- 18th March 2021
Launched on 18th March 2021, the African Enterprise Challenge Fund (AECF) Innovation Fund aims to unlock innovations that accelerate access to clean cooking and productive use of energy solutions in seven African Countries; Burkina Faso, Ethiopia, Kenya, Liberia, Mali, Mozambique, and Zimbabwe.
The Innovation Fund, a US$1.2 million facility, is a component of Renewable Energy and Adaptation to Climate Technologies (REACT), that aims to catalyze the private sector to develop new or scale innovative and catalytic approaches to address the low access to affordable and efficient technologies.
Through the fund, technical and financial support will be provided to existing enterprises that are sufficiently developed to address affordability and accessibility of clean cooking, and productive use energy technologies.
The Fund will invest in technologies that meet market needs as well as accelerating the development of existing solutions to better serve African communities and not technologies in the prototype stage.
The Fund builds on AECF’s Renewable Energy and Adaptation to Climate Technologies (REACT) initiative, which was launched to support the private sector to develop and expand its clean energy technologies to Africa’s rural communities.
At a glance:
- The Innovation Fund is a US$1.2 million AECF initiative aimed at surfacing innovations in clean cooking and productive use of energy technologies and services.
- Businesses applying for the fund should submit and validate their state of market readiness for emerging innovations.
- The program builds on AECF’s vision to support the private sector and expand its clean energy technologies to Africa’s rural communities.
Further information on how to apply, including the application link along with details of focus areas, focus regions, products and services supported, and frequently asked questions, is available here.
Questions regarding the application process should be directed to AECF at email@example.com.