PepsiCo, SABIC, AstroLabs and partners have chosen eight firms from the Middle East and North Africa region for their Mega Green Accelerator, including two Saudi startups. Each of the chosen participants offered a creative solution aimed at promoting the circular economy, making the switch to renewable energy, or reducing global warming by utilizing technology to enhance agricultural practices and water use. Scheduled to align with the GPCA Plastics Conference in 2024, which has as its topic “Innovating for Sustainable Growth,” the chosen entrepreneurs also made a presentation to business executives who are driving the growth of a circular economy in the area.
The next generation of innovators will be supported by the Mega Green Accelerator as they create answers to regional and global sustainability concerns. The eight forward-thinking changemakers will get market access, money and coaching from industry professionals for the next six months to help them expand their creative ideas. One winning company will get $30,000 in cash to continue expanding after the program ends.
“Over 300 fast-growing sustainability companies from all over the MENA region have applied to the program, showcasing a healthy influx of sustainable solutions and rapid growth in the sector. The selection of these eight companies underscores their readiness for scale, marking a pivotal time in the sector’s development. The Mega Green Accelerator is laying the groundwork for a strong sustainability infrastructure and bridging the gap that exists between these businesses and the resources they need to grow, develop, and apply their creative ideas to a local scale,” said Roland Daher, CEO of AstroLabs.
Throughout the Mega Green Accelerator’s duration, key investment partners such as Venture Souq, Shurooq Partners and Dubai Future District Fund will offer platforms for investment opportunities, networking opportunities and mentorship in capital raising.
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