Enel Group through Enel Green Power, which is its renewable energy subsidiary, has signed a cooperation agreement with the Switzerland-based group Seedstars World SA for the establishment of the Africa Energy Track challenge.
The Group stated that the competition is aimed at identifying innovative start-ups in the field of electricity access in Africa within the framework of the Switzerland group World start-up competition.
The goal of the project’s, is to enhance technology and entrepreneurship in the sub-Saharan rural areas. This will eventually bring innovative energy solutions focused on electric mobility, energy efficiency, storage, and distributed generation thus tackling UN Sustainable Development Goals, especially SDG7 – which is ensuring affordable and clean energy for all.
The head of Enel Green Power, acknowledged that Seedstars expertise and programs match Enel’s commitment to opening up to new, pioneering startups, seeking innovative solutions to energy and sustainability challenges.
This partnership will give Enel the opportunity to gain access to the most innovative companies thus taking a step forward in the search for new, disruptive business models that can foster socio-economic development in rural Africa.
Through partnership, Enel will also gain exclusive access to Seedstars’ regional competitions in Africa, which will consist in above 20 different local events with the participation of start-ups from various sectors evaluated by juries in the energy field. The winners from these local events will move on to the Regional Summits and Enel wil be selecting at least one start-up in the energy field.
The lucky selected winner will enter a three-month growth and acceleration programme, which includes a financial contribution, provided by the start-up competition group.
Enel explained that through its participation in this project, it aims to identify companies that can help to foster socio-economic development in rural villages in sub-Saharan Africa through electrification.
The Africa Energy Track challenge will help identify innovative and disruptive business models focusing on electrifying remote rural regions and on the creation of related income-generating activities, the Group concluded.