Question 1

What is TECA?

Carmen Merab · Accepted Answer

TECA is a new venture launcher that promotes ambitious and innovative ventures in the area of climate resilience and adaptation. TECA will fund and support high-potential individuals with a demonstrated passion for climate action, to develop ideas into ventures. TECA’s mission is to launch 100 ventures by 2026 to bolster the climate resilience of vulnerable communities and the planet, leveraging fintech and other enabling technologies. In line with our core mission, we aim to build a TECA community to connect a growing network of experts, investors, and other like-minded individuals committed to a climate-resilient future. Our first Wave of entrepreneurs is focused on the Blue Economy in East Africa.

Question 2

What is the blue economy?

Carmen Merab · Accepted Answer

The blue economy comprises those sets of activities generating livelihoods and ecosystem services from bodies of water–oceans, lakes and rivers, while conserving the blue spaces. This includes large and established sectors such as:

All forms of fishing (capture and culture)
Coastal tourism
Shipbuilding, marine transportation and port services
Offshore energy generation

Question 3

What is a fintech venture?

Carmen Merab · Accepted Answer

A fintech venture is a business that leverages financial technology to provide services or solutions.

Question 4

How do I know if I am the right fit for the program?

Carmen Merab · Accepted Answer

We are looking for individuals who are interested in starting their own fintech ventures. The ventures must be focused on providing solutions that sustainably leverage opportunities and mitigate challenges to promote the well-being of communities and ecosystems in and around the oceans, lakes and rivers across the Eastern region of Africa.

Question 5

Can I apply if I do not have a venture idea?

Carmen Merab · Accepted Answer

Absolutely! TECA’s Waves are for individuals who are passionate about launching ventures for climate resilience but are yet to identify investors, teammates, or even solid business ideas. We are here to support you. All you need to bring is your talent and commitment to building climate resilience for vulnerable communities and our planet.

Question 6

What are you looking for in founder profiles?

Carmen Merab · Accepted Answer

Entrepreneurial mindset
Results oriented
Team player
Strong work ethic
Passion for climate resilience
Aim for impact
Experience related to at least one of the fields:

- Business, commercial, marketing and operations
- Technology and data science
- Marine science, conservation and environmental science
- Product management and design

Question 7

How many TECA Founders are you looking for?

Carmen Merab · Accepted Answer

For our first wave, we are looking for 40 talented individuals with a demonstrated passion for climate action to join our venture launcher.

Question 8

Which geographic areas can founders apply from?

Carmen Merab · Accepted Answer

We are primarily looking for fellows with the following nationalities:
Kenya, Uganda, Rwanda, Tanzania, Burundi, Mauritius, Seychelles, Zambia, Mozambique, Madagascar, Comoros, Malawi, Eritrea, Djibouti, Ethiopia, Sudan, Egypt and South Africa.

However, we will also consider other nationalities as well.

In this wave, we are particularly interested in launching ventures with operations and activities in Eastern Africa.

Question 9

What will the program look like?

Carmen Merab · Accepted Answer

A TECA Blue Wave is organized in the following three phases from April 2022 to February 2023. However, upon selection to become a TECA founder, active engagement in the program will run between end of August 2022 and February 2023 depending on whether respective individuals and their teams qualify to progress to the end - TECA graduation. The phases are broken down as follows:

Summoning (Apr - Aug 2022): recruiting 40 Fellows to work on ideas as well as the broader community to support them
Genesis (Team and venture formation for 6-8 weeks between Aug - Oct 2022): onboarding the Fellows and supporting them as they develop teams around a problem and a solution. Culminates in an “Idea pitch day” which will see 7 teams progressing to the next phase.
Traction (Product building and validation for 3 months between Nov 2022 - Feb 2023): supporting the teams to prototype, test and refine their ideas turning them into viable solutions. Teams will receive USD 55,000 in form of grant funding and technical assistance during this phase to build their products and ventures. This phase will culminate in “TECA graduation day” where the 7 ventures will pitch to a pool of external investors to receive funding for launching their solutions and growing their market fit.

Question 10

What is the program duration?

Carmen Merab · Accepted Answer

Upto 6.5 months upon being selected to engage as a TECA founder.

Question 11

What is the time commitment expected?

