Empowering Women Climate Entrepreneurs to Accelerate Clean Energy Innovation Space in Bali

New Energy Nexus, with the support of the Climate Works Foundation, held Bali Women Climate Entrepreneur – CONNEX Energy Meetups. The events are part of our effort to bring gender equality to Bali’s climate tech startup ecosystem. 

Almost a hundred participants join the platform, where we provide information, current development, and real-life examples on the importance, challenge, and opportunities of women entrepreneurship in the clean energy and climate innovation space, especially in Bali. 

Here are six major insights and inspiring stories from key players in the investment and clean energy sector

1. Baseless stigma and capital gain

“During fundraising, men and women founders are given different questions by investors. Women founders tend to be doubted, even though for USD 1 of funding, women can earn USD 0,8 in revenue while men can only earn USD 0.3. It can be concluded that for women entrepreneurs, the core problems are lack of access to financial and social capital.”  

– Erieka Kosasih, Investment Analyst at AC Ventures


2. The importance of active participation in accelerating the energy transition.

“There are several challenges that we need to tackle in order to increase the capacity of clean energy generators. These include addressing human resource competencies, inadequate infrastructure and ecosystems, supporting policies that encourage clean energy development, and clean energy projects, high-investment projects. Therefore we need clean energy and climate innovation startups to step in and bring innovation to the landscape.” 

– Ida Bagus Setiawan, Head of Energy and Mineral Resources, Department of Manpower, Energy and Mineral Resources Bali


3. Equal opportunity for all

“To tackle climate change, we need to address gender inequality. It is undoubtedly that women, too, have been greatly impacted by climate change. It is important to support women to learn, have a fulfilling career/business, be seen and heard in any discussion topics, and more importantly, access to knowledge we need to give our best contributions.”

– Widyawaty, the CFO of Sangkara


4. Empowered women empower women.

“When we minimize gender inequality, statistically, we will be able to avoid 2 million tons of CO2 emissions, and women with access to education can help prevent another 120 million tons. Representation, be that ethnically, gender, or racial, is essential. Children look up to genuine people, which later forge their dreams of becoming those specific roles. If we want more women entrepreneurs in space, then there must be a representation of role models that girls can look up to.”

– Rika Novayanti, Strategic Communications Director at PURPOSE


5. The importance of gender lens and early-stage investment in the climate space

“Investors who used to be mainstream and profit-focus have now shifted towards impact investing using gender lens as one of their assessments – calling the current trend Gender Smart Investing (gender lens + financial return). Understanding gender is key in the climate space;  real value, key growth, and innovation driver are three factors that could help women’s climate investment landscape pass the valley of death in startup growth.” 

– Cynthia, Investment Associate at ANGIN


6. Three tips for fellow women leaders 

“I emptied my bank account and left the corporate ladder to start Azura Indonesia. Azura Indonesia is a startup that provides accessible green technology to coastal communities. To fellow aspiring women leaders out there, I would like to encourage three things; to have high curiosity about new things, to always ask around, and to keep moving even if things are difficult. “

– Nadea, CEO and founder of Azura Indonesia

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