Eight dynamic African women-led businesses have been announced as winners of the 2023 YouthAdapt challenge, receiving grant funding of up to $100,000 each. The initiative aims to support young entrepreneurs in Africa who are developing innovative climate change adaptation solutions.
- Organized jointly by the African Development Bank Group and the Global Center on Adaptation, with support from the Africa Climate Change Fund, the YouthADAPT competition focuses on female-owned enterprises pioneering Fourth Industrial Revolution (4IR) technologies for climate adaptation.
- The winners will not only receive financial support but also benefit from a comprehensive mentorship and coaching program as part of a 12-month accelerator program. Since its launch in 2021, the YouthADAPT initiative has provided over $5 million to 33 young entrepreneurs from 19 African nations.
- The ceremony announcing the winners took place during COP28 in Dubai, with prominent figures highlighting the importance of harnessing youth ideas and creativity to enhance livelihoods and national prosperity.
- The African Development Bank’s President, Dr Akinwumi Adesina, emphasized the commitment to creating 25 million jobs for African youth and investing in their future through initiatives like YouthADAPT.
- Cheryl Urban, Canada’s Assistant Deputy Minister for Sub-Saharan Africa, praised the African Development Bank’s YouthADAPT program for its support in scaling up youth-led climate businesses and innovations in Africa.
- The winning ventures, led by women entrepreneurs, focus on sectors impacted by climate change, such as agriculture, energy efficiency, disaster risk management, water resources, and biodiversity conservation. The grants and support provided will enable these businesses to expand their innovative solutions and contribute to sustainable development across the continent.