- NCIC has announced the winners of the third cohort/2022 edition of their annual ideation incubation program for early-stage renewable energy entrepreneurs.
- The ideation-stage businesses that went through the programme received grant funding of $160,000.
With support from All On Hub, Nigeria Climate Innovation Centre (NCIC) has announced the winners of the third cohort/2022 edition of their annual ideation incubation program for early-stage renewable energy entrepreneurs. The winners were Retile, Powerbox Energy Systems, Danwawo Group LTD, Energy Assured, Solaris GreenTech Hub, Nutriden Agriculture Concept, Letcold Nigeria LTD, and Swift Tranzact.
The demo day event took place in Ikoyi, Lagos was funded by The Rockefeller Foundation. The event marked the completion of the Embryo Incubation programme, allowing participants to pitch their business ideas to seasoned panellists who are industry experts for an equity-free grant of $10,000.
At the event, Mr. Bankole Oloruntoba, the CEO of NCIC, reiterated the organisation’s commitment to the growth of renewable energy start-ups in Nigeria. He reflected on the journey of the Embryo Incubation Programme, adding that a total 16 of 50 ideation-stage businesses that went through the programme received grant funding to the tune of $160,000. He charged the entrepreneurs to remain focused and maximise resources available through the NCIC network to accelerate their businesses. This cohort of the incubation programme started in May 2022 and was designed to close Nigeria’s energy access gap by building a pipeline of early-stage renewable energy enterprises with the potential to scale. The training curriculum covered various technical and non-technical subjects, including strategy and planning, product development, regulatory environment, marketing, finance, and fundraising.