Climate resilience venture launcher Triggering Exponential Climate Action (TECA) has announced the selection of seven startups to each receive US$55,000 in funding to advance their solutions for the blue economy in Africa.
The TECA programme, managed by BFA Global and supported by FSD Africa, was created to accelerate the development of climate-resilient solutions to protect and sustain the environment and vulnerable communities.
Each selected startup will receive US$27,500 in seed capital and US$27,500 in hands-on venture building support to progress financial and tech-enabled solutions that bolster the climate resilience of communities and ecosystems in and around the oceans, lakes, and rivers across the Eastern region of Africa.
The startup founders were selected following their participation in TECA’s fellowship programme, where they were supported to create ideas for companies in the blue economy, build teams, and form companies. They originate from six countries in Africa – Kenya, Egypt, South Africa, Uganda, Zimbabwe and Tanzania.
Among them are AquaTrack, a data-driven solution for sustainable aquaculture production; Carboni Bank, a community-centered platform for tourists to offset their carbon emissions and support local climate initiatives; ConserVate, which utilises innovative digital technology to build local capacity for monitoring reporting and credible verification (MRV) of conservation impact; and Mwani Blu, which is building a seaweed marketplace with high-level traceability.
The cohort is completed by RegisTree, which is empowering coastal communities to be agents of climate change mitigation by facilitating their role in mangrove restoration and protection; Vua Solutions, a fintech company seeking to provide affordable and responsible financial services to people working in the blue economy; and Wezesha Aqua Farms, which is seeking to address the dwindling wild capture fisheries stocks that negatively impact the livelihoods and socioeconomic status of local fishing communities around the great lakes region in Eastern Africa.
“Through the TECA programme, we are proud to support and accelerate the development of innovative solutions that will protect and sustain the environment and vulnerable communities in the Eastern coast of Africa. These seven startups represent the forefront of the blue economy in Africa, and we look forward to seeing the impact of their financial and tech-enabled solutions on communities and ecosystems,” said David del Ser, chairman and chief innovation officer at BFA Global.
“The ventures that have been formed through the TECA programme are an inspiration. They represent young Africans – including women – coming forward with great ideas and solutions to climate-related challenges, in this case, in the blue economy. I’m proud that FSD Africa is supporting this initiative, which leverages finance and technology to help build resilience and create opportunity in the context of climate adversity. Through our partnership with BFA Global, we plan to roll out TECA beyond the blue economy to also solve for other challenges and geographies across Africa,” said Juliet Munro, digital economy director at FSD Africa.
To further invest in the success of these startups, TECA will provide comprehensive venture building support that includes mentorship, capacity building, business model refinement, and support launching their products and services in the market.
Startups working on climate resilience solutions are encouraged to apply for the next TECA cohort.