The Blue Finance Accelerator the Joint initiative of UNDP and ADB launches call for applications to entrepreneurs tackling blue sector challenges in Indonesia

Jakarta, December 15th, 2022 – The Blue Finance Accelerator (BFA), presented by The United Nations Development Programme (UNDP) and Asian Development Bank (ADB), in collaboration with the Coordinating Ministry of Maritime and Investment Affairs and Instellar Indonesia, and supported by United Nations Industrial Development Organization (UNIDO), has launched its call for applications for early-staged SMEs/Startups developing solutions for blue sectors on Wednesday, December 14th, 2022.

Blue Finance Accelerator is a 6-month accelerator programme aims to provide capacity-building and support mechanisms on business and impact for startups and SMEs operating in blue sectors – including sustainable fisheries, aquaculture, marine debris waste management, plastic pollution reduction, climate change mitigation or adaptation. The programme will target a minimum of 12 SMEs/Startups, consisting of six startups and six SMEs to undergo acceleration.

Selected startups and SMEs will benefit from tailored support provided by a dedicated team and industry experts. They will get tailored curriculum and modules, ranging from business, innovation, impact measurement and management, gender lens, and blue-themed topics. Through individual mentoring and consulting, advisory teams and mentors will also support the selected startups and SMEs throughout the process to ensure the business growth.

Focusing on the objective of this Accelerator Program, Nila Murti, Officer-In-Charger, Innovative Financing Lab mentioned “Indonesian Livelihoods heavily depend on the oceans and marine ecosystems for both community and national level. The Ministry of Investment/BKPM notes that Indonesia’s fisheries sector contributes to USD 29.6 billion to the GDP with the marine commodity industry directly involving 2.8 million households. With this tremendous potential, UNDP and ADB along with the Coordinating Ministry of Maritime and Investment Affairs is excited to have the Blue Finance Accelerator programme!’’

We hope this programme can encourage collaboration between startups and SMEs in the blue sectors with government counterparts in developing bankable blue projects with the intention of sustainability and impact – all to drive transformative change towards communities and our seas for generations to come” , She added.

The BFA programme commits to nurture the selected startups and SMEs, providing a chance to wider exposure and network where they can connect with other ecosystem players in the blue sector, such as industry experts, investors, and governments. They will also get access to UNDP and Instellar community networks. Moreover, this programme also offers the opportunity to get access to blended finance facilities.

“We are pleased to be the implementing partner from the Blue Finance Accelerator. Blue sector is clearly the new focus in Indonesia and we are already seeing everyone heading into this blue economy. We believe that this accelerator programme will benefit to boost and reach the SDGs agenda,” said CEO Instellar Romy Cahyadi.

The Blue Finance Accelerator also aims to catalyze public and private capital within the social entrepreneurship sector. As a collaborative and innovative platform, BFA enables local startups, SMEs, and Government Units to scale up Blue Economy projects.

Registration for Blue Finance Accelerator is open until January, 14th, 2023. Register your startups and SMEs via instellar.id/bfa.

For further information about the programme, please follow @undpindonesia @instellarid @innovativefinancinglab Instagram and @FinancingLab_ID Twitter, or drop your questions to events@instellar.id.