East Ventures and Temasek Foundation launch climate-tech challenge
By Sustainability Matters March 15, 2023
- Challenge open to startups globally, has total prize pool of US$656k
- Indonesia very strategic in terms of effort to mitigate climate change
East Ventures and Temasek Foundation have launched a climate-focused innovation challenge in Indonesia. The Climate Impact Innovations Challenge (CIIC) looks to provide opportunities for tech innovators to showcase sustainable innovations in addressing ecological challenges and mitigating the impacts of climate change. The challenge carries a total prize pool of US$656,620 (IDR 10 billion) and is open to startups globally with winners expected to pilot their solutions within Indonesia.
Teams will be competing in four tracks, with each track focusing on specific ecological issues. The Renewable Energy track is open to innovations and technologies that can disrupt the generation and distribution of renewable energy and improve energy efficiency in a low-cost and inclusive manner for urban and rural communities.
Innovations in agri-tech will fall under the Food and Agriculture track. This track will look toward innovations in sustainable food production and distribution, with methodologies and solutions that help to improve affordability, access, and nutrients, as well as reduce greenhouse gas (GHG) emissions and waste.
New services, platforms, and technologies to support the growing demand for sustainable mobility and supply chains will fall under the Mobility track, while solutions to utilize marine resources sustainably for the benefit of coastal communities fall within the Ocean track.
Teams must have a plan to pilot a minimum viable product with the potential to be commercialised in a large market setting to qualify. Shortlisted teams will receive coaching sessions from experts to refine their pitches, with the chance to pitch their solutions at the Climate Impact Innovations Challenge Grand Finale to secure funding.
The CIIC was launched on the 1st of March with Rachmat Kaimuddin, Indonesia's Deputy Coordinating Minister for Infrastructure and Transportation, Coordinating Ministry of Maritime Affairs and Investment in attendance. “We need to keep reminding ourselves that Indonesia is a very strategic country in terms of the effort to mitigate climate change and grow this green economy. We cannot do business as usual as our atmosphere is getting saturated by greenhouse emissions. We want to do it smartly, which at the same time keeps the aspect of developing our economy because economic growth is still vital to solving other issues in Indonesia,” he said.
Willson Cuaca, co-founder and Managing Partner at East Ventures added that startups and entrepreneurs have a critical role to play in addressing the environmental challenges facing the region.
Applications are open from now until the 26th of May 2023. For more information, visit https://climateimpactinnovations.com/
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