While similar climate technology innovation mechanisms exist, they typically do not cater to health.
The accelerator will provide support across two broad areas: technical assistance for development and transfer of innovations, and financing to pilot and scale high-impact innovations. Specifically, the accelerator will perform the following key activities:
- Scoping climate and health needs in health systems and communities through continuous on-ground assessments to devise problem statements
- Sourcing and shortlisting high impact climate and health technologies and innovations as per problem statements, through active and passive sourcing by multi-dimensional climate and health expert panels
- Deploying fit for purpose and context specific innovations for on-ground impact in the local context through intensive pilots, expert guidance, and handholding support
- Accelerating integration and scale up of validated climate and health innovations in government systems, local community, and industry
- Providing technical assistance for technology transfer by building sustainable capacity of innovators, governments, and industry
- Mobilizing financial support for validation of pilots, refining, scale up, and technology transfer through innovative financing mechanisms
- Strengthening cross-geographical and cross-sectoral learning and collaboration through regional knowledge sharing, learning networks and partnerships
- Building a private sector marketplace platform that houses all climate and health innovations and matches innovators with buyers.
PATH aims to support two to three high impact innovations annually with seed grants through innovative financing mechanisms. This will include but is not limited to recoverable seed grants, innovative financing instruments, and leveraged financing from country funds and budgets. Currently, the accelerator is supported by a $100,000 seed fund contributed by PATH. Financing models can include impact bonds, public-private partnerships, and innovative financing instruments. Upon launch of the accelerator, PATH will open the financing platform for replenishment by donors, multilaterals, and philanthropic organizations.
The accelerator will onboard innovative technologies that meet the following four criteria:
- Addresses both Sustainable Development Goals 3 (Health) and 13 (Climate action) at a minimum
- Readily deployable
- Affordable, accessible and relevant (suitable for low and middle income countries)
- Financially sustainable and either already or projected to be commercially viable.
For every deployment through the accelerator, the impact will be rigorously assessed through a comprehensive framework that integrates data that is quantitative (e.g., emission reduction targets, health indicator improvement metrics, cost savings, economic assessments) and qualitative (e.g., community engagement initiatives, feedback from stakeholders.