GCIC awards US$124,900 in grants
Following a competitive pitching process, six Cohort One businesses from the Ghana Climate Innovation Centre (GCIC) have been awarded Proof of Concept (PoC) grants totalling $124,900.
The companies are:
Alchemy Alternative Energy
Ghana Bamboo Bikes
The competitive pitch was open to all 11 ventures within GCIC’s Cohort One businesses. PoC grants are provided by the GCIC to support businesses to determine the viability of their business ideas or business model in the context of climate technology development, deployment or transfer. The six companies awarded PoC grants demonstrated strong potential to positively impact the environment and their communities through mitigation and adaptation to identified challenges in waste management, solar energy, energy efficiency and climate smart agriculture. The disbursement of funds is expected to commence immediately subject to the six businesses meeting certain conditions precedent to disbursement.
The Ghana Climate Innovation Centre (GCIC) is a pioneering business incubator whose objective is to support entrepreneurs and ventures involved in developing profitable and locally-appropriate solutions to climate change mitigation and adaptation in Ghana. The Centre’s key focus is on businesses operating within the areas of energy efficiency, domestic waste management, solar energy, water supply management and purification, and climate smart agriculture. Located on the Ashesi University College Campus in Berekuso, the GCIC currently has 11 entrepreneurs in the incubator and is in the process of recruiting for Cohort Two entrepreneurs.
The GCIC is part of the World Bank’s Climate Technology Program and its global network of Climate Innovation Centres which include centres in Caribbean, Ethiopia, Kenya, Morocco, South Africa, and Vietnam. Supported by the Governments of Denmark and the Netherlands, the Centre is managed by a consortium led by the Ashesi University College and includes Ernst & Young, SNV Ghana, and the United Nations University Institute for Natural Resources in Africa.