Cleantech innovation showcased at VEF2018

Cleantech innovation showcased at VEF2018

VIENNA, 15 May 2018 - Innovative cleantech solutions were showcased today during the Vienna Energy Forum 2018 special spotlight on cleantech innovation and entrepreneurship for prosperity.

Cleantech start-ups and small and medium-sized enterprises (SMEs) supported by the United Nations Industrial Development Organization (UNIDO)’s Global Cleantech Innovation Programme (GCIP) were invited to share their technology solutions at the Forum.

All of these innovations have the transformative potential to address energy and climate challenges.

Atomberg Technologies from India, for example, have developed energy-efficient ceiling fans which are 65 per cent more energy efficient than conventional fans. Assuming a market share of 10% in India, the potential energy savings per year are projected to be 3690 GWH, with a potential economic saving of $283m and CO2 emission reduction potential of 3.6m tonnes.

Turkey’s Eriktronik Engineering offers an app to farmers called, which provides users with information for profitable food production using less input for higher yields. This one-stop shop helps them to acquire the best forms of credit, loans and insurance premiums, as well as practical advice. It is an easy but effective way for farmers to cope with the negative effects of climate change and increase transparency for insurance companies.

Investment in climate and clean energy technologies in developing countries is expected to reach $6.4 trillion over the coming decade, with $1.6 trillion of that investment accessible to SMEs. Cleantech SMEs and start-ups in developing countries can generate significant growth and create jobs by seizing the opportunities that come from the multi-trillion USD investments in climate and clean energy technologies.

To be able to fully participate in this newly emerging economic space, developing countries need to design appropriate strategies and targeted support measures to foster endogenous innovation to capture a growing share of this expanding future market and the related employment and industrialization opportunities. It is in this context that UNIDO, through the GCIP, supports innovation related to climate technologies and local manufacturing to enhance the deployment of such solutions,” stated Tareq Emtairah, Director of UNIDO’s Department of Energy.

Following the presentation of the innovation projects, thought leaders and experts in the cleantech innovation space were invited to a panel discussion, which focused on the question, “How can we best upscale cleantech innovations for impact and prosperity?” Panellists exchanged views on the opportunities and challenges of climate technology innovation and entrepreneurship in the context of spurring sustainable development.

The need to facilitate financing of cleantech innovation was emphasized as a major catalyst for accelerating the transition to a cleantech future, with experts sharing their own experiences and examples of best practice at the event..

“Conventional tools of risk analysis cannot provide financiers with an insight into the business cases of cleantech startups and SMEs. The technology appraisal scheme developed by KOTEC assists commercial banks with loan decisions,” stated Kyungjin Hyung, Deputy Director, Korea Technology Financing Corporation (KOTEC).

“We are currently setting up the Clean Future Fund in Turkey to create smart money for smart businesses. We start with special calls for start-ups and large corporations in the cleantech space to create synergies between them,” added Sinan Tandogan, Head of the Entrepreneurship Support, Technology and Innovation Support Programs Directorate, at the Scientific and Technological Research Council of Turkey (TÜBİTAK).

About the Global Cleantech Innovation Programme (GCIP)

UNIDO leads the Global Cleantech Innovation Programme (GCIP) which supports the development of climate and energy technological innovations solutions as profitable business models, by empowering cleantech start-ups and small and medium-sized enterprises (SMEs) and bolstering local innovation and entrepreneurial ecosystems and policy frameworks.

Starting with the pilot in South Africa in 2011, the GCIP has been implemented in a total of eight countries including, Armenia, India, Malaysia, Morocco, Pakistan, Thailand and Turkey. Ukraine is expected to join in 2018. Between 2014 and 2017, more than 850 start-ups have been mentored, trained and supported across the GCIP partner countries, selected from thousands of applicants.

GCIP is a UNIDO flagship programme supported by the Global Environment Facility.

For further information on GCIP, please contact:

Alois Mhlanga


Sunyoung Suh