SEOUL – The United Nations Industrial Development Organization (UNIDO) further strengthened its commitment to supporting cleantech innovations by actively participating in the Korea Fintech Week 2023, South Korea's leading fintech event organized by the Financial Services Commission of Korea and Fintech Center Korea.

Drawing from the recently established collaboration with South Korea's innovation and entrepreneurship ecosystem, UNIDO spotlighted three GCIP alumni companies during the "Joint FinTech Session with Major International Organizations" side event on 30 August. The session featured representatives of several international organizations, including the World Bank, the European Bank for Reconstruction and Development, and the International Finance Corporation, and delved into global fintech trends and future development of the sector, dealing with the topics such as fintech and the future of finance, and linking sustainable development and fintech.

The cleantech enterprises, which participated in the Global Environment Facility (GEF)-funded Global Cleantech Innovation Programme (GCIP) accelerator, presented their solutions and explored partnership and investment avenues with Korean fintech industry leaders.

Bandile Dlabantu, CEO of South Africa’s Khepri Biosciences, shared insights into their insect-based bioconversion venture. Apart from touching upon fintech's crucial data analysis tools, Dlabantu emphasized the transformative potential blockchain technology holds for the cleantech business expansion.

Zethu Kunene, CEO of GreenMovement Energy, also from South Africa, captivated audiences with the firewood innovation, WOODIES. This eco-friendly wood alternative derived from organic biomass waste can serve as low-emission and high-thermal alternative to coal, while meeting the energy needs of communities. Kunene made a compelling case for why Korean peer-to-peer fintech enterprises should consider collaboration with renewable energy ventures in Africa.

Aninda Sircar, representing India’s Green Cooling and Energy Regeneration, talked about their sustainable cooling innovation tailored for automobiles. Highlighting the potential and impact of their fossil-fuel-free solution, Sircar invited prospective investors to join their journey towards commercialization.

From the Korean side, the following entrepreneurs took part in the discussion and gave their feedback about the collaboration opportunities: Hae Won Kim, CEO of THANKS CARBON; Kyungdong Kim, CEO of Allink; and Jeongho Won from Hooxi Partners.

Bringing the perspective of UNIDO to the discussion table, Sungho Kang, UNIDO's senior climate finance expert, provided an in-depth analysis of how fintech can be instrumental in propelling cleantech solutions. UNIDO’s GCIP cleantech expert, Sunyoung Suh, moderated the session and steered insightful discussions surrounding the pivotal role of fintech in sustainable development and climate action.