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Latest News : 2nd edition of the UNDP Growth Stage Impact Ventures

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9 African startups on the list of the 28 selected.

Launched in May of 2020, Growth Stage Impact Ventures has delivered its verdict. African Innovation has not disappointed.

Launched in May of 2020, Growth Stage Impact Ventures has delivered its verdict. African Innovation has not disappointed.

The UNDP has just announced the 28 startups selected for the 2nd edition of its Growth Stage Impact Ventures (GSIV) competition. On the list are 9 African startups working in the fields of Health, Energy and Waste Management.

They are OneWattSolar - GosolarAfrica (Nigeria), BrightGreen Renewable Energy (Kenya), Easy Solar (Sierra Leone), Powerstove (Nigeria), Coliba (Ivory Coast), ColdHubs (Nigeria), mPharma (Ghana), Vula Mobile (South Africa) and Kea Medicals (Benin).

The first four operate in the Healthcare sector, the next two in Energy, and the last three in Waste Management.

Launched jointly by the United Nations Development Programme (UNDP), the Ecole polytechnique fédérale de Lausanne (EPFL), Orange and the German company SAP, the competition aims to identify and promote innovative project leaders in developing countries committed to Sustainable Development Goals (SDGs).

The UNDP press release specifies that the call for nominations was dedicated to companies that have completed their first round of funding. They had to deliver products and services that contribute to reducing gender inequalities, provide the poorest with access to quality health care and clean and affordable energy, and reduce and recycle waste.

According to a press release, the twelve finalist entrepreneurs will be invited to present their products and services at the SDG Finance Geneva Summit, to be held in early 2021 during Building Bridges Week. In addition, they will receive support to implement strategic partnerships to scale up their businesses.

 

In a statement, Sarah Bel, Head of UNDP's SDG Finance Geneva Summit, explains that

"GSIV is a fantastic vehicle for identifying entrepreneurs across the developing world who have strong business models and proven impact. The finalists demonstrate that SDOs are profitable, even in the most challenging contexts and in sectors that are traditionally publicly funded. In a post-Covid-19 world where investment is declining, supporting innovative entrepreneurs in developing countries is a priority".

 

For her part, the "EPFL Tech4Impact" project leader, Julia Binder, would like to point out that

"Unlike the multitude of awards and competitions targeting start-up companies, GSIV companies have the potential to bring rapid and positive change on a large scale, targeting in particular the bottom of the pyramid".

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