Carmen Merab · Accepted Answer

Approximately 20 - 25 hours per week of your time during the team and venture formation stage. If you can dedicate more time, you will likely increase your chances of success. Once your venture is selected for the venture building stage, we’ll expect you to work on it full-time.

Question 12

Do I have to quit my job to be part of TECA?

Carmen Merab · Accepted Answer

In the initial team/venture formation phase, you do not need to quit your job, however, we ask that you commit at least 50% of your time to the TECA fellowship program. If your venture is selected by the investor committee as one of seven investible entities to receive USD 55,000 (split across funding and technical assistance), you will then be required to be fully committed. Otherwise, you would be hurting the chances of success for the venture and your teammates. Launching startups is hard and the founding team needs to be fully focused to have a real chance of success.

Question 13

Do I need to find a co-founder if I already have a team?

Carmen Merab · Accepted Answer

The program will support you in forming teams with other fellows.

Question 14

When will I know if I have been accepted into the program?

Carmen Merab · Accepted Answer

The program will be making decisions on a rolling basis. The final decision with all the fellows for the program will be made by the end of July. However, you will receive communication on whether you have passed the various interview rounds.

Question 15

Do I have to relocate for this program?

Carmen Merab · Accepted Answer

No, you do not. The program will run from August 22nd, 2022 to February 15th, 2023. You will be expected to attend one in-person session in September that will last approximately 1 week.

Question 16

What will I get from this program?

Carmen Merab · Accepted Answer

In 6 months, we help you transform from a passionate individual to a founding team member behind a climate startup. If you join our program, you will get the following:

A monthly stipend
Personal support such as coaching and mentoring
Exposure to peers that can become co-founders in ambitious climate startups
The ability to explore and launch new ideas around the blue economy
Learning sessions to help you grow as an entrepreneur and leader
The opportunity to pitch an investor committee and to receive $55K in funding to form your venture (50% in cash, 50% in services from our venture building team)
Plus, you will join and play a central role in an active network of experts, investors, and others committed to a climate-resilient future

Question 17

What are some examples of ideas and solutions that might be developed?

Carmen Merab · Accepted Answer

Cold chain logistics
Solutions to protect and regenerate marine ecosystems
Seafood products
Ocean waste management
Blue carbon finance
Embedding fintech in smart gear
Sustainable aquaculture
Early warning systems & data

Question 18

Do I have to pay anything?

Carmen Merab · Accepted Answer

NO. There are absolutely no fees to pay to participate. In fact, we will pay you a stipend so you can focus on this critical work.

Question 19

I have a question that is not answered here. Who can I ask?

Carmen Merab · Accepted Answer

Send an email to the TECA team. You can also join our climate community through this link to learn more or be a part of the next information session.

Question 20

What is TECA?

Carmen Merab · Accepted Answer

TECA is a new venture launcher that promotes ambitious and innovative ventures in the area of climate resilience and adaptation. TECA will fund and support high-potential individuals with a demonstrated passion for climate action, to develop ideas into ventures. TECA’s mission is to launch 100 ventures by 2026 to bolster the climate resilience of vulnerable communities and the planet, leveraging fintech and other enabling technologies. In line with our core mission, we aim to build a TECA community to connect a growing network of experts, investors, and other like-minded individuals committed to a climate-resilient future. Our first Wave of entrepreneurs is focused on the Blue Economy in East Africa.

Question 21

What is the blue economy?

Carmen Merab · Accepted Answer

The blue economy comprises those sets of activities generating livelihoods and ecosystem services from bodies of water–oceans, lakes and rivers, while conserving the blue spaces. This includes large and established sectors such as:

All forms of fishing (capture and culture)
Coastal tourism
Shipbuilding, marine transportation and port services
Offshore energy generation

Question 22

What is a fintech venture?

Carmen Merab · Accepted Answer

A fintech venture is a business that leverages financial technology to provide services or solutions.

Question 23

How do I know if I am the right fit for the program?

Carmen Merab · Accepted Answer

We are looking for individuals who are interested in starting their own fintech ventures. The ventures must be focused on providing solutions that sustainably leverage opportunities and mitigate challenges to promote the well-being of communities and ecosystems in and around the oceans, lakes and rivers across the Eastern region of Africa.

