Deadline: 1-Nov-21
If you have an innovative business idea or solution that can contribute to lowering energy consumption, reducing energy bills at the household or industrial level, reducing greenhouse gas emissions, creating jobs, or reducing demand for energy imports, then they want to hear from you!
Share your idea or solution that can contribute to lowering energy consumption, reducing energy bills at the household or industrial level, reducing greenhouse gas emissions, creating jobs, or reducing demand for energy imports.
The start-up competition is part of Central Asia’s Energy Investment Forum 2021: Investing in Energy Efficiency. The forum will take place on 2 December 2021 and is Central Asia’s flagship event to enable private investments in the energy sector.
About $ 400 billion worth of energy sector investment is needed in the region up to 2030. Governments acknowledge that public sector alone will not be able to meet those financing needs. The Energy Investment Forum functions as a key vehicle to attract investors to the region.
What’s in it for you?
- Certificate and Title of Grand Prize Winner of CAREC’s 2nd EIF start-up competition
- Exclusive feature of the start-up company on CAREC Energy’s web portal
- Participation in the next EIF
- Prospect for inclusion in CAREC’s upcoming green energy financing platform as part of the CAREC Green Energy Alliance
Challenge Process
The Challenge consists of several stages:
- Participants should submit their respective solutions on or before the designated deadline. If a Participant does not upload a Deliverable on the Challenge website before the deadline, this will be considered as a withdrawal from the Challenge. The Participant may not join the Challenge and may not obtain any compensation from the Sponsor.
- Up to 4 winning Deliverables will be pre-selected to proceed to the Pitching. Deliverables will be judged according to the Selection Criteria (in the Timeline and Process tab) determined by the jury. You agree and acknowledge that the Challenge relies on your creativity, capacity, ability, and ingenuity to solve difficult problems. The Challenge does not depend, even partially, on chance or luck, and therefore should not be considered as a lottery. Under no circumstances are factors such as appearance, religion, membership in a trade union, political opinions or sexual orientation considered to impact shortlisting probability.
- Shortlisted teams are paired with ADB experts and other subject matter experts to further understand the context of the problem and refine the proposed solution.
- The shortlisted teams will get an opportunity to present their final solutions to the live audience during the CAREC Energy Investment Forum event.
- This Challenge is open to the general public from CAREC countries. Companies must have less than 100 employees and must not be older than 5 years. The Challenge is also offered to:
- Startups
- University Students and Faculty
- Research Organizations and Independent Researchers
- Corporate Partners
- Operating or based in CAREC countries (Afghanistan, Azerbaijan, China, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan)
Criteria Rating
The applications will be evaluated based on the following criteria:
- Relevance to energy efficiency issues in the region
- Unique business proposition to contribute to energy efficiency
- Technological innovation
- National or regional scalability.
For more information, visit https://challenges.adb.org/en/challenges/carec-eif
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