Octopus Energy, a member of the Sustainable Markets Initiative’s Africa Council, has launched a competition aimed at accelerating energy innovation in Africa. The competition will identify and support early-stage businesses focused on transforming power distribution, grid management, energy storage and clean energy generation in the continent.
It is open to technologically advanced start-ups with a maximum age of five years and no more than 20 full-time employees. Winners will benefit from mentorship, access to industry insights, and grant funding to help accelerate growth.
Octopus is the leader of the Africa Energy Workstream. It has launched the Energy Entrepreneurship competition against a background in which 685 million people globally are living without access to electricity, and a need in Africa for a reliable and sustainable energy infrastructure.
The competition aims to drive innovation and growth in the African renewable energy sector, and create a vibrant ecosystem where collaboration and knowledge sharing drive the renewable energy sector forward.
The Sustainable Markets Initiative’s Africa Council was launched in November 2023 following a roundtable meeting of leading African CEOs at the United Nations Office in Nairobi during the state visit to Kenya of King Charles III.
Full competition details can be found on the SMI website. The closing date for submissions – which should be made online at octopus.typeform.com/SMIAC – is Monday 4 November 2024. Winners will be announced before the end of the year.
