Bridge for Billions partners with EDP to launch the Hope Fund, a funding and incubation program dedicated to social entrepreneurs with projects that contribute to a just energy transition.
EDP is a global energy group leader in innovation, value creation and sustainability. It is part of the Dow Jones Sustainability Indexes (World and STOXX) and is also a world leader in renewable energy.
The Hope Fund will be part of EDP Y.E.S. – You Empower Society, the company’s global social impact strategy, which involves an investment of 300 million euros by 2030 to support over 500 social responsibility projects in various locations.
Ashoka, a global organization specializing in identifying and supporting social entrepreneurs, also joins the collaboration.
The Bridge for Billions team will provide tools, resources, and mentorship to the entrepreneurs selected for the program through its online platform.
The Program
In line with EDP’s global commitment, the Hope Fund aims to promote, support, and help scale innovative projects that address critical issues in different communities.
The initiative will be developed in Spain, Portugal, and Latin America over a period of 3 years, offering financial support as well as an incubation and acceleration program to help social entrepreneurs in these regions develop a strategy for their impact solutions.
Throughout the program, social entrepreneurs will benefit from a 1-1 and group mentorship, followed by a step-by-step approach to create a clear, feasible, and investment-worthy scaling strategy. This will enable them to increase their social impact and reach more people in need for a fair energy transition.
Specialized mentors with knowledge in the social field will work with the entrepreneurs to advise and help them advance their projects. Selected candidates can receive funding of up to 500,000 euros.
Open Applications
Entrepreneurs/projects interested in applying for the fund can do so through this link before September 8, 2024.
Candidates must propose a solution in one or more of the following actions:
- Provide access to clean, reliable, safe, and affordable energy to disadvantaged communities and/or individuals.
- Provide energy efficiency for disadvantaged communities and/or individuals.
- Promote training and reskilling for the energy transition industries with affordable tuition models.
- Encourage the preservation and restoration of forests and biodiversity with a positive social impact, especially in underserved areas.
15 projects will be evaluated and selected based on their innovation, impact, scalability, and sustainability.
More information for interested entrepreneurs here.
Why This Matters
In a world facing climate change and energy inequality, the Hope Fund offers a pathway to resilience and hope. This program is a testament to the importance of supporting communities striving for a just energy transition.
By backing social entrepreneurs dedicated to providing clean, affordable energy, we contribute to the UN’s Sustainable Development Goals (SDGs), including Affordable and Clean Energy (Goal 7) and Climate Action (Goal 13).
The Hope Fund is proof that collective efforts can drive innovation, and that together we can create a brighter, more equitable future for all.
