Energy Efficiency

Better hurry: Clim@ Scaler for green businesses closes applications on April 5

Better hurry Clim@ Scaler green businesses applications April 5

Photo: Clim@

Published

March 31, 2022

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Published:

March 31, 2022

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Clim@ Scaler is for ventures that already have customers and revenue and are looking to grow their operations in the areas of energy efficiency, circular economy, resource efficiency and sustainable energy solutions. The call is open until April 5.

Luxembourg-based Green for Growth Fund and early stage investor Rockstart have joined forces to launch the first edition of Clim@ Scaler. The initiative aims to find the most innovative scaleups in energy efficiency, circular economy, resource efficiency and sustainable energy solutions from Southeastern Europe, the European eastern neighbourhood region, the Middle East and North Africa.

Clim@ Scaler will support green businesses in scaling their impact to help solve the climate crisis. Eligible applicants are successfully tackling sustainability issues and looking to scale their climate solutions. The program is for businesses that have customers and revenue and are looking to grow their operations.

Scaleup period is sensitive for emerging businesses

There are three basic phases of growth: startup, scaleup and maturity.

“When scaling up, you’re shedding the agility of the startup phase, but you have not yet achieved the stability of the mature phase. This phase is full of tradeoffs, and a delicate balance needs to be struck. These challenges can catch the ill-prepared founder or CEO off guard, especially if the leader isn’t aware of what stage their company is moving through,” the competition’s organizers said.

Selected green ventures will gain access to a four-month accelerator program

Applications are open until April 5 and the seven finalists will be chosen on April 29. Selected green ventures will gain access to a four-month accelerator program designed specifically for scaleups with an impact business model that are currently based in or expanding their activities into GGF target regions.

Finalists to pitch toward investors, corporate partners

The activities start at the beginning of May. They entail personalized mentorship, interactive training, corporate connections with key industry leaders in the energy, agritech and emerging tech sectors, financial support and an opportunity to pitch toward an audience of relevant investors and corporate partners.

The GGF Technical Assistance Facility will support the finalists’ post-program. The activities are scheduled to last until mid-October. The GGF said the beneficiaries can receive grants and collaboration worth up to EUR 50,000.

The previous editions of the Clim@ competition were focused on showcasing startups.

The Green for Growth Fund invests in measures designed to cut energy use and CO2 emissions, and improve resource efficiency in 19 markets. The public-private partnership provides such financing directly to renewable energy projects, corporates and municipalities or indirectly via selected financial institutions. The GGF’s Technical Assistance Facility maximizes the fund’s investment impact through support for capacity building at local financial institutions and partners.

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