17 July , 2024
AGENCY REPORT
Chief Uche Nnaji, Minister of Innovation, Science and Techology says the Global Cleantech Innovation Program (GCIP) will provide innovative start-ups with accelerated competition based business acceleration.
Nnaji said this when he inaugurated the National Cleantech Innovation Entrepreneurship Ecosystem (CIEE) on Wednesday in Abuja.
“This UNIDO-led initiative, sponsored by the Global Environment Facility (GEF), aims to bridge the gap between Cleantech entrepreneurs and the market, often referred to as ” the valley of death. “
” It would provide competitive, business acceleration services for innovative Cleantwch start-ups and SMEs.
“It seeks to foster an enabling environment for innovative and entrepreneurship, ” he said.
The minister stated that the ministry was proud that Nigeria was among the 15 countries implementing the program.
According to him, it’s inauguration wouid support small and medium enterprises (SMEs), offering innovative Cleantech solutions.
“We recognise the critical role that startups and SMEs play in economic development, enhancing renewable energy access, and contributing to broader climate change actions,” he said.
Nnaji, however, noted that despite all these, enterprises often faced challenges of commercialising and upscaling their solutions due to insufficient policy and regulatory support, limited financing opportunities among others.
He mentioned that the GCIP framework was structured around three pillars; transforming early stage innovative Cleantwch into scalable enterprises.
He said the second was strengthening and connecting the Cleantech innovation and entrepreneurship ecosystem, and ensuring effective project coordination and coherence.
Nnaji also highlighted key areas and components as well as key activities for implementation.
He stressed that the expected outcomes were enhanced knowledge creation and exchange, capacity building among others.
Mr Oluyomi Banjo, the National Program Coordinator, said the CGIP worked directly with entrepreneurs by providing business training and facilitating finance.
He said it also looked at the overall Cleantwch innovation and entrepreneurship ecosystem, contributing to create an environment in which Cleantech enterprises could thrive.
“The ministry has recognised that a resident and effective, innovative system which caters for all the diversities in the country requires the right conditions for innovation amd and entrepreneurship development, ” he said.(NAN)