TECA, short for Triggering Exponential Climate Action and part of BFA Global, is a venture launcher dedicated to launching innovative projects in the climate adaptation space, with a particular focus on serving vulnerable populations. Their approach involves organizing TECA “waves” around specific areas of opportunity. For instance, the first wave, known as the ‘blue’ wave, concentrated on the Blue Economy of East Africa. They currently have other waves upcoming, such as the ‘red’ wave addressing extreme heat and the ‘green’ wave focused on agriculture and agrotech.
To provide more background, their initial blue wave centered on East Africa and began with 30 fellows. What sets TECA apart from traditional accelerators is that they select fellows before the formation of business ideas. TECA brings together these entrepreneurs, fosters team building, and ignites their creativity to shape their ideas, develop robust business models, and ultimately launch their startups. From the first cohort, seven startups emerged, each offering innovative solutions within various sectors of the blue economy.
As they work to exponentially expand and decentralize TECA waves globally, their team sought a way to recognize and involve all contributors to a wave, while also facilitating future investments and attracting top talent. Thus, they established the TECA DAO within the Hypha DAO platform in October 2022. The seven recently-formed startups have since published a proposal of their first collaboration that they will be coordinating and facilitating through the TECA DAO.
Launching Fintech Ventures for climate resilience
TECA intends to launch 100 fintech ventures by 2026 to build the climate resilience of vulnerable communities and the planet.
They are eagerly anticipating the implementation of the Hypha’s Anchor DAO feature to enable having separate circle features, which will be immensely beneficial for them. These features will allow them to categorize different waves, such as the blue waves, the red waves, the Chilean Santiago wave, and the Mexico wave, for example. The ability to further decentralize an already decentralized system, or create inner circles within the main circle, holds immense power. Both TECA and Hypha are excited to witness how this unfolds on a global scale.
In the near future, we expect the fellows to self-organize within the DAO and initiate pilot projects through small proposals. This will enable Hypha and TECA to assess how well coordination takes place through the DAO and the overall experience it provides. We must include this perspective right from the start, as we are eager to witness fellows and entrepreneurs actively collaborating with the DAO.
“By utilizing Hypha’s DAO platform, we are empowering decentralized decision-making and creating opportunities for the autonomous creation of TECA waves. This means that as each wave is run through the DAO, other teams can join, participate, and launch subsequent waves, creating a scalable global impact. We strongly believe that a DAO provides the ideal framework for achieving the necessary decentralization, organization, and scalability required for this endeavor.” — Nelly Ramírez Moncada, Senior Climate Ecosystem and Innovation Architect, BFA Global.
Before discovering Hypha, TECA was actively exploring solutions to decentralize and scale TECA waves. With the introduction of Hypha’s DAO platform, they started feeling a sense of reassurance that it could serve their intended purpose. This led to a mutual investment between TECA and Hypha, both in terms of time and skills, to determine the feasibility of utilizing our platform for their needs. According to TECA, Hypha’s DAO platform stood out from others due to three distinct factors:
First, the strong alignment of values between TECA and Hypha DAO was pivotal. Both teams shared a genuine desire to make a positive impact and collaborate authentically. This alignment laid the foundation for a successful partnership from the start.
Second, TECA was pleased with the exceptional customer service provided by Hypha’s team. In particular, Alex Prate and Dannie Quilitzsch demonstrated unwavering dedication, openness, and a collaborative spirit. Working with them and the rest of the Hypha team was an incredible experience from TECA’s perspective. TECA’s team praised Hypha’s invaluable and proactive approach in brainstorming ideas, offering suggestions, and taking action. For them, having such support in the relatively new realm of DAOs has made a significant difference.
The third aspect is that Hypha’s work closely aligns with the challenges TECA aims to address. We are actively involved in creating and uniting impact-oriented DAOs within the socio-environmental sector. Prior to discovering Hypha, finding a DAO solution that specifically catered to the impact space was arduous for TECA. Many other platforms were sector-agnostic, focusing solely on technology and tools. In contrast, Hypha’s team brings expertise and a passion for fostering the growth and success of the impact space through DAO structures.
“In addition to the technical support provided by Hypha’s tools, their team has also been incredibly helpful in providing a great customer experience throughout our project. They have been responsive and attentive to our needs, answering our questions promptly and providing guidance as needed. Hypha has also shown a deep understanding of the challenges and opportunities associated with launching a DAO and has shared their insights and best practices with us along the way. We appreciate the level of care and attention that Hypha has brought to TECA and feel confident in its ability to help us navigate the complexities of decentralized governance. Hypha’s community-driven approach has allowed us to tap into a wealth of collective knowledge and expertise, helping us to refine our ideas and make informed decisions along the way. Overall, we are grateful for Hypha’s support and look forward to continuing our partnership as we bring our DAO to fruition.” — Nelly Ramírez Moncada, Senior Climate Ecosystem and Innovation Architect, BFA Global
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