COP27-Sharm El-Sheikh, Egypt, 21 November 2022 – Two African startups, BleagLee and LiquidGold in addition to Ryp Labs, Earthly, Koltiva have been announced as winners of the ClimaTech Run 2022 during the COP27 Conference in Sharm, El Sheikh, Egypt.
ClimaTech Run, a global multi-stage program included as part of the preparations for the United Nations (UN) Climate Change Conference (COP27) was this year organised by Egypt’s Ministry of Communications and Information Technology (MCIT), the Ministry of International Cooperation, and the Ministry of Environment in partnership with Afreximbank and other international and local organisations.
The 2022 competition attracted an applicant pool of 422 start-ups from 77 countries. The competition was whittled down to 15 finalists targeting tech entrepreneurs and digital artists, sharing a collective passion for sustainability and a better future for all, while connecting science and creativity through technology.
The eventual winners collected cash prizes as follows: Ryp Labs, Earthly, and Koltiva received $100,000, $50,000, and $25,000 respectively while BleagLee and LiquidGold, received $50,000 and $25,000, respectively. In addition to cash awards, the winners will participate in an acceleration program that offers networking and mentorship opportunities with prominent business leaders.
Presenting the overall winner award to Ryp Labs, President Oramah commented:
“Innovation drives the world. The ClimaTech winners represent the size of talent out there across the world. The world needs them. Your innovation can help save millions today and safeguard the futures of generations. As I present this award to you, I pledge Afreximbank’s full support and cooperation for funding for research, innovation, and entrepreneurship which will steer you and others to the next stage of invention. We hope that with this recognition, you will be able to expand your reach, your knowledge, and your passion to create for the sake of your communities and our world. Congratulations.”
ClimaTech Run was created to connect a global ecosystem that fuels inspiration for climate action and encourage young people worldwide to address the most pressing climate changes.
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About Afreximbank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. The Bank has a rich history of intervening in support of African countries in times of crisis. Through the Pandemic Trade Impact Mitigation Facility (PATIMFA) launched in April 2020, Afreximbank has disbursed more than US$6.5 billion in 2020 to help member countries manage the adverse impact of financial, economic, and health shocks caused by the COVID-19 pandemic. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has completed the development of a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA. At the end of 2020, the Bank’s total assets and guarantees stood at US$21.5 billion, and its shareholder funds amounted to US$3.4 billion. Afreximbank disbursed more than US$42 billion between 2016 and 2020. The Bank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1) and Fitch (BBB-). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.afreximbank.com.
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Media contact: Amadou Labba Sall asall@afreximbank.com