KENYA – The Aspen Network of Development Entrepreneurs (ANDE), in partnership with the IKEA Foundation, has announced a new round of grants to advance the circular economy and waste management sectors in Kenya and India.
Six organizations in Kenya and India are set to receive funding through this collaboration, which seeks to empower small businesses to lead the charge in sustainable practices.
The initiative, part of the Investment Innovation Fund, is designed to support small and growing businesses (SGBs) by helping them overcome financial barriers and scale innovative solutions.
ANDE’s research has identified the waste and circular economy sector as a key area for investment, with the potential to generate significant insights and attract substantial financial backing.
Several organizations are leading this transformative effort in Kenya. Circle Innovation and KOIS are launching the “Circularity LaunchPad,” a project that aims to develop innovative financial mechanisms for early-stage investors.
This initiative will help SGBs in the circularity and waste sectors gain traction and secure significant investments.
Smart Regional Consultants (SRC) and Kenya Climate Ventures (KCV) are implementing a comprehensive program to prepare waste and circularity SGBs for investment, including investor matchmaking services to enhance these businesses’ readiness for financial backing.
Agri Frontier is introducing the Agri Frontier Growth Hub accelerator, an 18-month program designed to support waste and circularity SGBs
The goal is to strengthen the pipeline of investment-ready businesses and catalyze US$10 million in investments.
Meanwhile, Sote Hub focuses on accelerating SGBs with innovative green marine plastic waste management solutions in coastal Kenya.
By leveraging digital technology and strategic partnerships, Sote Hub aims to improve regional waste management practices.
In India, the initiative will see Upaya Social Ventures, Global Business Inroads (GBI), and rePurpose Global collaborate to run an investor—and market-led accelerator program.
This initiative aims to increase capital flows to waste and circularity SGBs through comprehensive support.
Additionally, IIM Calcutta Innovation Park will lead a consortium to fast-track the growth of selected SGBs, helping them secure seed funding from investors and accelerating their development in the waste and circularity sector.
The IKEA Foundation, known for its strategic philanthropy, has partnered with over 140 organizations globally to combat poverty and climate change.
The foundation is committed to improving family incomes and safeguarding the planet. To accelerate efforts to reduce greenhouse gas emissions, it has pledged US$1 billion over the next five years.
Since 2009, it has committed over US$1.1 billion to creating transformative impacts in vulnerable African and Asian regions.
ANDE, a global network that supports entrepreneurship in developing economies, has become a key voice in the SGB sector since its inception in 2009.
With nearly 300 members, ANDE provides essential financial, educational, and business support, connecting resources and knowledge to drive inclusive prosperity and sustainable growth in developing regions.
This latest initiative by ANDE and the IKEA Foundation marks a significant step forward in advancing sustainable practices and fostering a circular economy in Kenya. It is anticipated to have broader impacts across Africa and beyond.
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