Original disclosure @ IFC website
Updated in EWS Apr 24, 2022
Disclosed by Bank Oct 4, 2021
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According to IFC documents, The TechEmerge project will support IFC’s strategy by introducing the best available technologies to IFC clients and prospective clients in the sustainable cooling sector across emerging markets, especially in India through implementing the following 4 main components:
1. Mapping demand and cooling innovation needs across for a representative logistics brand;
2. Screening and evaluation of relevant new and sustainable cooling offered by innovative technology providers;
3. Curating credible innovations; creating linkages between innovators and adopters; and
4. Supporting structuring and financing field test projects (pilots) uniquely tailored to local needs.
The TechEmerge project will leverage and combine IFC’s strong track record in venture capital investing in young companies with its existing network and know-how of 2,000+ investment clients globally who are users of technology. Local corporations in emerging markets often lack collaborations with international and local innovators resulting in sub optimal solutions being scaled up. Hence, the Project also seeks to enhance integration across markets by creating mechanisms that enable the flow of best-in-class cooling technology solutions from around the world to South Asia (India, Bangladesh), by reducing mitigating adoption risks.
The goal of the TechEmerge project is to accelerate the dissemination and commercial adoption of new innovative sustainable cooling solutions/technologies with high development impact potential in emerging markets by leveraging IFC’s global reach.
More specifically, the project aims to:
1. Improve the receptiveness and willingness of corporates in emerging markets, especially India, to adopt innovative and sustainable cooling technologies.
2. Increase the motivation of young technology companies from around the world to adapt and deploy their solutions in South Asia.
3. Refine IFC’s value proposition (investment and advisory knowledge, capability and solutions) for capturing and supporting technology for development impact.
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