Green Energy Champion Accelerator 2021

The Green Energy Champion 2021, offers an advanced accelerator programme with intense, rapid and immersive training aimed at “accelerating” business growth. It aims to support start-ups and entrepreneurs in driving their mission to create a better future for people and planet. Implemented by Hatch Works and Good Life X, selected participants will be mentored by industry experts and given access to supportive resources and infrastructure to make their ideas market-ready.

The accelerator will offer visibility among key political stakeholders such as the Ministry of Power, State Ministry of Solar, Wind and Hydro Power Generation Projects Development and the German Federal Foreign Office, while also extending potential penetration opportunities in global markets via the Delegation of German Industry and Commerce in Sri Lanka.

Your Benefits

The accelerator will:

  • Help you formulate strategies to achieve a truly sustainable operation in alignment with your company’s vision, mission and objectives.
  • Expose you to partnerships that will provide insight on industry structure and enable you to assess opportunities and overcome barriers to entry.
  • Train you to measure and take calculated risks that will increase chances for smooth entry into local and international markets.
  • Provide you with infrastructure and resources to aid product development and growth for company.
  • Equip you with business and market intelligence that will enable you to establish and grow your business.
  • Will actively supply you with contacts of distributors, potential investors, customers, and media partners from Green Energy Champion‘s broad national/international networks (through the Match-making event)
  • Strengthen you to create a positive impact on the environment and economy.
  • Provide you with guidance on building and testing prototypes.
  • Train you to use available tools (including social media) to push your brand message to a wider audience, opening up opportunities for inspiration, networking and collaboration.

Selection Process

All applications will be evaluated based on the following selection criteria:

    1. Sustainability
      All applicants must submit a project related to at least one of the following areas:
  • Sustainable mobility
  • Energy efficiency
  • Renewable energy
  • Minimum Viable Product
    All applicants must have a minimum viable product – that is, a working prototype or a product that is already out on the market.
  • Technical feasibility
    Each application will be assessed on its technical feasibility. Aspects such as material, labour, transportation, location and the technology used will be scrutinized to gauge overall viability.
  • Financial sustainability
    The application must include financial statements or a budget which details current and forecasted return on investment (see executive summary template).
  • Market fit
    The project should identify a need/problem related to sustainability in the market and provide a solution for it.
  • Scalability
    The product should be able to meet the needs of a broader market – be it global, national or regional. It should have the potential to be relevant to local and/or global markets.
  • Impact
    The project should positively create change, for the community, environment or the relevant industry.
  • Team
    The characteristics of the entrepreneur/team will be assessed on their skills, experience and traits that are fundamental for the growth and success of the business.

Timeline

Activity Dates
Open call for applications 15 April – 29 May
Accelerator Programme July 2021 – December 2021
Partner Matchmaking Event October 2021
Demo Day January 2022

How to apply

To apply for the Green Energy Champion Accelerator 2021, please fill in the online application form. The application should include:

  • A completed online application form
  • The executive summary template with key project details, click here.
  • A presentation/pitch deck of the idea (12 slides maximum, in PDF format)

Access the online application here. Applications must be received before 22nd May, 2021.

Frequently Asked Questions

What happens after I get selected?

You will go through a six month long Green Energy Champion Accelerator program by Hatch in collaboration with Good Life X.

What is an Accelerator Program?

An accelerator program is a short-term growth program that promotes a few years of growth in the span of a few months.

When will I hear about the application?

You will hear from us if you are selected for the interview with our panel of judges in June.

What language is the content delivered in the accelerator program?

English.

What are the selection criteria?

All applicants must have a Minimum Viable Product (MVP) or Prototype with the potential to sustain and scale, and will be reviewed on the technological viability and market fit of the idea, innovation, or product.

What is the difference between previous GEC events and this?

Green Energy Champion 2021 gives the selected participants access to a curated Accelerator program implemented by Hatch in collaboration with Good Life X.

The program actively supports the participants with business and market intelligence to establish and grow their businesses; enable them to identify potential opportunities and take calculated risks for smooth market entry; and offer networking opportunities and exposure to potential partnerships, distributors, investors, customers as well as media partners – while simultaneously enabling participants to create a positive impact on the environment, community and economy.

Does my company need to be incorporated to take part in the Green Energy Champion Accelerator?

You do not need to have your company incorporated. But you have to have at least a prototype or Minimum Viable Product (MVP) of the proposed idea.

Can I still apply on the basis of a prototype, even if I do not have any financial information (revenue etc.)

Yes.

What is a high-level pitch?

Imagine you only have 30 seconds to tell someone what your product/business does. Write it down, say it out loud and time it, before submitting it online.

If I leave the program halfway through, can my business partner take over my spot in the program?

It is the business/project that gets selected for the program. So, if the representative of the business/project has to leave the program halfway, you can do that provided there is a core team representative present during the rest of the program.

What happens after we complete the program?

The accelerator program will be followed by a formal Partner Matchmaking Event – to match local and international partners in the Green Energy ecosystem, and a Demo Day – to showcase the companies completing the program.

Do you provide accommodation/housing for participants?

No.

Is this competition only open for Sri Lankans?

International applicants are welcome to apply provided they have a Sri Lankan cofounder/partner (citizen) who has an equal stake in the business/idea.

If it is a Startup/SME, it has to be incorporated in Sri Lanka. If an unregistered entity/idea stage individual is applying, you have to have a Sri Lankan co-founder/partner with equal shares.

Will my intellectual property be protected?

There is no transfer of ownership of your ideas/concepts involved in the process of the Accelerator program. All the details collected through the executive summary and Google form shall be kept in confidence.

Can I stay in touch with you even after the program has ended?

Definitely.