Autodesk Foundation has entered into a new agreement with the Kenya Climate Change Center (KCIC) to support local startups providing solutions for pressing social and environmental problems.
Autodesk Foundation has made a grant to KCIC to address pressing social and environmental challenges faced by local startups. Specifically, funds from Autodesk will seed an early stage financing facility, through which KCIC will invest in its enterprises to enable them to scale their climate innovations.
“Climate change is one of the greatest design challenges of our time, and addressing it is essential to the long-term success of both business and society. We are happy to partner with KCIC and to announce the companies that will benefit from this partnership. Supporting innovations that are tackling some of the environment challenges that we experience will go a long way in improving the quality of life of many worldwide,” Joe Speicher, Executive Director of the Autodesk Foundation said.
The grant will be invested in startups that are based in Kenya. Their operations should also have impact in the country and should be operating in one of KCICs investment sectors, which include agribusiness, water management, and renewable energy. They must also be an early stage startup that is making revenues.
Already, four startups are already being considered and will be among the first to receive funding once due process is finalized. They include Kings Biofuels Ltd, Wisdom Innovations, Azuri Health Limited and Exotic EPZ.
Since its creation, KCIC has incubated over 160 clean technology businesses out of which more than 80 enterprises have reached commercialization.