Impact Pioneers Network, a group of investors, awarded extra capital and technical support to three startups that advocate climate change mitigation.
For its recent Climate Catalyst Startup Pitch Competition, the investors group awarded the grand prize of P100,000 to Hive Energy Philippines, a solar energy startup based in Calapan City, Oriental Mindoro which serves residential, commercial, and industrial customers.
Awarded P50,000 was Sinaya Corp., the maker of the Sinaya Cup which is a reusable silicone-made menstrual fluid container for women. It already has over 4,000 users helping reduce the country’s waste from traditional menstrual pads.
Tech support
Both Hive Energy and Sinaya Corp. also received technical support and business mentorship from Impact Pioneers Network.
Meanwhile, third placer Rezbin Waste Technology Inc., won technical support and business mentorship. The startup is involved in the reduction of plastic waste by collecting these from communities for direct transfer to recycling facilities.
Risk capital to entrepreneurs
“Impact investing channels much-needed risk capital to entrepreneurs who are addressing some of the most pressing issues of our time, including climate change. Unlike traditional investments that primarily focus on financial returns, impact investing aims to also generate social and environmental benefits,” Villgro Philippines and co-founder of Impact Pioneers Network Priya Thachadi said.
Impact Pioneers Network aims to fund 100 enterprises in five years with the expertise of Villgro, which started in 2001 in India and expanded in the Philippines, Kenya and the US.