Energy Efficiency and
Climate Change Tech Accelerator (CCTA) is coming back for the third time with the new aim to reshape the energy sector towards the SDGs.
UNDP ImpactAim Accelerator in cooperation with Enterprise Incubator Foundation (EIF), ISTC - Innovative Solutions and Technologies Center Foundation is calling Armenian and international tech ventures to apply for Climate Change Technology Accelerator (CCTA) 2020 focused on “Energy Efficiency and Renewables”. UNDP ImpactAim CCTA is funded by UNDP Country Investment Facility, Russia-UNDP Trust Fund for Development, Asian Development Bank Ventures Facility, supported by the Ministry of Environment of the Republic of Armenia and implemented jointly with the Engineering City, which will provide infrastructure, both technical and environmental, to help startups for piloting their projects and National Instruments Armenia.
Innovation is the engine that drives the global energy system's ongoing transformation. A multitude of innovative solutions have been crucial to transforming energy efficiency solutions and renewables into today's competitive energy alternative. In their move to a safe, cost-effective and environmentally sustainable energy supply, renewables and promotion of energy efficiency are becoming the go-to choice for many countries. Green energy supports continued socio-economic development with job creation and community value creation, while fighting climate change and local air pollution at the same time. Given the variability and uncertainty of wind and solar energy sources, innovative solutions are needed to provide the necessary flexibility and adequacy to power systems. At the same time it is a well recognized fact that investment in 1kWh saving is much cheaper than production of 1kWh energy.
CCTA2020 envisions several challenges* of main technologies for reshaping the energy sector:
* The solutions that also target responding urgent challenges caused by COVID-19 in the short and long terms, will be considered as high priority.
What accelerator participants get?
- 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
Participating startups will be guided in all phases of business development, including development of product/service, team composition, value proposition, market strategy, customer traction, business model, funding strategy, etc. Uniquely designed and delivered by UNDP Armenia Impact measurement and management track will guide the selected ventures in all phases of impact model building, and will support to understand how to measure, analyze, report and improve social and environmental performance.
The startups will have the opportunity to work with leading business and tech international mentors.
To fuel the further growth of successful ventures, the program is partnering also with ADB Ventures. ADB Ventures was established in January this year 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 brightest AIM CCTA vol. 3 ventures will be given the opportunity to present their ideas to Granatus Ventures and seek investment from its Granatus Tech4SDG fund. Established with the support of UNDP in Armenia, Granatus Tech4SDG Fund has the vision to support deep tech startups tackling the world’s fundamental problems. The new fund will make investments in technology-driven ventures that demonstrate strong potential for social and environmental impact.