Jofie Yordan · · 2 min readEast Ventures, Temasek Foundation launch $650k climate tech competition
The launch of Climate Impact Innovations Challenge 2023 / Photo credit: East Ventures
East Ventures and Temasek Foundation have launched a competition called Climate Impact Innovations Challenge (CIIC) in Indonesia.
The challenge provides a platform for startups and entrepreneurs to showcase their sustainable solutions to tackle ecological issues and mitigate the effects of climate change.
Participating teams can win a total prize pool of 10 billion rupiah (around US$650,000) to pilot their solutions in the country.
“We believe startups and entrepreneurs have a critical role to play in addressing the environmental challenges facing the region,” said Willson Cuaca, co-founder and managing partner at East Ventures, in a statement.
The upcoming competition will focus on four main ecological issues: renewable energy, food and agriculture, mobility, and marine resources.
Open applications for the CIIC are open now through May 26. Teams that have “created the pilot to create a minimum viable product with the intention for commercialization” are eligible to join the challenge.
Finalists will be announced by June, with the grand finale set to take place in September.
East Ventures has recently released a white paper on how genomics can improve the healthcare system in Indonesia. (Disclosure: The firm is an investor in Tech in Asia.)
Currency converted from Indonesian rupiah to US dollar: US$1 = 15,283 rupiah.
See also: Can Indonesia’s ESG startups benefit from G7’s $20b commitment?
Editing by Miguel Cordon and Eileen C. Ang
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