infoDev to launch ...

infoDev to launch Climate Innovation Center and network in the Caribbean

In partnership with the Canadian International Development Agency (CIDA), infoDev is preparing a business plan for the development of a Climate Innovation Center (CIC) in the Caribbean. CICs are locally owned and run institutions that provide a suite of services and venture financing that address the specific needs of local climate innovators and companies.

Islands across the Caribbean are faced with the threat of significant damage due to climate change, both in terms of physical damage sustained from intensified weather patterns and rising sea levels, as well as subsequent losses as economies and industries are impacted. Small island developing states (SIDS) face unique challenges such as increased frequency of storms, flooding, erosion of coastal areas, decline of fresh water resources, bleaching of corals, and reductions in tourism as these effects become more severe.

Supporting climate innovation to combat or mitigate these effects provides a unique opportunity to foster and grow a competitive, green growth-oriented technology sector across the region. The CIC will provide assistance to entrepreneurs across a spectrum of activities, from scaling businesses in the climate technology supply chain, to promoting the growth of sustainable agribusiness practices.

Over the next 6 to 8 months infoDev’s Climate Team will engage with a range of stakeholders from across the CARICOM member countries (government, private sector, research community, donors, and NGOs) to analyze the market and technology landscape to map the needs, challenges, and opportunities for climate innovation in the Caribbean.

This analysis will form the basis of the stakeholder-designed business plan for the CIC, which will include the operational and financial plans, the associated staffing structure and the impact, governance and revenue models of the Center.

Image courtesy of Erik Larson.

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