Introduction
Innovate UK is inviting ambitious businesses, that are interested in applying to future rounds of Energy Catalyst funding, to apply for an international brokerage trip to Cambodia. Delivered in partnership with Innovate UK EDGE, the programme of support consists of a preparation phase, followed by a 5 day country visit, and post-visit support from Innovate UK EDGE.
Energy Catalyst’s mission is to accelerate the innovation needed to reach sustainable development goal 7 - Affordable and Clean Energy. By providing financial and advisory support to innovators we help create strategic partnerships, uncover insights and develop business models to improve lives in Africa and Asia. In May 2021, £40 million of grant funding (across two funding competitions) was announced. This brokerage visit forms part of the collaboration building to enable businesses to develop equitable partnerships between the UK and overseas organisations.
Why Cambodia?
Cambodia currently has the second lowest electrification rate along southeast Asian countries. 93% of the 17.24m population has electricity access, but there is still a challenge in rural areas where access to grid-energy is almost non-existent. There is an opportunity to develop diverse solutions to provide energy access and security to households in rural areas while also keeping emissions low. Cambodia’s Power Sector Strategy outlines that there is a need to provide a reliable and secure supply of energy nationally at a reasonable price, however many things, such as extreme weather conditions, affect the ability to use oil and coal alternatives. (Source: IEA, World Bank, UNDP)
What to expect:
Energy Catalyst international brokerage is a structured programme around three main phases and each business will have support from Innovate UK EDGE for the duration of the offering, including developing an action plan to capitalise on the opportunities identified. The three main phases are:
• Getting ready: Pre-visit briefing to build knowledge and understanding of the market and potential opportunities, including how to do business, cultural aspects, how to protect your IP and training on how to improve your pitch and articulate your value proposition.
• Market visit: Access to NGOs, local businesses, academics, and governments who will be able to provide information about local opportunities and with potential to become partners.
• Helping you make the best of the opportunity: Support from Innovate UK EDGE to follow up and take advantage of the opportunities identified.