NCIC’s Flagship Incubation Program for Early-Stage Green Ventures
The effects of climate change have birthed a consistent global drive to disrupt energy consumption from fossil fuels to cleaner and more efficient renewable sources which have triggered climate-friendly innovations around the globe in almost all sectors of human endeavour as against Green House Emissions (GHE) through our daily activities.
To this end, the tripartite partnership of Allon, Shell and the Rockefeller Foundation intends to invest and scale early-stage businesses in the renewable energy sector in Nigeria to aid in bridging the country’s power gap through solution driven entrepreneurs, hence the Allon/NCIC Venture Incubation Program (embryo), targeted at scalable early stage RE businesses.
The incubation program will be pipelined by Nigeria Climate Innovation Center (NCIC) as a partnership with Allon to incubate early-stage ventures playing in the renewable energy space. The program is tailored towards equipping the incubates with the requisite and adequate skills to impact and develop their ventures from ideation to profitable full-fledged enterprises. This is to be achieved by a careful and rigorous selection of both online and offline modules, delivered by vetted facilitators, all aimed at achieving the desired goals and objectives of the program.
The first Cohort was of the Embryo Incubation was launched in 2020 and it last for 20 weeks with entrepreneurs going through a rigorous business development program aimed at helping them jumpstart their ideas and transform them into viable ventures. 8 of the selected particpants that went through the incubation program were selected after rounds of pitching and awarded a sum of $10,000.
The winners of the 2020 edition of the Nigeria Climate Innovation Centre’s (NCIC) Embryo Incubation Program, sponsored by the All On Hub, were announced today on the Power Solutions Radio Show on Nigeria Info FM in Lagos and online. They are: Afrinet Power, Bin Energy, Climate Innovation Motors, Homefort Energy, MySolarBid, Quadcycle Nigeria, Sollef and Quadloop.
The call for entries for the second edition of the Embryo Incubation program was launched in December 2020 and it drew applications from all over Nigeria. After several rounds of review by the judges and reviewers, 20 businesses were selected to participate in the second edition of the Embryo Incubation program for 2021.
The second edition of the program will run for 20 weeks and scheduled to start in March 2021 through July 2021 on a virtual platform in response to the covid-19 pandemic. The program aims to accommodate an expected total number of 15 participants (incubates), of which 8 of the most promising ventures will be awarded a grant of $10,000 each at the end of the incubation period.