Climate Action Africa (CAA), a leading advocate for climate resilience and sustainable development, has announced the opening of applications for the Deal Room at the 2024 Climate Action Africa Forum (CAAF24).

The Deal Room is a platform that aims to connect high-impact climate innovators in Africa with potential investors seeking to accelerate sustainable solutions.

According to a statement from the organisation, the goal of the Deal Room is to select finalists who will have the opportunity to pitch their innovative ideas and solutions at the upcoming 2024 Climate Action Africa Forum, which will be held in Lagos, Nigeria.

It added that the Deal Room also aimed to create opportunities for innovators in the climate-tech domain focusing on emission reduction, energy, agriculture, transportation, circular economy, and building and construction.

Commenting on the initiative, Co-founder and Executive Director of CAA, Grace Oluchi Mbah, said: “Through the CAAF24 Deal Room, we aim to bridge the critical gap between promising climate ventures and the essential resources they need to thrive.

By facilitating connections between passionate entrepreneurs and dedicated investors, we can collectively unlock the immense potential of climate solutions in Africa.”

She added that the Deal Room aims to boost investments in Africa’s green economy by galvanizing a community of innovators, entrepreneurs, and investors to create applicable solutions that can mitigate the challenges of climate change on the African continent.

According to her, the session would facilitate financing for solutions contributing to the growth and sustainability of Africa’s green economy. The deals, she added, may encompass prize money, equity plans, debt financing, mergers and acquisitions, and other investment options.

To apply for an opportunity to pitch at the Deal Room, CAA said a startup must meet the some criteria. It states that the company must be African-owned and operate in any of the 54 African countries. “It must be a for-profit company, between 1-5 years post-incorporation, post-MVP (minimum viable product), and post-GTM (go-to-market).

“The company should leverage digital technology to deliver its business model. “Female ownership is an added advantage. “Those eligible to apply include venture capitalists, impact investors, climate tech startups, Green SMEs (small and medium sized enterprises), philanthropic organisations, and government representatives.”