TechEmerge brings technologies to new markets, driving sustainable innovation to emerging economies where it is needed most. After successful programs in India and Brazil, TechEmerge is expanding to Latin America’s vital cooling sector.
Through this program, TechEmerge is matching innovators from across the world with companies and municipalities in Mexico and Colombia to pilot climate-smart, energy-efficient cooling technologies, products, and services and build commercial partnerships.
After a global open call in July 2020, innovators were selected through a competitive process and then invited to participate in virtual meetings and events with potential pilot partners in Mexico and Colombia to discuss how to pilot their technology, product, or service and commercialize them in these growing markets. Check back soon for results from our matchmaking summit.
IFC and a panel of industry experts will provide support during market-entry and tech transfer to offset financial and operational risks for innovators and adoption risks for local governments, corporates, and other cooling providers/users. TechEmerge offers a total pool of USD 1.5 million in grant funding for pilot projects in a wide range of sectors
After East Asia and Pacific, Latin America offers the world’s second largest climate smart investment potential of up to USD 5.7 trillion by 2030.
Latin America has a warm climate and the highest urbanization rate in the world, and the region’s many large cities provide an ideal environment for scaling sustainable cooling solutions.
The region is also known as a hub of innovation, and both the private and public sectors are eager to adopt new cost-effective, energy-efficient, climate-smart cooling solutions.
In 2018 the global market value for the cooling sector was estimated at USD 135 billion. By 2030, this could reach almost USD 170 billion, while global unit sales are expected to grow from 336 million to 460 million over the same period.
Sectors with high potential:
Check back soon for detailed results from our on-the-ground surveys in Mexico and Colombia, sector-specific data, and more information on Latin America’s growing cooling market.
Cooling is essential for economic development, productivity, human health and food security.
Climate change, income growth, and urbanization are all increasing demand for cooling—especially in emerging markets which are home to the fastest growing and hottest cities on earth.
However, cooling consumes 15% of global energy, and if business as usual continues that amount will triple by 2050. Cooling is also a major contributor to climate change, producing 10% of greenhouse gas emissions worldwide.
The good news is that cooling innovation offers one of the most cost-effective ways to fight climate change – and this is where TechEmerge comes in.
This IFC program is implemented in partnership with the government of the United Kingdom.