The two winning projects will focus on finding solutions to the lack of capital for climate entrepreneurs in India
Contact: Antony Maina
Aspen Network of Development Entrepreneurs
Washington, DC, 9 May 2022 – The Aspen Network of Development Entrepreneurs (ANDE) announced today that two organizations in India have been selected to receive funds to implement the collaborative solutions developed within the ANDE India Climate and Environment Action Lab. This funding is part of the support that the IKEA Foundation has provided ANDE to bring together diverse organizations to spur the development of innovative solutions in line with the green entrepreneurship agenda across the Indian and Kenyan ecosystems.
The ANDE India Climate and Environment Action Lab is a practitioner-led working group that employs design-thinking methodologies to discuss, debate, collaborate and solve climate entrepreneurs’ systemic challenges. While undergoing this collective design-thinking process, participants within the India Action Lab refined their solutions’ focus to address the lack of capital for climate entrepreneurs in the region. The two pilot solutions that are generously funded by IKEA Foundation are:
- Climate Seeders Club is a climate tech-focused equity-based crowdfunding platform that will pool small cheque sizes (INR 2-10 Lakhs) from retail investors to invest in early-stage climate tech startups in India in round sizes between INR 25-100+ Lakhs. The platform is being developed by the implementing partner, Climate Collective, which builds startup platforms with an ecosystem approach to support startups in the Startup journey. Additional support is being provided by New Energy Nexus, an international organization that supports clean energy entrepreneurs with funds, accelerators, and networks.
- Outcomes Exchange Platform, developed by Green Artha, is a platform for climate and environment results-based financing that is modeled after an electronic over-the-counter market. Green Artha is a climate venture fund and innovation firm which aims to make a low-carbon economy possible. The implementation of the project will be supported by Villgro Innovations Foundation and World Wildlife Fund India. Villgro is India’s oldest social enterprise incubator, and WWF India is a science-based organization that addresses issues such as the conservation of species and their habitats, climate change, water, and environmental education, among many others.
The Aspen Network of Development Entrepreneurs (ANDE) is a global network of organizations that propel entrepreneurship in developing economies. ANDE members provide critical financial, educational, and business support services to small and growing businesses (SGBs) based on the conviction that SGBs create jobs, stimulate long-term economic growth, and produce environmental and social benefits.
As the leading global voice of the SGB sector, ANDE believes that SGBs are a powerful, yet underleveraged tool in addressing social and environmental challenges. Since 2009, we have grown into a trusted network of nearly 300 collaborative members that operate in nearly every developing economy. ANDE grows the body of knowledge, mobilizes resources, and connects the institutions that support the small business entrepreneurs who build inclusive prosperity in the developing world.
ANDE is part of the Aspen Institute, a global nonprofit organization committed to realizing a free, just, and equitable society.
About the IKEA Foundation
The IKEA Foundation is funded by the INGKA Foundation, owner of the Ingka Group of companies. The IKEA Foundation is independent of the retail business with a sole focus on creating brighter lives on a liveable planet through philanthropy and grantmaking. Learn more at www.ikeafoundation.org