East Ventures and Temasek Foundation Hold Climate Change Solution Innovation Competition
The teams will compete to win a total prize of IDR 10 billion
East Ventures and the Temasek Foundation, a Singapore-based philanthropic non-profit organization, launched the program Climate Impact Innovations Challenge (CIIC). CIIC is a competition that provides opportunities for technology innovators to showcase sustainable innovations in overcoming various ecological challenges and reducing the impact of climate change.
The teams will compete to win a total prize pool of IDR 10 billion which will be given to the winners to test their solutions in Indonesia. Not only that, they will also gain global exposure, gain access to investors, and many other perks and benefits.
In the inauguration of the competition which was held yesterday (2/3), Co-founder & Managing Partner of East Ventures Willson Cuaca convey, his party believes that startups and entrepreneur has an important role in overcoming environmental problems faced in Indonesia.
"This program is here to provide an opportunity for innovators to showcase innovative solutions in pressing various urgent environmental problems. We hope that this initiative will inspire and encourage the development of innovations and climate technology solutions that will ultimately contribute to a sustainable future," explained Willson .
Head Programs of Temasek Foundation Lim Hock Chuan added, with abundant natural resources and potential for sustainable development, Indonesia has a unique opportunity to take the lead in tackling climate change. By leveraging the creativity of its people, as well as a dynamic startup ecosystem, Indonesia can significantly contribute towards a more sustainable and resilient future.
"Temasek Foundation is pleased to be partnering with East Ventures to help many innovators and entrepreneurs who can take advantage of opportunities and collaborations to improve their solutions to benefit the ecosystem of Indonesia and its surroundings," said Chuan.
CIIC 2023 focuses on solving four main ecological problems, namely:
- Renewable Energy: Ideas, innovations, and technologies that disrupt how we generate and better adopt and distribute renewable energy, and increase energy efficiency at a low cost and inclusiveness for urban and rural communities.
- Food and Agriculture: New informative solutions to change the quality of the way we grow, produce and distribute food in a sustainable manner with methodologies and solutions that increase affordability, access, nutrition, and reduce greenhouse gas (GHG) emissions and waste, thereby ensuring food security for both urban and rural communities.
- Mobility: New ideas such as services, platforms and technologies to support the growing demand for mobility and sustainable supply chains.
- Marine: Innovative solutions to utilize marine resources in a sustainable manner to ensure the welfare of coastal communities.
The Climate Impact Innovations Challenge will go through several main agendas until September 2023, including:
- Applications Open (1 March 2023 - 26 May 2023) CIIC is currently accepting applicants from qualified teams, only teams that have made trials to manufacture a minimum viable product with a view to commercialization are eligible to apply.
- Participant Selection (27 May 2023 - 24 June 2023),
- Announcement of 12 Finalists (June 2023),
- Mentorship (July 2023), and
- Grand Final (September 2023).
GenZero Chief Executive Officer Frederick Teo who also attended the occasion, said that creativity and innovation are important ingredients for developing and accelerating good impacts related to climate. To make a difference in 2050, entrepreneurs need to identify potential solutions that are emerging today.
He continued, Southeast Asia now occupies the position of being a hotbed of innovation with the number of startups growing by 13 times compared to 2015. However, the region still needs a cumulative investment of $3 trillion by 2030 to transition to a green economy, creating tremendous demand for sustainable solution.
"This makes initiatives like the Climate Impact Innovations Challenge especially relevant because we need a diversity of pathways and solutions to truly achieve a zero-carbon world," he said.
Disclosure: DailySocial.id is a media partner for the Climate Impact Innovations Challenge