In the current context of climate change with its adverse impacts on the globe, innovation is expected to play a crucial role in creating avenues for the development of transformative solutions addressing climate change issues. Besides the deployment of public institutions to address climate change challenges, the private sector plays an important role being the main actors creating value through economic activities. In addition, young people have a tremendous potential to create innovative solutions addressing climate change issues proven by the creation of several start-ups with important and long-lasting impacts.
This private sector development can be enhanced by expanding the portfolio of bankable, concept-proofed green business models that are investor-ready to avoid the high rate of failure observed by premature scaling. This calls for the need for strengthening the existing environment with the development of effective tools and mechanisms to catalyze and create an increasingly positive dynamic, enabling the creation of (a) a critical mass of innovators and entrepreneurs in the green sector and (b) startups that can grow beyond early-stage and reach maturation.
The Greenovation project, implemented by United Nations University (UNU-VIE) and a consortium of partners including the Regional Collaboration Center for East and South Africa (RCC EAS Africa), seeks to strengthen the entrepreneurial community with toolkits that support stakeholders with the mandate to support innovators and entrepreneurs in their business development journey.