All On partners NCIC on climate sustainability
The Nigeria edition of the World Bank’s Climate Launchpad (CLP) Global Idea Challenge Competition selected 15 clean technology businesses to be incubated by the NCIC after a nationwide application and rigorous selection process.
The NCIC is set up by the World Bank Group as part of a global network of Climate Innovation Centres located in Asia, Africa, and the Caribbean.
Hosted in the Pan-Atlantic University’s Enterprise Development Centre (EDC) in Lagos.
It was established through a partnership between the World Bank and the Federal Government of Nigeria, the NCIC seeks to accelerate access to energy in Nigeria by supporting and accelerating innovations and early stage enterprises.
Through the CLP, the NCIC has identified 15 early stage Nigerian companies with innovative ‘green’ business ideas and is providing incubation support to ensure they move from the ideation and proof of concept phases to market entry and venture scaling phases.
The funding from All On will be used to support the incubation of these 15 selected clean tech businesses. Some of the companies being incubated include Ubabio Energy, Energija and Eco-LiFe Now.
“It’s a great pleasure to partner with All On to kick-off the NCIC’s incubation programme,” said the inaugural Chief Executive Officer of the NCIC, Mr. Bankole Oloruntoba., who added that: “This is the first of many partnerships that will help in creating a pipeline of viable, clean energy innovation driven ventures and expand the viability of the Nigerian green economy.”
According to Dr. Wiebe Boer, the Chief Executive Officer of All On; an off-grid energy impact investment company backed by Shell, “We are proud to be partnering with the NCIC on the maiden edition of the Climate Launcpad (CLP) in Nigeria.
This partnership will enable All On to identify, accelerate, and scale new indigenous clean energy innovations in the country.’’
Tosin Jolaoye, Co-Founder of Eco-Life Now, one of the businesses from the Climate Launchpad competition, acknowledged the partnership, stating that: “The efforts of All On and NCIC in creating a sustainable energy solution through building viable small businesses in Nigeria has come at the right time and will lead to positive impacts in Nigeria’s alternative energy and power sector.”
All On, an independent impact investing company, was seeded with funding from Shell, and works with partners to increase access to commercial energy products and services for under-served and un-served off-grid energy markets in Nigeria, with a special focus on the Niger Delta.
All On invests in off-grid energy solutions spanning solar, wind, hydro, biomass and gas technologies deployed by both foreign and local access-to-energy companies that complement available grid power across Nigeria and help bridge the significant energy gap.
The NCIC is part of a network of global CICs and is being spearheaded by the Federal Government of Nigeria with technical support from the World Bank Group.
It aims to support Nigerian entrepreneurs and SMEs in developing profitable and context-specific solutions to climate change, particularly the deployment of solar off-grid technologies.
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