EDP launches Hope Fund to support social entrepreneurs with projects for just transition
The programme is intended to support and finance social impact projects in Portugal, Spain, and Latin America. Applications are now open.
ARE Member EDP has launched the Hope Fund, a new funding and incubation programme open to social entrepreneurs with projects that contribute to a just energy transition. Designed for a three-year period, the Hope Fund is seeking organisations with innovative solutions that address social issues within the context of the energy transition to implement in Portugal, Spain, and Latin American countries.
The initiative offers financial support as well as an incubation and acceleration program to help social entrepreneurs develop a scaling strategy for their impact solutions. Mentors with specialised knowledge will work with the entrepreneurs to help advance their projects. Selected applicants will get the chance to receive up to 500,000 EUR of funding.
EDP has two important partners for this initiative: Ashoka, a global organisation that specialises in identifying and supporting social entrepreneurs, and Bridge for Billions, an online platform that provides tools, resources, and mentoring for entrepreneurs in the early stages of growth. In line with EDP’s global commitment to promoting a fair and inclusive energy transition, the Hope Fund aims to promote, support, and help scale innovative projects that address critical issues in different communities.
“We are thrilled to launch this new initiative, which is fully aligned with EDP’s mission to support social entrepreneurs who are contributing to changing the world. We believe that by supporting innovative and sustainable projects, we can have a positive and relevant impact on our communities and on some of the most pressing issues facing society today, such as energy inclusion or just transition,” commented Vera Pinto Pereira, executive board member of EDP.
Organisations interested in applying for the fund can do so via the Bridge for Billions platform through this link until 8 Sep 2024. Candidates must have a solution in one or more of the following actions:
- Give access to clean, reliable, safe, and affordable energy for underserved communities and/or disadvantaged people.
- Provide energy efficiency for underserved communities and/or disadvantaged people.
- Promote up-skilling and re-skilling for the energy transition industries with affordable tuition models.
- Foster the preservation and restoration of forests and biodiversity with positive social impact, especially in underserved areas.
- The projects will be evaluated and chosen based on their innovation, impact, scalability, and sustainability.
Through this support, EDP and its partners are committed to empowering entrepreneurs, promoting long-term solutions to social and environmental challenges, and fostering partnerships and collaboration across different sectors to maximise impact. The Hope Fund is part of EDP Y.E.S. – You Empower Society, the company’s global social impact strategy, which involves a 300 million euro investment by 2030 to support over 500 social responsibility projects in various locations. This initiative aligns with EDP’s goal to achieve 100% green energy by 2030 and net-zero emissions by 2040.
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