Geneva (Switzerland) and Frankfurt (Germany), December, 2021. GreenTec Capital is pleased to share that its CEO & Co-Founder, Erick Yong, participated in a panel discussion as part of the SDG Finance Geneva Summit. The event was organised by the UNDP Geneva and focused on SDG financing in developing countries. GreenTec portfolio company Powerstove also attended for the GSIV pitches.
The panel was moderated by Karen Wilson, Senior Advisor OECD, and included: Agi Veres, Director UNDP Geneva; Veronica Scott, Chairperson Public Sector Solutions of Swiss Re; and Krisztina Tora, Chief Marketing Officer Global Steering Group for Impact Investment.
Erick spoke of a “misalignment” between investment capital and entrepreneurial ventures; and said “Most of the needs of startup companies in Africa are not served because of friction in the value chain.” He added there are solutions, and suggested GreenTec’s Capacity Building offering is a great example of how organisations can help nurture the ecosystem.
Ms. Wilson asked Erick about the increasing focus on gathering and sharing data by organisations, often connected to sustainability reporting. Erick referred to his work over the last year and a half on Axum, a digital platform for sharing and gathering information on companies and with potential investors in Africa. He said, “When we are able to digitise information and data, we can then transfer that knowledge.”
Okey Esse, Founder & CEO of Powerstove, a GreenTec Capital portfolio company, was invited to the summit as well to pitch his SDG startup as a part of the Growth Stage Impact Ventures competition organized by SDG Finance Geneva. Powerstove was selected for their innovative IoT enabled cookstove system that uses smokeless fuel produced from biomass.