PepsiCo, SABIC, AstroLabs, and Partners Come Together To Launch The Mega Green Accelerator With Eight Startups From The MENA Region At the end of the program later this year, one winning company will be awarded US$30,000 in funds to continue its expansion.
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PepsiCo, SABIC, AstroLabs, and partners have announced the eight MENA-based startups that have been selected to participate in their new Mega Green Accelerator program.
Each of the companies selected to be join the Mega Green Accelerator submitted an innovative solution focused on either advancing the circular economy, transitioning to clean energy, or mitigating climate change through technologies to improve water use and agricultural processes.
For the next six months, the eight startups will receive funding, mentorship with industry experts, and market access to scale their innovative solutions. At the end of the program later this year, one winning company will be awarded US$30,000 in funds to continue its expansion.
In its applications phase, the Mega Green Accelerator received a total of 363 submissions from sustainable startups in the region during the applications phase. Now, eight companies have been shortlisted to proceed in the program- these include:
- Mrüna (UAE) A consulting and distribution company dedicated to developing innovative urban solutions.
- The Surpluss (UAE) A climate technology startup that helps SMEs reduce their greenhouse gas emissions profitably through resource sharing via a digital sustainability exchange.
- Mirai Solar (Saudi Arabia) A solar technology startup that specializes in expanding solar energy use beyond conventional applications, improving the energy use efficiency of food production and smart buildings for a sustainable future.
- Ahya Technologies (Saudi Arabia) A climate software and artificial intelligence (AI) startup building a unified platform for scaling climate action across the Middle East, North Africa, and Pakistan.
- YY ReGen (Lebanon) This startup provides innovative solutions through the promotion of renewable energy, sustainable water management, and regenerative farming.
- Viridia Tech (Egypt) This company offers a platform for crop analytics at scale for industrial agricultural companies, leading to significant improvements in yield, unit economics, and sustainability metrics.
- P-VITA (Egypt) A biotechnology hub that specializes in producing natural raw materials for cosmetics and food and beverage industries using AI and internet of things (IoT) technologies to reduce carbon footprint through automated processes.
- Kumulus (Tunisia) A water tech startup that turns air into fresh drinking water through innovative atmospheric drinking water (AWG) machines, and thereby aiming to make drinking water more accessible, sustainable, and economical for hotels and businesses across the MENA and Southern European regions.
In a statement about the program, Eugene Willemsen, CEO, Africa, Middle East, and South Asia, PepsiCo, and CEO of International Beverages, said, "With solutions spanning agriculture, water, and the energy sectors, this is an opportunity for us to accelerate the development of practical climate technologies crucial to address the MENA region's challenges, and strengthen our position as a testbed for climate innovation globally."
"Startups can act as epicenters of innovation, and reshape, disrupt, and define our future," Williamsen continued. "The Mega Green Accelerator provides the incentive to bolster this through cross-sector collaboration, and to nurture the region's next generation of entrepreneurs by providing the needed mentorship, funding, and market access."
Roland Daher, CEO of AstroLabs, added, "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 setting the stage for a robust sustainability infrastructure, bridging the gap between these companies and the resources necessary for them to thrive, scale, and translate their innovative solutions into regional impact," Daher added. "We're excited to witness the growth of these companies through the collaborative efforts between AstroLabs, PepsiCo, SABIC, and the various strategic partners of the program."
Investment vehicles like Dubai Future District Fund, VentureSouq, and Shurooq Partners have come aboard the Mega Green Accelerator as strategic investment partners that will provide platforms for investment opportunities, mentorship in raising capital, and networking opportunities throughout the program's term; they have already contributed to establishing the selection criteria, and participated in the shortlist process.
French multinational Schneider Electric will also support the Mega Green Accelerator as a prize partner, while also participating in the final selection of the winner.
Founded in 1965, PepsiCo sees it products enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world.
SABIC, a global diversified chemicals company headquartered in Riyadh, Saudi Arabia, operates in around 50 countries worldwide, with its products including chemicals, commodity and high-performance plastics, agri-nutrients and metals.
AstroLabs is the leading business expansion platform in the Gulf, propelling high-growth companies across strategic industries. It is the partner of choice for over 1,500 companies that have expanded across the region.
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