back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Village Capital and The Lightsmith Group to accelerate SMEs across Africa and Asia

By Edlyn Cardoza

December 10, 2021

  • Adaptation SME Accelerator Project
  • Adaptation Solutions Taxonomy
  • Africa
Share

Village Capital, The Lightsmith Group, Africa, AsiaVillage Capital and The Lightsmith Group recently announced that applications have opened in Africa and Asia for the Adaptation SME Accelerator Project (ASAP), a program for SMEs and startups scaling market-based and contextualized solutions to critical climate adaptation and resilience challenges.

“Accelerating the growth of selected climate adaptation solutions companies in developing countries is the key final step in the ASAP strategy,” said Jay Koh, Managing Director of the Lightsmith Group. “By connecting SMEs identified through the Adaptation Solutions Taxonomy to resources of a world-class accelerator, we can demonstrate how these companies can scale up their solutions to the growing impacts of climate change, especially in the places that are most vulnerable.”

“SMEs and startups provide the local, contextualized solutions for climate adaptation and resilience in developing countries,” said Adedana Ashebir, Regional Director, Africa and Middle East at Village Capital, “Despite this fact, many struggle to secure financing and lack the operational capacity to scale their solutions. Through ASAP, companies at the intersection of impact, inclusion, and investability will have a chance to bring their ideas from vision to scale.”

ASAP is a grant-funded initiative led by The Lightsmith Group and supported by the Global Environment Facility’s Special Climate Change Fund, Conservation International, and the Inter-American Development Bank that seeks to build an ecosystem for small- to medium-sized companies in emerging markets that have technologies, products, and services that can be used to build resilience to the impacts of climate change.

“Developing countries’ climate adaptation needs are immense and diverse, and the private sector has an important role to play in filling the gap. In Asia and Africa, one of the biggest barriers to investment in climate resilience is the lack of financing available for small and medium-sized enterprises and their locally developed adaptation solutions,” said Carlos Manuel Rodriguez, CEO and Chairperson of the GEF. “The dedicated climate resilience accelerator under ASAP, a project supported by the Special Climate Change Fund, will help connect small businesses with investors and financing sources that can help them develop and grow innovative and impactful climate resilience products and services.”

Each of the sixteen companies selected for the accelerator will have the opportunity to work closely with industry experts, investors, and ecosystem partners to develop the networks they need to scale their impact. All startups in the program will be invited to join Abaca, Village Capital’s global online platform that helps entrepreneurs analyze and prepare their businesses for investment. The network also matches them with the right investors and resources.

Previous Article

December 10, 2021

Alantra advises Bank North on a senior financing facility to support new lending

Read More
Next Article

December 10, 2021

Broadridge and SLIB joint SRD II proxy voting solution for the French market

Read More










IBSi Daily News Analysis

The Weekly Wrap

October 07, 2022

Adaptation SME Accelerator Project

The Weekly Wrap: all you need to know by Friday COB | Oct 7th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

October 06, 2022

Amazon announces Amazon Catalytic Capital for underrepresented entrepreneurs

Read More

October 06, 2022

Yethi Consulting raises Series A equity funding

Read More

October 06, 2022

Ardian and iCapital partner to broaden private markets investment access for wealth managers

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022