Investor Pitch & Connect in Clean Cooking 2023
Application is open for the Investor Pitch & Connect in Clean Cooking 2023. Globally, 2.4 billion people still lack access to clean cooking, highlighting the urgent need for sustainable action. Achieving universal access to clean cooking by 2030 requires a whopping estimated USD 10 billion annually. However, the current funding falls significantly short, amounting to only tens of millions of dollars, leaving a substantial funding gap in the clean cooking sector.
The limited experience and knowledge of the clean cooking sector is the biggest deterrent for financial institutions and investors. They may be reluctant to provide loans or other financial services due to a lack of understanding of the technologies, business models, and perceived risks associated with the sector. Lower profit margins and longer payback periods are associated with clean cooking technologies. Further, clean cooking solutions often require higher upfront costs compared to traditional cooking methods.
The programme is dedicated to creating a supportive ecosystem that empowers entrepreneurs, enabling them to access finance through robust networks, personalized mentorship, and strategic market connections. It also strives to bolster the capabilities of impact investors, private investors, and financial institutions by equipping them with tailored technical assistance and comprehensive knowledge about the clean cooking sector. This would empower stakeholders to make informed decisions that could have far-reaching benefits for society, economy and environment.
Moreover, this programme is expected to serves as a pivotal starting point in building a sustainable pipeline of both solution companies and investors in the long run. Consequently, India has the potential to emerge as a global hub for clean cooking device solutions, with businesses evolving into solution suppliers for other countries. Notably, the programme welcomes participation from all nationalities worldwide through its virtual platform.
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Eligibility
The Investor Pitching & Connect 2023 is open to all Companies, SMEs, Startups, and Innovators from anywhere in the world involved in the design, manufacturing, supply chain, marketing, funding, and PayGo of modern energy cooking products, solutions, and services. The solutions can be in any stage of Ideation, Pilot, and Scaleup.
Benefits
The objective is to leverage private capital to support innovative clean cooking solutions and services. Eligible ideas and businesses must have a clear and viable business model, as well as the potential for scalability.
MECS Programme is a UK Aid (FCDO) funded global research programme led by Loughborough University and the World Bank’s Energy Sector Management Assistance Program (ESMAP). By integrating modern energy cooking services into the planning for electricity access, quality, reliability, and sustainability, MECS hopes to leverage investment in renewable energies (both grid and off-grid) to address the clean cooking challenge. MECS is implementing a strategy focused on including the cooking needs of households in the investment and action on ‘access to affordable, reliable, sustainable modern energy for all’. In seeking to spark a new approach to clean cooking, the programme researches the socio-economic realities of a transition from polluting fuels to a range of modern fuels and is open to other research and approaches that include other fuels such as ethanol, bioLPG, or hydrogen. Whilst the research covers several clean fuels, the evidence is pointing to the viability, cost-effectiveness, and user satisfaction that energy-efficient electric cooking devices provide.
Application Process
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Fee information: N/A