Eleven Papua New Guinean entrepreneurs have received seed funding to turn climate-focused ideas into commercial ventures under the Papua New Guinea Greenpreneurs Initiative.
Each entrepreneur received US$5,000, approximately K21,000 to K22,000, after completing a six-month program focused on climate-resilient and low-carbon business development.
The 11 recipients were selected from 175 participants, who produced 84 business plans during the program.
Their proposed enterprises cover areas including agriculture, fisheries, waste management, eco-tourism, renewable energy, circular economy initiatives, sustainable products and community-based services.
Participants came from Morobe, Eastern Highlands, Chimbu, New Ireland, Milne Bay and Enga provinces, illustrating the potential for green business models across very different Papua New Guinea environments.
The program was delivered by the Climate Change and Development Authority and Global Green Growth Institute with funding support from the Australian Government through the Climate FIRST program.
CCDA Acting Managing Director Debra Sungi said green entrepreneurship needed to form part of Papua New Guinea’s wider response to climate change by creating opportunities for people and strengthening SMEs and livelihoods.
Global Green Growth Institute private-sector adviser Rahnuma Sultana said the program had helped participants develop practical knowledge of climate-resilient and low-carbon business solutions.
The initiative reflects growing recognition that climate policy can also generate business opportunities.
Papua New Guinea’s large agriculture, forestry, fisheries and renewable-energy resources create potential for enterprises built around sustainable production, waste reduction and more efficient use of natural resources.
Small and medium enterprises are particularly important because much of Papua New Guinea’s economic activity occurs outside large corporations and major urban centres.
Early-stage finance, however, remains a major constraint for many entrepreneurs. Seed funding programs can help businesses move from concepts and business plans towards demonstrating whether their ideas are commercially viable.
Australian High Commission representatives described SMEs as important contributors to employment, inclusive growth and economic development.
The Greenpreneurs program also seeks to help successful participants become more investment-ready, creating the possibility that relatively small initial grants could eventually attract larger pools of private or climate-related finance.
