A cooperation agreement was signed between the Association for Sustainable Quality of Living Istidama, an Egyptian NGO that runs the AGGA initiative, and Africa Global Startups, an international independent start-up ecosystem competition; and GSA Africa, Istidama said in the statement.
The GSA, which is headquartered in Budapest and Copenhagen and present in over 124 countries on four continents, works with local, regional, and global ecosystem players to provide awards for innovative start-up ecosystems.
The Africa Grows Green Awards was launched last month -- under the auspices of the Egyptian Ministry of Environment and the Ministry of Industry and Trade -- in celebration of the COP27 set to take place in the Egyptian Red Sea city of Sharm El-Sheikh on 6-18 November.
The AGGA is the African region’s premier celebration of all stakeholders’ efforts to combat climate change, including the COMESA member states, a region that is highly susceptible to climate-induced risks and is currently under the leadership of Egypt and President Abdel-Fattah El-Sisi, as the chair of the COMESA Authority.
The AGGA that seeks to promote entrepreneurship in climate change focuses on recognising initiatives across Africa that use science and technology-based innovations to uplift the conditions of information technology, industry, energy, gender, and agriculture, reads the AGGA website.
The Africa Grows Green Awards comprise four categories. The first is Climate Change Mitigation and Adaptation Technology that targets startups and SMEs. The second, Goes Green, targets female-led start-ups and SMEs.
The third is Green Finance that targets banks, VCs, insurance companies and angel investors, while the fourth, Climate Research and Education, targets academic institutions and innovation centres.
Applications for the awards are submitted through the AGGA's online portal from 27 August to, with the winners to be celebrated in the Green Zone side events at COP 27.
The criteria upon which the awards are based include the ability of candidates to demonstrate impact, innovation, and scalability, the statement added.
Entries are to be scored by independent local and international experts, including Ramon Lopez, head of Innovation Ecosystems Veolia Espana; Hanna Subayi Kamuang, an experienced impact investor in Africa; khaled Ismail, chairman of Himangel; and Hussein Abaza, a member of the Egyptian National Committee for Green Projects.
Egypt has repeatedly said that it will speak up for Africa's aspirations to cope with climate change during COP27, with the country planning to put forward seven Africa-focused initiatives to address climate change during the global event.
Hopes will be pinned during COP27 on turning climate-related pledges into action to help facilitate the move to green energy in order to reduce harmful gas emissions and adapt to climate change as per the Paris Agreement.