East Ventures, a Southeast Asian sector-agnostic venture capital firm, and Temasek Foundation, a Singapore-based non-profit philanthropic organization that supports sustainable development initiatives, have on Monday announced the second edition of the Climate Impact Innovations Challenge (CIIC) 2024, Indonesia’s largest climate tech innovations competition.

Following the success of the 2023 edition, CIIC 2024 continues to empower tech innovators to showcase their sustainable solutions, the duo said in a statement.

The applicants will compete for a total prize pool of Rp 10 billion ($635,728) to pilot their solutions in Indonesia to tackle various ecological challenges and mitigate the impacts of climate change.

“Climate Impact Innovations Challenge 2023 has presented us with abundant enthusiasm and tangible impacts in the climate sector.

“We are excited to bring back this platform to support and foster climate innovations and ideas,” said Avina Sugiarto, Partner at East Ventures.

“As a strong believer in startup and digital ecosystems, we believe climate tech innovators are pivotal in creating solutions that address today’s problems and pave the way toward a resilient and sustainable future,

“We invite all climate tech innovators in the region and partners to join us in making positive changes that benefit Indonesia and beyond,” she added.

Lim Hock Chuan, Head, Programs, Temasek Foundation, said they are heartened that Climate Impact Innovations Challenge 2023 has ignited creativity and vibrancy of the startup space in driving a more sustainable and resilient future.

“Temasek Foundation is delighted to partner East Ventures once again in this impactful journey to support good innovators and entrepreneurs,

“CIIC 2024 will help them embrace new opportunities and work towards scaling up their solutions that will benefit the Indonesia ecosystem and the region,” he added.

This year, CIIC 2024 focuses on three tracks, which include:

Energy Transition: New innovative ideas and solutions that drive the adoption of renewable energy and contribute to the reduction and removal of carbon emissions, to help communities and industries shift towards energy transition in a low-cost and inclusive manner.

Sustainable Agriculture: New innovative ideas and solutions that enhance food production (plant, cultivate, harvest, process), improve agricultural practices due to climate change, and nature-based solutions that involve sustainable and replicable business models that improve the livelihoods of farmers and food security while reducing soil degradation and carbon emissions.

Circular Economy: New innovative ideas and solutions aimed at enhancing waste management processes and transforming waste into valuable materials, resources and energy, thereby reducing waste sent to landfill and for incineration as well as plastic pollution.

From March to September 2024, CIIC 2024 will have several main agendas, which include:

Application period (March – June 2024)
Application review (June – July 2024)
Announcement of finalists (July 2024)
Mentorship (August 2024)
Grand Finale (September 2024)

The CIIC was inaugurally launched in March 2023 and has been a driving force in fostering innovation and accelerating the development of sustainable solutions.

Last year, the Challenge received over 330 applicants and concluded with the Grand Finale, which was part of the sideline event of the ASEAN Business and Investment Summit 2023.

CIIC 2023 awarded four winners, including AfterOil (Renewable Energy), Qarbotech (Food and Agriculture), BANIQL (Mobility), and Waste4Change (Ocean).

Climate Impact Innovations Challenge (CIIC) is Indonesia’s largest climate innovations tech competition.

Debuted in 2023, CIIC provides a platform for tech innovators to showcase their sustainable innovations in addressing ecological challenges and mitigating the impacts of climate change.

Founded in 2009, East Ventures provides multi-stage investment, from Seed to Growth stage investments, for over 300 tech companies across Southeast Asia.

The firm is an early backer of tech companies in the region, such as Tokopedia, Traveloka, Ruangguru, ShopBack, Waresix, Xendit, IDN Media, KoinWorks, Sociolla, Tech in Asia (acquired by SPH), Kudo (acquired by Grab), Loket (acquired by Gojek), and MokaPOS (acquired by Gojek).

As an investment company headquartered in Singapore, Temasek Foundation supports a diverse range of programs that uplift lives and communities in Singapore and beyond.

Its programs strengthen social resilience, foster international exchange and regional capabilities, advance science, and protect the planet.

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