East Ventures, Temasek Foundation unveil three new tracks for Indonesia’s Climate Impact Innovations Challenge 2024

• Applicants compete for total US$634k prize pool to pilot solutions in Indonesia
• Ignited vibrancy of startup space in driving more sustainable & resilient future

East Ventures, a pioneering and leading sector-agnostic venture capital firm that has supported over 300 tech companies across Southeast Asia, and Temasek Foundation, a Singapore-based non-profit philanthropic organization that supports sustainable development initiatives, have announced the second edition of the Climate Impact Innovations Challenge (CIIC) 2024, Indonesia's largest climate tech innovations competition.

The applicants will compete for a total prize pool of US$634,620 (Rp10 billion) 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. 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,” said Avina Sugiarto, Partner at East Ventures.

“We 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. CIIC 2024 will help them embrace new opportunities and work towards scaling up their solutions that will benefit the Indonesia ecosystem and the region,” said Lim Hock Chuan, Head, Programmes, Temasek Foundation.

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).

For further information, interested parties can visit the CIIC website at climateimpactinnovations.com.