Ninety One launches Accelerator in partnership with The Earthshot Prize to boost innovative African companies

Ninety One is thrilled to announce the launch of the Ninety One Accelerator in support of The Earthshot Prize (TEP).

TEP was launched by Prince William in 2020 to search for and scale game-changing innovations that will help us repair our planet. The Prize awards the five winning solutions each year until 2030 with £1 million.

The Ninety One Accelerator will support innovative young Earthshot solutions which are primarily South Africa-focused with global ambitions, so that they are investment ready and better positioned to scale their businesses.

As a global investor, mindful of the long-term risks inherent in unsustainable economic activity, Ninety One is already part of the ecosystem driving awareness of the climate-related risks and contributing towards climate-related solutions. The launch of the Ninety One Accelerator in support of The Earthshot Prize is another way in which the firm seeks to express its commitment to driving climate-related solutions, and alignment with the five earthshots identified through The Earthshot Prize.

In so doing, Ninety One also becomes a member of the Undaunted Accelerator Network, launched in Cape Town yesterday. Undaunted, a partnership between Imperial College London and the Royal Institution, aims to speed 10,000 eco-innovations to scale in this decade. The new global network, with 17 initial members, will foster collaboration between accelerators, incubators and other organisations around the world as they support and accelerate early-stage start-ups to tackle the most pressing environmental challenges facing the world.

The Ninety One Accelerator leverages the reach and expertise of TEP, with the skills and networks of Ninety One in South Africa and beyond, to create a programme that equips Earthshot solutions to take the next step in their journey. The Accelerator will provide customised support, including an appropriate blend of funding, technical assistance and strategic guidance to enable growth and mobilise funding. It will initially focus specifically on solutions operating in South Africa, and/ or solutions which target the country as a current or potential market but ultimately have global ambitions. The Accelerator may also be extended to support solutions across the African continent where appropriate.

Candidates will be screened and selected annually from TEP nominations. The Accelerator will work with partners to deliver the 9-month programme to up to 30 innovators between 2025 and 2030, aligning with the TEP timeline. The estimated total value of support, including direct funding and in-kind programmatic contribution, is in the region of R45 million / $2.5m over the 6-year period.

Hendrik du Toit, Founder and CEO of Ninety one, commented: “New climate innovations need more early and mid-stage technical and financial support to scale up. Africa needs to support entrepreneurs with sustainable, scalable solutions that can support growth and improve the outcomes for the climate and the continent’s people. With the TEP accelerator, we at Ninety One hope to make a meaningful contribution to sustainable growth.”

Anu Bajaj, Chief Innovative Finance and Investment Officer, The Earthshot Prize said: "This year, South Africa hosts Earthshot week and The Earthshot Prize Awards in Cape Town. With over 900 nominees for the Prize delivering impact in Africa, we know there’s no shortage of innovation on the continent. We are delighted to have Ninety One join us to launch an accelerator in support of solutions from the The Earthshot Prize portfolio. As a global investment manager with a South African heritage, they can provide the technical skills, funding and network support so critical to help our solutions grow and scale.”

Ninety One CSI Director Narassa Govender said: “Ninety One is driven by a shared commitment to invest for a better tomorrow and drive sustainability with substance in everything we do. The Accelerator aims to develop a pipeline of innovations for investors in climate-related solutions, thus strengthening and enabling the growth of the sustainability ecosystem across the region. We believe that this will stimulate the creation of green jobs, drive innovation, and mobilise capital towards addressing pressing regional and global environmental and social challenges.”