Facebook-Backed VentureBuilder Launches to Help Struggling Off-Grid Solar Startups Reach More People in Africa

In a bid to increase access to off-grid in parts of that currently lack it, a startup called VentureBuilder launched yesterday.

VentureBuilder wants to provide capital to off-grid solar that cater to the polulace. The venture is backed by , USAID, DOEN , and Shell .

According to Saskia Werther, program at the DOEN Foundation, the foundation has dozens of access initiatives over the years.

“We believe VentureBuilder can be a gamechanger in supporting and scaling indigenous enterprises across Africa, in areas most in need.”

Saskia Werther, program manager at the DOEN Foundation

Advisors

VentureBuilder has been in development since 2017. Facebook provided one of the supports at this , alongside Open Capital and Catalyst Off-grid .

Together, the brought years of experience gathered in advising, building and solar startups to the project.

Raising a type of capital for startups

The capital offered by VentureBuilder operates a new . It is called a “patient” capital.

africa
Solar powered solutions for Africans

With over 600 million in Africa living in off-grid zones and lacking access to electricity, is an obvious market for these off-grid solar startups. , the solar startups often experience a variety of challenges, one of which is distribution.

is how VentureBuilder wants to solve this challenge.

-backed liase with key distributors of off-grid solar products. This is to local solar startups widen their distribution and reach more people.

VentureBuilder also recognises that capacity building is one challenge faced by solar startups which prevents them from expanding.

African

VentureBuilder aims to solve this capacity challenge through trainings. The company will help the existing solar startups to scale by providing technical training and that is relevant to the startups.

“We’re excited to with these local businesses and provide them with the and resources they need to sustainably and profitably scale their impact”.

, Managing of VentureBuilder.

More and more off-grid solar startups are individually innovating products that can help Africa have sufficient and electricity. VentureBuilder’s launch could increase their of survival.

The post Facebook-Backed VentureBuilder Launches to Help Struggling Off-Grid Solar Startups Reach More People in Africa appeared on Technext.

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