U.Solve #TheGreenChapter
An innovation challenge that is creatively crafted to empower sustainable future by providing a launchpad for entrepreneurs to bring forth solar energy solutions in Gilgit Baltistan and Chitral region.
Program Goals
- To identify existing entrepreneurs who are working towards solving pressing challenges that affect the GBC region. By highlighting region-specific problems, we empower entrepreneurs to develop targeted business solutions that benefit the community as a whole.
- Through our business mentoring/coaching programs we aim to equip entrepreneurs with specialized knowledge and insights tailored to their respective industries and prepare them to attract investments effectively. In short, the goal is to enable them to become investment-ready through AP’s intervention.
- To promote innovation and a problem-solving mindset through encouraging entrepreneurs to think creatively and approach challenges with a solution-oriented attitude.
Problem Statement
- Lack of adoption of alternate energy solutions
- High upfront expenses to adopt solar energy solutions
- Inaccessibility and complex service delivery of solar energy solutions at the consumer level
Eligibility Criteria
1. Entrepreneurs from across Pakistan are eligible to apply but the business solution/s must be specific to the context of Gilgit Baltistan and Chitral (GBC) regions. Women and individuals from GBC are encouraged to apply.
2. Entrepreneurs working in the energy sector with a preference given to those specializing in delivering solar energy solutions.
3. The startups must be at MVP or post-revenue stage.
Components of U.Solve #TheGreenChapter
Advisory Clinics with Subject Matter Experts and Business Coaching
The first two days will be allocated for coaching and mentoring clinic where subject matter experts and business coaches will extend support one-on-one and work with businesses to refine their business and financial models, and sales and marketing strategies.
Entrepreneurs will have the opportunity to engage with subject matter expert who will help entrepreneurs scrutinize the business solution from a technical standpoint and advise on its commercial viability and prepare them to attract investments effectively.
Final Pitch
The third day would be the challenge where entrepreneurs will finally pitch their business solution to the jury.
Subsidized-Debt Financing
The winner will then go through the pre-financing due-diligence process to unlock debt financing (USD 100,000).
Cash Prize
The emerging winner will be awarded USD 10,000 as prize money from partners.
** The prize money will only be awarded if the winner accepts AP’s subsidized debt financing.
Post Financing Technical Assistance
Following are key aspects of post-financing Technical Assistance:
a- Continued business mentoring, coaching and advisory from successful entrepreneurs, investors and AP’s business coaches.
b- Marketing, bookkeeping, and legal services from top-of-the-line services providers, completely free of cost.
c- Market and commercial linkages in various industries nationally and internationally.
**This is exclusively offered to portfolio businesses i.e. businesses that have received financing from AP.
Access to Co-working Spaces
Entrepreneurs, during or after the cycle, will have access to Accelerate Prosperity co-working space available in Gilgit, Chitral at a nominal cost/rental. Space will be equipped with state-of-the-art facilities that enable working, innovative thinking, collaboration, networking opportunities and seeking guidance from subject matter experts, investors, mentors, and other successful entrepreneurs.
Financing
Select businesses who complete the incubation program successfully pitch for APs financing.
Instrument:
Patient debt
Ticket Size:
Patient debt
Interest Rate:
Net 8-12%
Ticket Size:
Up to 10 years
Other Requirements:
Mortgage land or building
