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Business News of Wednesday, 18 September 2019

Source: Chris Koney

Start-up SETECH wins EDF Pulse Africa Ghana contest

SETECH receiving their award SETECH receiving their award

The Ghanaian start-up company SETECH has been announced as the winner of the Ghanaian stage of the EDF Pulse Africa innovation contest. The challenge aims to reveal and support African innovators committed to the continent's energy development and has been present in Ghana since its launch three years ago. As the winner of the Ghanaian edition, SETECH will participate in the Grand Final which will take place in Paris in November.

Created in 2017, the challenge EDF Pulse Africa aims to support the entrepreneurial dynamic in Africa with two main goals: - to identify potential partners by discovering the "technological nuggets" of the continent; - to support innovation by involving local entrepreneurs in the development of innovative offers.

For this 3rd edition of the challenge, EDF has launched the EDF Pulse Africa Tour: an African tour spanning 7 countries of the continent, aimed at selecting candidates closest to their original economic context. The winner of each national edition is awarded a place in the Grand Final, which will take place in Paris in November.

The third of the seven stages of the Tour took place in Ghana, this Tuesday, September 17, 2019. Five national start-ups had been selected to compete in the Ghanaian final. They presented energy solutions in the following 3 categories: off-grid power generation; electrical power applications and services; access to water through the use of electricity (farming and drinking water). The winner SETECH (SUSTAINABLE ENERGY TECHNOLOGIES LIMITED) produces biomass gasifier stoves with thermoelectric generator providing affordable and clean energy for cooking and lighting for off-grid households. Indeed, SETECH uses innovative business models to enhance access to low income households, addressing to the lack of energy access. The 12v TEG will help generate electricity for 5 bulbs and battery charging.

Entrepreneurs pitched and defended their projects before a panel of experts, such as: AnneSophie AVE, French Ambassador in Ghana; Oliver BOACHIE, Special advisor to the Ministry of Environment, Science, Technology and Innovation; Ashwin RAVICHANDRAN, Managing director MEST Africa; William SENYO, Co-founder & CEO Impact Hub Accra; Stephen ESSIEN, Country managing director ZEGHA.

EDF Pulse Africa: supporting the entrepreneurial dynamic in Africa

With EDF Pulse Africa, EDF wants to become a key player in entrepreneurial innovation in Africa and expand opportunities for future business-oriented partnerships. The contest is open to startups and SMEs with fewer than 50 employees from 54 African countries. The selection process in countries that are not covered by EDF Pulse Africa Tour is carried out following the same scheme as in previous years.

The winners of the Pan-African final will be granted endowments ranging from 5,000 to 15,000 euros, as well as a comprehensive support program: the latter includes operational/financial advice, project development partnerships with local players such as incubators as well as access to EDF’s innovation ecosystem: EDF’s own R&D and creativity labs.

Mr. Olivier Clement, EDF Representative in Ghana said: «The EDF Pulse Africa prize has once again sparked interest of many Ghanaian companies. This third edition brought to relief another set of creative and innovative energy solutions for Ghana and other African countries. All of them are well thought-out, able to address the needs of the local economy and consistent with EDF’s activities in the region.