Competition will help companies increase exposure to investors
Ong Dai Lin, Today Online 17 Dec 08;
WHILE most enterprises are finding it difficult to secure financing these days, one investment banking boutique is seeking business plans from companies that need help turning green ideas into reality.
The Clean Energy business plan competition aims to help new companies in Asean that need at least US$1 million ($1.47 million) in seed capital.
“We want to help companies that are looking to expand,” said Mr Frederic Crampe, managing director of ReEx Capital Asia (ReEx).
“There are many opportunities in Asia, but you don’t have support for green businesses as compared to some states in the United States or countries in Europe. We want to give opportunities to people.”
Eleven business plans will be selected to receive free coaching from industry experts in clean energy development to refine their proposals. The companies will then present their proposals to potential investors at the Asia Forum for Clean Energy Financing next March, where the top three winners will be selected.
But winning the competition does not mean that the companies will definitely get funding for their proposals.
“The main aim of the competition is to provide an opportunity for companies to pitch their ideas and increase their exposure to investors. We hope the investors will be interested to follow up on the ideas and invest in them,” said Mr Crampe.
“The companies will also get the benefit of professional coaching to structure their business plans better. A lot of entrepreneurs and businesses will value the exposure.”
The Clean Energy business plan competition is the first of its kind in Asia, said Mr Crampe. It is managed by ReEx, with support from several regional groups active in the clean energy finance sector.
ReEx was set up in Singapore in 2006 to provide financing for green businesses in Asia. Some of the projects that it has financed include a bioplastic plastic company in Singapore and a bio-diesel firm in Laos.
For details, log on to www.cleanenergy-financing.com. Applications close on Dec 22.
