While Pakistan’s vibrant private sector is steadily emerging as a prominent driver of the green transition, many companies are at the early stages of growth. Thus, there is a pressing market need for targeted SME accelerator services for clean energy companies.
To address this need and support these early-stage green-companies at the Small Medium Enterprise (SME) level, Pakistan Private Sector Energy (PPSE), implemented by the Private Financing Advisory Network (PFAN) that is hosted by United Nations Industrial Development Organization and Renewable Energy and Energy Efficiency Partnership have launched their first-ever accelerator program in Pakistan.
The PPSE Project, funded by USAID, has three main objectives:
- Develop the pipeline of bankable projects for investment through advisory services.
- Strengthen the capacity of financial institutions to assess clean energy projects and mitigate investors’ risk.
- Mainstream investments in low carbon, climate-resilient projects through dedicated support.
PPSE is aiming to reach these objectives by leveraging PFAN’s successful business-building model that has raised over $2Bn of investment for 173 clean energy projects and ventures since 2006, globally. Since PFAN is an impact based-model, it is most relevant for relatively established SMEs that have demonstrated traction and results in reducing carbon emissions.
To strengthen this pipeline of clean energy SMEs and allow a greater number of SMEs to benefit from PFAN’s services, this accelerator has been launched for the first time to help early-stage SMEs mature so that they become ready for PFAN’s advanced advisory and financial services.
Ghazil Jabbar, PPSE Deputy Chief of Party, told ProPakistani that, “PPSE has built capacity with SME entrepreneurs in the clean energy space via accessing top quality advisors at no cost. The programme will further mobilize private sector funding toward climate mitigation projects.”
The accelerator program is delivered by the Network for Global Innovation (NGIN), an international organization with experience and demonstrated success supporting thousands of clean energy entrepreneurs in over 22 countries, including Pakistan.
“As part of this Project funded by USAID, we are very pleased to be implementing this new accelerator that will tap into entrepreneurial innovation and business acumen throughout Pakistan. From our experience supporting thousands of entrepreneurs to date, we have developed an intensive accelerator specifically tailored for clean energy entrepreneurs in Pakistan,” Kevin Braithwaite, Vice President Acceleration, network for Global NGIN, told ProPakistani.
NGIN’s acceleration combined with PFAN’s long-standing advisory and technical experience, the SME Accelerator in Pakistan is a unique opportunity to receive entrepreneurship training, business coaching, and customized support from international and local clean energy experts. 4 months of training will commence for the selected 20 ventures and provide intensive online training and group mentoring followed by 6 months of tailored and rigorous 1:1 coaching for half of these ventures.
Accelerator graduates with the greatest potential will be eligible for investment facilitation support from PFAN.
If you have an early-stage company with a Minimum Viable Product, prototype, and proof of traction in the following sectors, you are eligible to apply to the SME Accelerator:
- Rural Electrification & Energy Access
- B2B Captive & Distributed Generation (eg solar, wind, hydro)
- Bioenergy Rural W2E (Biomass & Biogas for Agriculture)
- Urban Waste Management and Renewable Energy (W2E)
- Recycling & Circular Economy Projects (energy)
- Energy Efficiency
- Industry 4.0 – CE, Digital & Fintech Nexus
- Solar / Wind / Biomass IPPs
You can apply here by 4th October: http://pfan.net/allgemein/pfan-launches-its-flagship-accelerator-in-pakistan/
Submit your Clean Energy SMEs with traction/prototype now at www.smeaccelerator.org