Gabriel Budi Sutrisno · · 2 min readEast Ventures, Temasek Foundation launch second climate tech competition
Winners of the 2023 Climate Impact Innovations Challenge / Photo credit: East Ventures
East Ventures and Temasek Foundation are switching it up for the second edition of the Climate Impact Innovations Challenge (CIIC) – a platform where startups and entrepreneurs in Indonesia can showcase their solutions that address ecological issues and climate change.
Just like last year, the 2024 CIIC has a total prize pool of 10 billion rupiah (US$636,000). However, the upcoming competition will focus on three new tracks: energy transition, sustainable agriculture, and circular economy.
These can be solutions that drive the adoption of renewable energy, enhance food production, and improve waste management processes, according to a statement.
Applications are open from March to June 2024. Finalists will be announced in July, with the program ending in September.
The 2023 CIIC saw “abundant enthusiasm and tangible impacts in the climate sector,” said Avina Sugiarto, partner at East Ventures.
Last year’s winners were AfterOil for the renewable energy category, Qarbotech for food and agriculture, Baniql for mobility, and Waste4Change for marine resources.
Earlier this year, East Ventures rolled out a greenhouse gas calculator for Indonesian businesses called Ecovisea. In October 2023, the VC firm launched a US$100 million fund targeting South Korean startups in sectors including greentech and future mobility.
See also: Indonesian startups work to clear the air as pollution grips capital city
Currency converted from Indonesian rupiah to US dollar: US$1 = 15,725 rupiah.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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