By Nancy Omolo
The Kenya Climate Ventures (KCV) was officially launched by Prof. Judi Wakhungu, Cabinet Secretary, Ministry of Environment, Natural Resources and Regional Development Authorities (MENR) in July 2016, in Nairobi.
Kenyan startups and entrepreneurs in the green technology space stand to benefit from a $5 million (Sh.5 billion) fund. The climate ventures facility is mainly there to help the startups move to the next level and scale their business. It targets small and medium enterprises that operate in agribusiness, renewable energy and water management sectors. To qualify for funding, startups must have good
management teams to implement their innovative business plans which market green technology products that have a greater competitive advantage.
KCV is part of infoDev’s Climate Technology Programme, within the World Bank Group. In Kenya, it receives direct financial support from bilateral donor agencies including the Danish International Development Agency (DANIDA) and UK’s Department for International Development (DFID). KCV will focus on investing capital (equity or long-term debt) in early stage clean ventures that have already tested the commercial viability of their products and need to commercialize.