Change Tech Accelerator (CCTA) provides the right resources, mentorship, and support for startups ready to accelerate their success. By leveraging the unique global network and expertise of UNDP CCTA, it aims to scale up the impact of ventures to target the United Nations Sustainable Development Goals (SDGs).
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UNDP ImpactAIM Climate Change Tech Accelerator (CCTA) is coming back for the third time with the new aim to reshape the energy sector for SDGs.
The initiative believes that technology has the power to make the world a better place and invest time and resources into entrepreneurs that are driven by making an impact.
AIM CCTA 2020 brings together technological and innovative ideas, solutions, and products from all over the world to join efforts in reshaping the energy sector for SDGs and contributing to the energy security of countries.
Who Can Apply?
The program is designed for idea, pre-seed, seed, and growth stage startups as well as mature companies.
Also, startup teams and registered companies from all over the world offering innovative technological solutions for the Energy Efficiency and Renewables sector can apply.
Startups both from Armenia and abroad will participate in acceleration programmes and related activities through online and remote communication channels.
Requirements
Applicants are to submit online applications through the GUST platform where they will be required to fill the details of the technical and financial plans of their technology solution. The submitted application must address the relevant CCTA2020 energy sector development challenge and estimate the results they will achieve during a proof-of-concept or pilot of their technology solution.
In short, startups are recommended to:
- Check out the Gust Application form, to prepare the required information and documents before applying.
- Target one of the challenges of CCTA2020 Energy Efficiency and Renewables
- Have at least two founders in the company with a balance between tech and business skills
- Possess a solid MVP prototype, have a clear understanding of the company’s vision and defined goals
- Prepare to show their scalable business model.
Both local and international startups who fulfill the above mentioned requirements, can also apply.
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Benefits
CCTA 2020 Acceleration Program is a 16-week intensive training and mentorship program that will lead the technology startups to become investment and market-ready by providing the following benefits;
- Business Development Support; Participating startups will be guided in all phases of business development, including the development of product/service, team composition, value proposition, market strategy, customer traction, business model, funding strategy, etc.
- International Mentorship; The startups will have the opportunity to work with leading business and tech international mentors.
- Funding; To fuel the further growth of successful ventures, the program is partnering also with ADB Ventures. ADB Ventures was established in January 2020 to support and invest in technology-driven businesses with significant potential to scale and deliver impact. Its inaugural ADB Ventures Investment Fund 1 has a 17-year fund life and supports early-stage and growth-stage cleantech, agricultural technology, fintech, and health technology businesses. Its focus will be on companies with solutions that can address climate change and empower women.
Also, the most promising startups will have the opportunity to:
- To pitch their ideas in front of the evaluating committee who will select the ones worth monetary awards of up to USD 10,000.
- Participate in worldwide startup targeting events (such as WebSummit, Rise Conference, etc.)
- Implement the pilot projects for further scaling in the market
- Pitch face to face or online to worldwide investors
- Be introduced to VCs; investment channels and finance sources
See Also: LabEight Africa Incubator 2020 Program For Entrepreneurs
Selection Criteria
Applications will be selected based on;
Business Model
Does your application response clearly describe;
- The company’s unique value proposition (the business concept),
- How the firm uses its sustainable competitive advantage to perform better than its competitors over time (strategy),
- How the firm can make money now and in the future (revenue model)?
Product
Does your application response clearly describe what you are selling, or plan to sell, to customers?
Innovative Approach
Do you demonstrate an innovative approach in addressing a neglected/ineffectively addressed social and/or environmental problem? The approach could include either an innovative solution and/or an innovative business model. Collaborations with the government, private sector, academia, NGOs, and civil society are in place.
Problem Definition and Impact
The venture’s solution is addressing a clearly defined social and/or environmental problem. The venture has the potential to make an impact on the community, industry sector, and/or geographic location it operates in. The targeted/achieved impact is measurable and can be mapped against Sustainable Development Goals (SDGs).
Market and Scalability
Replicable, scalable business model targeting sustainable operations. There is clear evidence of market demand for the product or service, demonstrated by sales and market share in the country of operation, as well as by interest from partners or customers in other countries.
Social Dimension
There is a clear focus on integrating underserved populations into the value chain of the venture through job creation, capacity building, and empowerment projects, local sourcing of goods and services, etc. There is a demonstrated attempt to strive for equal opportunities (gender, race, religion, etc.) in the team, and other activities of the venture (supply chains, employees, customers).
Team
If the team demonstrates the appropriate skills, motivation, commitment, and ambition to grow the venture and using the program support to scale their solution to other countries.
The deadline for application for the Climate Change Tech Accelerator is July 25, 2020. So, if you meet up the above criteria, apply using this link; https://www.ccta.am/
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