Ethiopia and other Horn of Africa countries are highly vulnerable to the impacts of climate change. Without action, a changing climate could have very serious implications for the economies of Horn of Africa countries and the well being of their people. So international organizations, including Horn of Africa Regional Environmental Center and Network (HoA-REC&N), are taking part in various initiatives to help curb climate change and mitigate and adapt to its current and future impacts. Accelerating innovation and technology transfer have been identified as essential tools in tackling the long-term cost of climate change.
Therefore a rigorous market assessment was conducted by infoDEV in 2011 to examine the feasibility of a CIC as a facility to maximize innovation in Ethiopia. The results suggested that the CIC, a Center that finances and supports Ethiopian innovators, entrepreneurs and Small and Medium Sized Enterprises (SME’s), will assist in creating climate solutions that meet local needs. By supporting the private sector to overcome barriers to new technology development (e.g., inadequate finance and lagging technical and business capabilities) and helping grow innovative climate technology ventures, it will promote Ethiopia’s climate resilience and green growth.