SolarX Start up Challenge:

Introduction

Solar energy is the fastest-growing renewable energy source in Africa. Between 2011 and 2020, solar capacity in Africa grew at an average compound annual growth rate (CAGR) of 54%. Africa possesses some of the world’s most significant solar power generation potential. The continent receives annual average solar irradiation of 2,119 kilowatt hours per square meter (kWh/m2), and the continent’s solar potential is around 7,900 GW (assuming a 1% land-utilisation factor), indicating the vast potential for the generation of solar power. Despite that potential, Africa accounts for less than 3% of the world’s installed renewables-based electricity generation capacity. The utility-scale solar power has been systematically deployed in just a few countries. Moreover, on the investment front, solar PV only attracted USD 18 billion in Africa between 2010 and 2020, which is significantly less than the required capital to meet the continent’s growing energy demand. The huge gap between the present and potential can be abridged by enhanced accessibility for regional innovation, recognition of local innovators, and capacity building across the entire solar value chain.

The SolarX Start up Challenge aims to accelerate investments in solar by creating a pool of entrepreneurs and start-ups in the solar energy sector of ISA Member Countries. The first edition was focused on the African region, aiming to promote innovation, discover local solutions, and enable entrepreneurs with the over-arching objective of building human and institutional capacity to sustain and grow solar businesses. The SolarX Start up Challenge will enable three-fold benefits in technology, finance, innovation, thereby building on the start-up ecosystem of the solar energy sector.

The SolarX Challenge will be a leading force in driving the world’s transformation to a renewable energy economy that promotes innovation in the solar energy space and accelerates a responsible energy transition. The challenge brought together more than 100+ start-ups from across the African solar segments in year 1. Upto 20 new and innovative startups shortlisted and were given technical and financial assistance under this initiative.

In collaboration with Invest India, International Solar Alliance (ISA) launched the first edition of the SolarX Startup Challenge at COP27 on 10 November 2022 at Sharm-el-Sheikh, Egypt, to boost entrepreneurship and startups in the solar energy sector. The first edition of the initiative was initiated for the Africa Region to help address significant energy and investment gaps.

At a side-event of the G20 Energy Transitions Working Group meeting in Goa, the International Solar Alliance, announced the 20 winners of its SolarX Startup Challenge. 20 companies from 10 African countries were declared winners, who will work to increase solar deployment in the Africa Region. Out of the 20 winning companies, 7 are led by women entrepreneurs. Maximum number of winning companies (4) belong to Kenya, and Nigeria, Rwanda, Uganda have 3 winning companies each. Along with a cash grant of USD 15,000 each, the winning startups will receive support from ISA, Invest India, WAIPA, GOGLA and other partner organisations. /p>

Next Steps and Expected Outcomes :

• The applicants were invited to apply by March 31, 2023.
• The evaluation and shortlisting of the applications were completed through June 2o23
• Winners declared at the G20 Energy Transition Working Group Meeting in Goa on 20th July 2023.
• Furthermore, the innovations identified from the program was supported by the ISA, Invest India, and other support partners for wider implementation through Mentorship support programs, Investor connect programs, and Market Access programs that will enable buyer-seller meets in collaboration with the ecosystem, private players, and enablers.
• The acceleration program is being delivered virtually and physically to ensure outreach to all finalists across the continent.