The Global Startup Africa (GSA) awards aims to tackle climate emergency through the support of start-up ecosystems. Global Innovation Initiative Group (Giig) as the exclusive rights holder of the Global Startup Awards aim to support sustainable businesses throughout the continent.
The global finale takes place on Wednesday. Giig founding partner Mahyar Makhzani said the company was prepared to seek, fund and grow sustainable development goal-aligned tech innovation start-ups across Africa.
“While we are delighted that nearly 500 global financial firms have agreed to align $130 trillion (about R2 quadrillion – 40% of the world’s financial assets – to climate change and to limiting global warming to 1.5°C, funding needs to be mobilised to scale innovations so they can have maximum impact.
“For this reason, the Giig Africa Fund is seeking $100 million in capital commitments to invest in tech and innovation in Africa over the next three years,” said Makhzani.
He added that the private sector needed to recognise the role that vehicles such Global Startup Africa play in the finding and growing of start-ups to provide an always-on sustainable pipeline of talent.
Giig founding partner Jo Griffiths believes that start-ups are able to respond to climate crises.
“As Sir David Attenborough said, ’we need to rewrite our story, to turn this tragedy into a triumph … A new industrial revolution, powered by millions of sustainable innovations, is essential and is indeed already beginning. We will all share in the benefits. Affordable, clean energy, healthy air and enough food to sustain us all.’ However, funding is needed to nurture and grow those innovations and forge the revolution ahead,” said Griffiths.
Philip Baldwin, also a Giig founding partner, believes that the competition entrants have proven that there are solutions to improve African lives.
“Our competition entrants have proven that there are solutions available which could make an immeasurable difference to the lives of Africans and those beyond, but without private and public sector commitment and funding, it simply will not work. What’s more, it’s a bankable investment, with past GSA competition winners including five unicorns,” said Baldwin.