17 Early-stage Businesses Commence 2022 NCIC/All On Ideation Incubation Program

Nigeria Climate Innovation Centre (NCIC) with support from All On, is pleased to announce the 2022 edition of their annual ideation incubation program for early-stage renewable energy entrepreneurs.

Bankole Oloruntoba, Chief Executive Officer of NCIC, while addressing the 2022 cohort during the commencement of the program on Thursday, May 12, 2022, via zoom said, as stakeholders, we must continue to support the start-up ecosystem through incubation and innovation-driven programs that portend to solve key socio-economic challenges in the country like access to power through alternative clean sources. Bankole also urged women to participate more in these programs as gender balance is a critical factor for the growth and sustainability of any ecosystem.

The goal of the program which opened applications for new cohorts in February 2022 is to build a pipeline of early-stage renewable energy businesses with the capacity to scale as well as, bridge Nigeria’s energy access gap. The six-month incubation program will give access to business development and mentorship support as well as an opportunity to receive a grant of $10,000 to scale their businesses.

“All On Hub’s partnership with NCIC has helped to nurture ventures that are already delivering on their objectives to transform lives of Nigerians through the provision of clean off-grid energy solutions,” said All On Hub Manager, Sele Inegbedion.  “On the strength of this year’s applicants and the successes of prior cohorts, we are extremely optimistic about the prospects for further breakthrough innovations from within the 2022 cohort.”

The members of the 2022 cohort are: Magtech Digital Hub, Lumos Laboratories, Stellar Power and Energies, Powerbox Energy Systems, Danwawo Group LTD, Energy Assured, Ecovirun, Solaris GreenTech Hub, MadeCore Solar, Green Focus Technologies, Nutriden Agriculture Concept, Manion Power and Energy LTD, Letcold Nigeria LTD, Swift Tranzact, Ceneco Green Power Ltd, Grintech Systems, and Evergreen Technology Enterprise.

A total of 600 applications were received for this year, from which 17 entrepreneurs were shortlisted to participate in the program for the next six months.

Nigeria Climate Innovation Center was created in 2018 by the World Bank and the Federal Government of Nigeria through the Office of the Vice President with the mandate to lead the growth of the Nigerian green economy in developing and deploying solutions to climate change challenges, with footprints in venture development, green investment and capacity building services to climate-smart entrepreneurs. NCIC’s primary thematic areas of engagement include renewable energy, waste management, smart agriculture and innovative water solutions.

All On, an independent impact investing company, was seeded with funding from Shell, and works with partners to increase access to commercial energy products and services for unserved and underserved off-grid energy markets in Nigeria, with a special focus on the Niger Delta. All On invests in off-grid energy solutions spanning solar, wind, hydro, biomass and gas technologies deployed by both foreign and local access-to-energy companies that complement available grid power across Nigeria and help bridge its significant energy gap. The All On Hub is funded and supported by the Rockefeller Foundation.