81304676-Climate Venture Acceleration Program in West Africa (Francophone)

Over 3 years, the West Africa Climate Venture pre-acceleration programme will support selected climate ventures at the pre-seed funding stage to develop minimum viable climate products or services and to be ready to enter local / regional markets. The pre-acceleration programme will be implemented on a cohort basis, with two cohorts. For each cohort, the programme will be implemented in two phases:

- Phase 1: Climate ventures will be provided with technical assistance with a focus on idea and customer validation over a period of approximately 6 months.

- Phase 2: Climate ventures from phase 1 with the highest business potential and climate impact will be selected for a follow up training of 12 months consisting of a 6-month intense programme followed by 6 months of light mentorship. In addition, all ventures selected for Phase 2 will receive up to EUR 15,000 grant to cover pre-agreed expenses.

In total, the pre-acceleration programme will support approximately 100 Phase 1 climate ventures and 60 ventures that continue with Phase 2. The contract put out on tender is limited to the implementation of the Climate Venture Pre-Acceleration Phase 2 only.

The assignment to be implemented by the contractor, is scheduled to take place between September 2024 and November 2026. During this period, support will be provided to 2 cohorts each consisting of 30 ventures (Cohort A starting Q1 2025 and Cohort B starting Q3 2025).

Each Phase 2 acceleration program shall begin with a meticulous selection process, where promising early-stage ventures from Phase 1 are handpicked. Once selected, the ventures embark on an intensive one week on-site bootcamp. During this time, they receive expert guidance, conduct a need assessment and develop an tailored growth plan. Following the bootcamp, the startup acceleration program continues with remote training modules, allowing participants to fine-tune the plan. To sustain their growth trajectory, startups also benefit from ongoing virtual mentorship, where mentors provide insights, guidance, and support, ensuring the acceleration journey remains impactful and sustainable.

The Acceleration programme shall be built around the following four main components:

Component 1 - Capacity Development and Mentoring: An intensive capacity development program and mentoring sessions will support each climate venture cohort. This program aims to equip them with practical knowledge, proven tools, and real-world case studies, empowering them to strengthen their skillsets and create a robust market-fit product. This includes assisting them in formulating a resilient business model, constructing their Minimum Viable Product (MVP), leading climate mitigation initiatives, and meticulously tracking key performance indicators (KPIs) for implementation. These objectives will be achieved through a combination of intensive bootcamp, hands-on workshops, online masterclasses, and mentoring sessions. To "walk the talk" and offer ventures the best possible support, mentors shall be successful founders (not service providers) who have been through the process themselves, learned the hard way what it means to set up a company and processes. The capacity development program will be designed by the contractor in close coordination with GIZ, Climate-KIC and IPED as Climate-KIC and IPED will both be providing additional training on topics such as ESG and climate impact assessment.

Component 2 - Support from Domain Experts: Ventures should have access to a network of Domain Experts that can be called on to support them with a specific problem. Domain experts have expertise in a specific domain or industry e.g. marketing, customer behaviour, machine learning, UX design, (product) design etc. The involvement of domain experts will increase the likelihood of success for the participating ventures. Their contributions will be instrumental in overcoming technical challenges and shaping the direction of the ventures.

Component 3 - Market Testing and Customer Acquisition: The program shall include a market testing period, where ventures will introduce their product (MVP) to the market and attempt to get early tractions. "Early traction" refers to the stage where a startup begins to gain momentum and attract attention, typically in the form of positive indicators such as user adoption, revenue generation, customer acquisition or other key performance metrics. As such, each venture should have a framework with key performance metrics that support them throughout and beyond the program to refine their business model and strategies based on real-world feedback and data.

Component 4 - Investment Readiness Training: During the execution of the pre-acceleration Phase II program, Climate ventures will undergo an investment readiness training. The purpose of investor readiness training is to empower ventures to navigate the fundraising process successfully. This includes but is not limited to understanding investor expectations, having a long-term fundraising strategy in place, enhancing financial literacy of the founders, developing a compelling pitch document and preparing for due diligence process. Through these trainings, backed up with real data on market tractions, ventures will be prepared to attract and secure investment from external investors.