Published: 20 Sep 2021 805 views
AfDB African Youth Adaptation Solutions Challenge: The Global Center on Adaptation (GCA) and the African Development Bank (AfDB.org) have launched a call for applications for the first edition of the African Youth Adaptation Solutions (YouthAdapt) Challenge.
The African Youth Adaptations Solutions Challenge is part of the ‘Empowering Youth through Jobs and Entrepreneurship’ pillar of the Africa Adaptation Acceleration Program (AAAP) (https://bit.ly/2XiudBV), a strategic partnership between the GCA and the African Development Bank aimed at galvanizing climate-resilient actions through a triple win approach to address the impacts of Covid-19, climate change and the economy.
The competition aims to leverage the resources, complementary expertise and networks of both organizations to support the ‘missing-middle’ of mid-sized companies in the areas of funding, thereby promoting sustainable climate adaptation and resilience practices on the African continent.
Announcing the YouthAdapt Challenge to a group of global leaders at the High-Level Dialogue: The Adaptation Acceleration Imperative for COP26 held in Rotterdam, Netherlands on Monday 6th September 2021, Patrick Verkooijen, CEO of the Global Center on Adaptation said: “Our vision is to empower one million young people in Africa with the financing and skills they need to pursue jobs and careers in climate adaptation. With this new challenge we aim to unlock the business opportunities in adaptation action by innovative youth-owned enterprises and prepare a new generation of African youth for the transition towards green and climate-resilient development.”
“The YouthAdapt Challenge will unleash the entrepreneurial drive and capacities of African youth to grow their businesses, address the continent’s pressing climate challenge and create decent jobs, building a more climate-resilient Africa”, said Akinwumi Adesina, African Development Bank’s President, affirming the Bank’s commitment to invest in the youth.
With a strong focus on youth and gender, winners of the YouthAdapt Challenge will be awarded business grants of up to $100,000 each and the opportunity to participate in a 12-month business accelerator program to help them scale up their businesses, deepen their impact and create decent jobs. In addition, the winning youth-led enterprises will be provided with mentorship and support to expand partnerships, knowledge sharing and learning through a network of young entrepreneurs in climate adaptation.
Established to promote economic and social development efforts on the continent, the African Development Bank (AfDB) Group comprises three entities: the African Development Bank (AfDB) which is the parent institution, created following an agreement signed by 23 founding member states on August 14, 1963 in Khartoum, Sudan. This became effective on September 10, 1964. The group includes two concessionary windows – the African Development Fund (ADF), established on November 29, 1972 by the African Development Bank and 13 non-African countries; and the Nigeria Trust Fund (NTF), set up in 197... continue reading
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| Application Deadline | 06 Oct 2021 |
| Type | Contest |
| Sponsor | African Development Bank Group (AfDB) |
| Gender | Men and Women |
The YouthADAPT Challenge demonstrates the efficacy and equity of involving young African entrepreneurs in adaptation action, the need to support the ‘missing-middle’ businesses in terms of funding, with winners awarded a business grant of up to $100,000 each as well as the opportunity to further develop their ventures through business support and acceleration.
Young entrepreneurs between the ages of 18 and 35 are invited to respond to the call for the expression of interest and submit their business plan through the official submission portal
Enterprises must be:
*50% of the enterprises supported will be women-owned or women-led.
Twenty youth-led enterprises will be shortlisted at the end of the application window on 6th October 2021 and invited to submit videos for a jury panel review ahead of the finals and an award ceremony at COP26 in Glasgow on November 8, 2021. At this event, ten winners will be selected, 50% of which will be women-led enterprises.
For more details, visit AfDB website
