Ventures Platform, a leading early-stage venture capital fund in Africa, has launched a white paper titled Innovating for a Sustainable Future: Leveraging Venture Capital and Startup Innovation to Combat Climate Change in Africa.
Why it matters
Africa, responsible for less than 4% of global greenhouse gas emissions, disproportionately suffers the effects of climate change.
Ventures Platform’s report underscores how African startups and VCs can build climate-resilient business models to tackle these challenges.
The details
• The white paper introduces a three-part framework for adaptation, mitigation, and enabling factors to guide climate innovation:
• Adaptation: Developing climate-resilient infrastructure and sustainable agriculture.
• Mitigation: Promoting renewable energy and sustainable land use.
• Enablers: Enhancing financing mechanisms, policy frameworks, and technological innovations.
• Ventures Platform, while not a climate-specific fund, prioritizes sustainable practices in its investments. Its portfolio includes over 90 startups across fintech, healthtech, and now climate tech, such as ThriveAgric and Rana Energy.
What they’re saying
• Dotun Olowoporoku, Managing Partner: “Climate-resilient business models can unlock sustainability across business, societal, and environmental fronts. Startups like MAX and ThriveAgric demonstrate how tech-driven solutions can contribute locally and globally.”
• Dolapo Morgan, Senior Investment Associate: “Africa must turn its climate challenges into opportunities. This white paper is a call to action for a coordinated African response to scaling climate tech solutions.”
Key recommendations
1. Establish an inclusive climate innovation fund for underrepresented entrepreneurs.
2. Develop Africa-specific metrics for climate startup success.
3. Foster cross-border VC collaborations through networking and joint programs.
4. Conduct sector-specific assessments to identify climate innovation opportunities.
Access the full white paper here.