Question 24

Can I apply if I do not have a venture idea?

Carmen Merab · Accepted Answer

Absolutely! TECA’s Waves are for individuals who are passionate about launching ventures for climate resilience but are yet to identify investors, teammates, or even solid business ideas. We are here to support you. All you need to bring is your talent and commitment to building climate resilience for vulnerable communities and our planet.

Question 25

What are you looking for in founder profiles?

Carmen Merab · Accepted Answer

Entrepreneurial mindset
Results oriented
Team player
Strong work ethic
Passion for climate resilience
Aim for impact
Experience related to at least one of the fields:

- Business, commercial, marketing and operations
- Technology and data science
- Marine science, conservation and environmental science
- Product management and design

Question 26

How many TECA Founders are you looking for?

Carmen Merab · Accepted Answer

For our first wave, we are looking for 40 talented individuals with a demonstrated passion for climate action to join our venture launcher.

Question 27

Which geographic areas can founders apply from?

Carmen Merab · Accepted Answer

We are primarily looking for fellows with the following nationalities:
Kenya, Uganda, Rwanda, Tanzania, Burundi, Mauritius, Seychelles, Zambia, Mozambique, Madagascar, Comoros, Malawi, Eritrea, Djibouti, Ethiopia, Sudan, Egypt and South Africa.

However, we will also consider other nationalities as well.

In this wave, we are particularly interested in launching ventures with operations and activities in Eastern Africa.

Question 28

What will the program look like?

Carmen Merab · Accepted Answer

A TECA Blue Wave is organized in the following three phases from April 2022 to February 2023. However, upon selection to become a TECA founder, active engagement in the program will run between end of August 2022 and February 2023 depending on whether respective individuals and their teams qualify to progress to the end - TECA graduation. The phases are broken down as follows:

Summoning (Apr - Aug 2022): recruiting 40 Fellows to work on ideas as well as the broader community to support them
Genesis (Team and venture formation for 6-8 weeks between Aug - Oct 2022): onboarding the Fellows and supporting them as they develop teams around a problem and a solution. Culminates in an “Idea pitch day” which will see 7 teams progressing to the next phase.
Traction (Product building and validation for 3 months between Nov 2022 - Feb 2023): supporting the teams to prototype, test and refine their ideas turning them into viable solutions. Teams will receive USD 55,000 in form of grant funding and technical assistance during this phase to build their products and ventures. This phase will culminate in “TECA graduation day” where the 7 ventures will pitch to a pool of external investors to receive funding for launching their solutions and growing their market fit.

Question 29

What is the program duration?

Carmen Merab · Accepted Answer

Upto 6.5 months upon being selected to engage as a TECA founder.

Question 30

What is the time commitment expected?

Carmen Merab · Accepted Answer

Approximately 20 - 25 hours per week of your time during the team and venture formation stage. If you can dedicate more time, you will likely increase your chances of success. Once your venture is selected for the venture building stage, we’ll expect you to work on it full-time.

Question 31

Do I have to quit my job to be part of TECA?

Carmen Merab · Accepted Answer

In the initial team/venture formation phase, you do not need to quit your job, however, we ask that you commit at least 50% of your time to the TECA fellowship program. If your venture is selected by the investor committee as one of seven investible entities to receive USD 55,000 (split across funding and technical assistance), you will then be required to be fully committed. Otherwise, you would be hurting the chances of success for the venture and your teammates. Launching startups is hard and the founding team needs to be fully focused to have a real chance of success.

Question 32

Do I need to find a co-founder if I already have a team?

Carmen Merab · Accepted Answer

The program will support you in forming teams with other fellows.

Question 33

When will I know if I have been accepted into the program?

Carmen Merab · Accepted Answer

The program will be making decisions on a rolling basis. The final decision with all the fellows for the program will be made by the end of July. However, you will receive communication on whether you have passed the various interview rounds.

Question 34

Do I have to relocate for this program?

Carmen Merab · Accepted Answer

No, you do not. The program will run from August 22nd, 2022 to February 15th, 2023. You will be expected to attend one in-person session in September that will last approximately 1 week.

Question 35

What will I get from this program?

