Asia and the Pacific has made great strides in poverty reduction and economic growth, but the region remains off-track to meet all of the SDGs. The world is brimming with technology solutions that conserve energy, improve energy efficiency, and accelerate the adoption of clean energy. These technologies have achieved wide uptake and implementation in developed markets. There is significant potential for impact in developing countries.
There is increasing demand from ADB’s DMCs for technology solutions that contribute to the clean energy transition. ADB Ventures aim to expand non-sovereign operations by filling a market gap for early-stage funding of impact technologies. The new initiatives/facilities are strongly aligned with ADB’s Strategy 2030 because it allows ADB to (i) prepare bankable private sector projects by supporting the incubation and validation of impact technology solutions in DMCs; (ii) further diversify ADB’s non-sovereign portfolio; (iii) widen geographic coverage to frontier markets with potentially higher risk and developmental impacts; and (v) develop new strategic partnerships with financiers, adopters, and providers of innovation and technology-enabled solutions.
The Technology Innovation Challenge (TIC) seeks to find new ways to address development challenges across ADB’s developing member countries (DMCs) through partnerships with technology providers. It invites technology providers to propose a pilot / proof-of-concept on high-level technology and innovative solutions for the announced development challenges. Selected proposals will receive grant, which technology providers can co-finance. The selected technology providers will be expected to (1)Co-invest in testing and independent verification of results; (2)Commit to commercial model for future scale up and implementation; (3)Maintain reference site and/or data for DMCs and future ADB projects . In energy sector TIC its main objectives are 1)CO2 reduction, 2)Increase energy access, in alignment with ADB’s Strategy 2030.
- Showcase Energy Sector TIC and ADB Ventures. Introduce key results from the past year.
- Showcase 6 clean energy companies. (Three of them are selected to provide grant funding through Energy Sector TIC , three of them received equity investment from ADB Ventures)
- Catalyze new commercial and technical partnerships between solution providers and potential customers, investors and other industry stakeholders.
- Enable clean energy solution providers to expand their network and identify new potential partners and customers backed by concrete follow-up requests.
Asian Development Bank (ADB)
The Asian Development Bank is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The company also maintains 31 field offices around the world to promote social and economic development in Asia.
Asian Development Bank (ADB) Ventures
ADB Ventures is the VC arm of the Asian Development Bank. We invest and support in scalable early-stage technology businesses that has the potential to deliver both financial returns as well as significant development and climate impact in Emerging Asia. We leverage our extensive networks and relationships across the region to help the businesses access new markets and partnerships, and to more rapidly scale-up.
Point of Contact
Toru Ito, ADB
Dominic Mellor, ADB