10 startups receive R1.1m funding to boost Africa's blue, green economy

1 Jul 2024

BFA Global, FSD Africa, and the International Union for Conservation of Nature (IUCN)have announced the selection of ten innovative, future-looking startups as part of the Africa Blue Wave and Regen Wave initiatives. Each startup is set to receive $55,000 (R1.1m) in funding, to advance their solutions for the blue and green economy in Africa.

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Recognisng the wealth of ideas and the potential of Africa's young innovators, BFA Global, FSD Africa, and the IUCN launched the Africa Blue Wave and Regen Wave initiatives to unlock solutions for Africa’s blue and green economies.

These Waves were implemented by TECA (Triggering Exponential Climate Action), an initiative of BFA Global, with support from OceanHub Africa and funding from FSD Africa and the Canadian Government.

Through a fellowship programme, the Waves supported founders in creating solutions that promote sustainable livelihoods, the use of ocean and freshwater resources, and the restoration and regeneration of landscapes.

The fellowship culminated in a final pitch day, during which founders presented their solutions to a group of advisors, industry experts, and peers.

Founded in seven African countries — Kenya, Madagascar, Mozambique, Nigeria, Rwanda, South Africa and Tanzania - the startup ideas were rigorously evaluated and chosen for their innovative approaches to addressing critical challenges in the fish trade, environmental pollution, renewable energy certification, eco-friendly fertilisers, waste reduction and management, clean cooking, cold storage and sustainable drainage solutions. Notably, 50% of the selected startups are women-led companies.