Carmen Merab · Accepted Answer

In 6 months, we help you transform from a passionate individual to a founding team member behind a climate startup. If you join our program, you will get the following:

A monthly stipend
Personal support such as coaching and mentoring
Exposure to peers that can become co-founders in ambitious climate startups
The ability to explore and launch new ideas around the blue economy
Learning sessions to help you grow as an entrepreneur and leader
The opportunity to pitch an investor committee and to receive $55K in funding to form your venture (50% in cash, 50% in services from our venture building team)
Plus, you will join and play a central role in an active network of experts, investors, and others committed to a climate-resilient future

Question 36

What are some examples of ideas and solutions that might be developed?

Carmen Merab · Accepted Answer

Cold chain logistics
Solutions to protect and regenerate marine ecosystems
Seafood products
Ocean waste management
Blue carbon finance
Embedding fintech in smart gear
Sustainable aquaculture
Early warning systems & data

Question 37

Do I have to pay anything?

Carmen Merab · Accepted Answer

NO. There are absolutely no fees to pay to participate. In fact, we will pay you a stipend so you can focus on this critical work.

Question 38

I have a question that is not answered here. Who can I ask?

Carmen Merab · Accepted Answer

Send an email to the TECA team. You can also join our climate community through this link to learn more or be a part of the next information session.

Question 39

What is TECA?

Carmen Merab · Accepted Answer

TECA is a new venture launcher that promotes ambitious and innovative ventures in the area of climate resilience and adaptation. TECA will fund and support high-potential individuals with a demonstrated passion for climate action, to develop ideas into ventures. TECA’s mission is to launch 100 ventures by 2026 to bolster the climate resilience of vulnerable communities and the planet, leveraging fintech and other enabling technologies. In line with our core mission, we aim to build a TECA community to connect a growing network of experts, investors, and other like-minded individuals committed to a climate-resilient future. Our first Wave of entrepreneurs is focused on the Blue Economy in East Africa.

Question 40

What is the blue economy?

Carmen Merab · Accepted Answer

The blue economy comprises those sets of activities generating livelihoods and ecosystem services from bodies of water–oceans, lakes and rivers, while conserving the blue spaces. This includes large and established sectors such as:

All forms of fishing (capture and culture)
Coastal tourism
Shipbuilding, marine transportation and port services
Offshore energy generation

Question 41

What is a fintech venture?

Carmen Merab · Accepted Answer

A fintech venture is a business that leverages financial technology to provide services or solutions.

Question 42

How do I know if I am the right fit for the program?

Carmen Merab · Accepted Answer

We are looking for individuals who are interested in starting their own fintech ventures. The ventures must be focused on providing solutions that sustainably leverage opportunities and mitigate challenges to promote the well-being of communities and ecosystems in and around the oceans, lakes and rivers across the Eastern region of Africa.

Question 43

Can I apply if I do not have a venture idea?

Carmen Merab · Accepted Answer

Absolutely! TECA’s Waves are for individuals who are passionate about launching ventures for climate resilience but are yet to identify investors, teammates, or even solid business ideas. We are here to support you. All you need to bring is your talent and commitment to building climate resilience for vulnerable communities and our planet.

Question 44

What are you looking for in founder profiles?

Carmen Merab · Accepted Answer

Entrepreneurial mindset
Results oriented
Team player
Strong work ethic
Passion for climate resilience
Aim for impact
Experience related to at least one of the fields:

- Business, commercial, marketing and operations
- Technology and data science
- Marine science, conservation and environmental science
- Product management and design

Question 45

How many TECA Founders are you looking for?

Carmen Merab · Accepted Answer

For our first wave, we are looking for 40 talented individuals with a demonstrated passion for climate action to join our venture launcher.

Question 46

Which geographic areas can founders apply from?

Carmen Merab · Accepted Answer

We are primarily looking for fellows with the following nationalities:
Kenya, Uganda, Rwanda, Tanzania, Burundi, Mauritius, Seychelles, Zambia, Mozambique, Madagascar, Comoros, Malawi, Eritrea, Djibouti, Ethiopia, Sudan, Egypt and South Africa.

However, we will also consider other nationalities as well.

In this wave, we are particularly interested in launching ventures with operations and activities in Eastern Africa.

Question 47

What will the program look like?

