Grand finalists will present their entries at the GGF Sustainable Future Forum in Frankfurt on June 3. Finance in Motion is responsible for the clim@ contest on behalf of the fund. The European Commission and Germany’s Federal Ministry for Economic Cooperation and Development are its sponsors.
More than half of applications came from the target regions, the Green for Growth Fund – GGF said as the deadline expired for its contest for innovative business ideas. The clim@ competition focuses on the fight against climate change and environmental protection across four broad themes: renewable energy, energy efficiency, circular economy solutions and improved resource management.
GGF provides green financing to businesses and households in 19 markets in Southeastern and Eastern Europe, the Middle East and North Africa. There were more than two hundred applications from 60 countries.
The market-ready ideas range from advanced startups to established businesses. Finalists will be invited to pitch at the clim@ finals in Frankfurt on June 2.
Grand finalists will then be invited to present their entries at the GGF Sustainable Future Forum the next day. They will have an audience of green leaders shaping the future of climate action and sustainable investments, organizers promised.
The clim@ competition is organized by Finance in Motion on behalf of the GGF Technical Assistance Facility and sponsored by the European Commission and Germany’s Federal Ministry for Economic Cooperation and Development (BMZ).
The fund has a blended finance structure. It is working through local partner institutions. The event is promoted with tags @ggf_climat and #GGFclimat.
GGF combines financial offering with tailored technical assistance to build capacity and to mainstream energy efficiency measures, renewable energy and improved resource management, the statement adds. In addition, it highlighted its management of environmental and social (E&S) risks associated with its investments as a benchmark for partners.
Episome Biotechnologies, a startup established in Turkey and a finalist at the previous clim@, told Balkan Green Energy News it has been adding clients for its processing solutions for waste paper sludge.