$1 million Africa Blue Wave initiative to support tech startups in Africa launched
BFA Global, FSD Africa, and the International Union for Conservation of Nature (IUCN) have launched the Africa Blue Wave, a $1 million initiative to support tech startups which will contribute to more sustainable livelihoods and use of ocean and water resources.
This initiative made possible through funding from FSD Africa and the Canadian Government, builds on TECA’s (Triggering Exponential Climate Action) expertise in fostering blue innovation over the last year through a successful pilot wave supported by FSD Africa.
The Africa Blue Wave will support high-potential individuals who demonstrate a passion for addressing climate issues in Africa’s blue economy. It will be implemented by TECA, an initiative of BFA Global, with support from OceanHub Africa.
The wave will recruit 40 innovators from Kenya, Tanzania, Comoros, Madagascar, and Mozambique. Selected participants will receive tailored support in the form of mentorship, guidance from industry experts, networking opportunities, and initial capital investment that can help them build and bring their climate and ocean solutions to market. At the end of the wave, participants will have the opportunity to showcase their solutions and pitch their businesses to investors, potential partners, and industry leaders to secure additional support and investment.
“As we embark on the Africa Blue Wave, we carry with us the invaluable lessons learned from our inaugural wave. These insights will be the cornerstone of our commitment to making this new wave bigger, better, and more impactful than ever before. We’ve demonstrated that solutions can be homegrown by local talent, and I am excited to work with innovators to create more solutions that contribute meaningfully to local and global climate challenges.” Shirley Mburu, TECA Program Director, BFA Global.
“Our investment in TECA is core to our mission of financing innovation and supporting innovation in finance. Through our seeding of TECA’s first blue wave this past year, we have seen firsthand the power of combining young African talent with access to expertise, networks and finance, creating new tech-enabled businesses that are solving for climate issues. We are excited to partner with IUCN and BFA Global on the Africa Blue Wave, extending TECA’s reach to new geographies, new challenges and new innovators, leading to more, new genuinely African climate solutions.” said Juliet Munro, Director Digital Innovation, FSD Africa
“The initiative aims to invest in Africa’s young innovators to catalyse solutions to address ocean challenges and achieve sustained ocean health across five priority seascape areas in Comoros, Kenya, Madagascar, Mozambique and Tanzania. Our long term goal, as envisaged in the Great Blue Wall initiative, is to transform coastal economies into drivers of positive conservation and socioeconomic development. We commend and greatly support Africa’s leadership and efforts in accelerating the development of a regenerative blue economy on the continent,” added Thomas Sberna, Regional Head, Coastal and Ocean Resilience, IUCN Eastern and Southern Africa.
Applications are now open and will close on 15th October 2023.
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