Carmen Merab · Accepted Answer

A TECA Blue Wave is organized in the following three phases from April 2022 to February 2023. However, upon selection to become a TECA founder, active engagement in the program will run between end of August 2022 and February 2023 depending on whether respective individuals and their teams qualify to progress to the end - TECA graduation. The phases are broken down as follows:

Summoning (Apr - Aug 2022): recruiting 40 Fellows to work on ideas as well as the broader community to support them
Genesis (Team and venture formation for 6-8 weeks between Aug - Oct 2022): onboarding the Fellows and supporting them as they develop teams around a problem and a solution. Culminates in an “Idea pitch day” which will see 7 teams progressing to the next phase.
Traction (Product building and validation for 3 months between Nov 2022 - Feb 2023): supporting the teams to prototype, test and refine their ideas turning them into viable solutions. Teams will receive USD 55,000 in form of grant funding and technical assistance during this phase to build their products and ventures. This phase will culminate in “TECA graduation day” where the 7 ventures will pitch to a pool of external investors to receive funding for launching their solutions and growing their market fit.

Question 48

What is the program duration?

Carmen Merab · Accepted Answer

Upto 6.5 months upon being selected to engage as a TECA founder.

Question 49

What is the time commitment expected?

Carmen Merab · Accepted Answer

Approximately 20 - 25 hours per week of your time during the team and venture formation stage. If you can dedicate more time, you will likely increase your chances of success. Once your venture is selected for the venture building stage, we’ll expect you to work on it full-time.

Question 50

Do I have to quit my job to be part of TECA?

Carmen Merab · Accepted Answer

In the initial team/venture formation phase, you do not need to quit your job, however, we ask that you commit at least 50% of your time to the TECA fellowship program. If your venture is selected by the investor committee as one of seven investible entities to receive USD 55,000 (split across funding and technical assistance), you will then be required to be fully committed. Otherwise, you would be hurting the chances of success for the venture and your teammates. Launching startups is hard and the founding team needs to be fully focused to have a real chance of success.

Question 51

Do I need to find a co-founder if I already have a team?

Carmen Merab · Accepted Answer

The program will support you in forming teams with other fellows.

Question 52

When will I know if I have been accepted into the program?

Carmen Merab · Accepted Answer

The program will be making decisions on a rolling basis. The final decision with all the fellows for the program will be made by the end of July. However, you will receive communication on whether you have passed the various interview rounds.

Question 53

Do I have to relocate for this program?

Carmen Merab · Accepted Answer

No, you do not. The program will run from August 22nd, 2022 to February 15th, 2023. You will be expected to attend one in-person session in September that will last approximately 1 week.

Question 54

What will I get from this program?

Carmen Merab · Accepted Answer

In 6 months, we help you transform from a passionate individual to a founding team member behind a climate startup. If you join our program, you will get the following:

A monthly stipend
Personal support such as coaching and mentoring
Exposure to peers that can become co-founders in ambitious climate startups
The ability to explore and launch new ideas around the blue economy
Learning sessions to help you grow as an entrepreneur and leader
The opportunity to pitch an investor committee and to receive $55K in funding to form your venture (50% in cash, 50% in services from our venture building team)
Plus, you will join and play a central role in an active network of experts, investors, and others committed to a climate-resilient future

Question 55

What are some examples of ideas and solutions that might be developed?

Carmen Merab · Accepted Answer

Cold chain logistics
Solutions to protect and regenerate marine ecosystems
Seafood products
Ocean waste management
Blue carbon finance
Embedding fintech in smart gear
Sustainable aquaculture
Early warning systems & data

Question 56

Do I have to pay anything?

Carmen Merab · Accepted Answer

NO. There are absolutely no fees to pay to participate. In fact, we will pay you a stipend so you can focus on this critical work.

Question 57

I have a question that is not answered here. Who can I ask?

Carmen Merab · Accepted Answer

Send an email to the TECA team. You can also join our climate community through this link to learn more or be a part of the next information session.

Inclusive digital ecosystems of the future

Related Publications

The Best of Both Worlds: Decoupling Financing from Distribution through FSP-Led PAYGo

Making Business Work for Dukas

AI: From Automation to Augmentation

Share:

Leave a Reply Cancel reply