Ugandan startup Akatale On Cloud won a $100,000 (about Shs375 million) grant for its online fresh food market during the African Youth Adaptation Solutions Challenge (YouthADAPT) competition.
20 youth-led enterprises from across Africa won the same value of funding in the annual competition that is jointly organized by the Global Center on Adaptation, the African Development Bank, and Climate Investment Funds (CIF).
The program is part of the Africa Adaptation Acceleration Program YouthADAPT flagship pillar.
In addition to the grant, each winner benefits from a 12-month accelerator program to help them grow their businesses, deepen their impact and create decent jobs.
Speaking at the awards ceremony, African Development Bank Group President Dr. Akinwumi Adesina, said: "Africa's needs cannot be ignored. The youth must be at the center of everything we are doing about climate change. No young person is too young to engage in climate dialogue. Our young people must be part of the solution. They are creative, dynamic, and engaging. They are futuristic and must be part of the solution for climate adaptation in Africa.
"We want the youth to speak for Africa and develop solutions for the continent. For this initiative last year, we supported 10 youth-owned and youth-led businesses in Africa with $1 million. This year, we are supporting 20 businesses with $2 million. So, we can expect that next year, we will double our efforts to $4 million dollars. That's the way it's going to go for Africa."
Adesina observed that 80% of the winners' businesses were in agriculture. He said: "Agriculture is the future of Africa. As you know, that has been my gospel for many decades. The lowest bar is for Africa to feed itself. The high bar is for Africa to feed the world. Agriculture is a business. I encourage our young people to do three things: Create, Adapt and Prosper. CAP for short."
The program boosts sustainable job creation by supporting entrepreneurship and youth-led innovations in climate change adaptation and resilience across Africa. The competition invites young entrepreneurs and micro, small, and medium-sized enterprises in Africa to submit innovative solutions and business ideas that can drive climate change adaptation and resilience.
Akatale On Cloud is headed by Frank Mugisha, according to its profile on F6s.com, a startup database.