African Development Bank (AfDB.org) African Youth Adaptation Solutions Challenge: The Global Center on Adaptation (GCA) and the African Development Bank (AfDB.org) have announced the first edition of the African Youth Adaptation Solutions (YouthAdapt) Challenge.
The African Youth Adaptation Solutions Challenge is part of the Africa Adaptation Acceleration Program (AAAP‘Empowering )’s Youth through Jobs and Entrepreneurship’ pillar (https://bit.ly/2XiudBV), a strategic partnership between the GCA and the African Development Bank used a triple win approach to address the effects of Covid-19, climate change, and poverty, with the goal of galvanising climate-resilient measures.
The competition intends to combine both organisations’ resources, complementary knowledge, and networks to help the “missing middle” of mid-sized businesses with finance, thereby fostering sustainable climate adaption and resilience practises on the African continent.
Winners of the YouthAdapt Challenge will get business grants of up to $100,000 and the opportunity to engage in a 12-month business accelerator programme to help them build up their enterprises, deepen their impact, and generate decent jobs, with a strong focus on youth and gender. In addition, through a network of young entrepreneurs in climate adaptation, the winning youth-led firms will receive mentorship and support to grow partnerships, knowledge sharing, and learning.
About African Development Bank
The African Development Bank Group, founded in 1964, is the continent’s largest pan-African development agency, fostering economic growth and social improvement. There are 80 members, 54 of which are from Africa (Regional Member Countries). The African Development Bank (AfDB) Group is made up of three different entities: the African Development Bank, the African Development Fund, and the Nigeria Trust Fund. The Bank’s primary goal is to promote long-term economic and social growth in its regional member countries (RMCs), thereby helping to alleviate poverty.
Goals and Benefits
With winners receiving a business grant of up to $100,000 each as well as the opportunity to further develop their ventures through business support and acceleration, the YouthADAPT Challenge demonstrates the efficacy and equity of involving young African entrepreneurs in adaptation action, as well as the need to support the ‘missing-middle’ businesses in terms of funding.
- Young entrepreneurs aged 18 to 35 are encouraged to reply to the call for expressions of interest and submit their business plans via the official submission site.
- Businesses must be able to:
- Candidates must be between the ages of 18 and 35 years old.
- Providing climate adaptation or resilience solutions that meet real-world problems
- In Africa, legally registered and running
- Able to demonstrate revenue over a period of at least two years
- Women-owned or led businesses will account for half of the businesses funded.
AfDB African Youth Adaptation Solutions Challenge interview date, process, and location
At the end of the application window on October 6, 2021, twenty youth-led businesses will be shortlisted and invited to submit videos for a judging panel evaluation before the finals and award ceremony at COP26 in Glasgow on November 8, 2021. Ten winners will be chosen during this event, with 50% of them being women-led businesses.
How to Apply for AfDB African Youth Adaptation Solutions Challenge
If you’re interested and qualified, please fill out the form below.
To apply, go to kcicconsulting.com and type in Afican Development Bank.
Visit the AfDB website for additional information.