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Mega Green Accelerator: Eight Companies selected in MENA

by Madaline Dunn 1 year ago

written by Madaline Dunn

PepsiCo, SABIC, AstroLabs and partners have announced details of the eight startup companies in the Middle East and North Africa (MENA) selected for the Mega Green Accelerator.

The Accelerator is an initiative aimed at nurturing the next generation of innovators in MENA, developing solutions to regional and global sustainability challenges. This year, it received a total of 363 submissions from startups during the application phase.

The selected participants have all 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.

Across the next six months, the eight selected startups will receive funding, mentorship with industry experts, and market access to scale their solutions.

At the end of the program, one winning startup will be awarded $30,000 in funding to continue its expansion.

The eight shortlisted startups are:

Mrüna, UAE: A consulting and distribution company dedicated to developing innovative urban solutions.
The Surpluss, UAE: A climate technology startup that assists SMEs in reducing their greenhouse gas emissions profitably through resource sharing via a digital sustainability exchange.
Mirai Solar, Saudi Arabia: A solar technology startup specialising in expanding solar energy use beyond conventional applications, improving the energy efficiency of food production and smart buildings for a sustainable future.
AHYA TECHNOLOGIES, Saudi Arabia: A climate software and AI startup building a unified platform for scaling climate action across the MENA and Pakistan.
YY ReGen, Lebanon: A startup that provides innovative solutions by promoting renewable energy, sustainable water management, and regenerative farming.
Viridia Tech, Egypt: A startup that offers a platform for crop analytics at scale for industrial agricultural companies, to improve yield, unit economics, and sustainability metrics.
P-VITA, Egypt: A biotechnology hub that specialises in producing natural raw materials for cosmetics and food and beverage industries using AI and IoT technologies to reduce carbon footprint through automated processes.
Kumulus, Tunisia: A water tech startup that turns air into fresh drinking water through innovative AWG machines. The startup aims to make drinking water more accessible, sustainable, and economical for hotels and businesses across MENA and Southern European regions.

“The Mega Green Accelerator provides the incentive to bolster this through cross-sector collaboration and nurture the region’s next generation of entrepreneurs by providing the needed mentorship, funding, and market access,” said Eugene Willemsen, CEO, Africa, Middle East, and South Asia, PepsiCo and CEO of International Beverages.

Roland Daher, Chief Executive Officer of AstroLabs, added: “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. 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.”

It was shared that throughout the Accelerator, strategic investment partners Dubai Future District Fund, Venture Souq and Shurooq Partners will provide platforms for investment opportunities, mentorship in raising capital, and networking opportunities.

These partners also contributed to establishing the selection criteria and participated in the shortlist process.

Schneider Electric will support the Mega Green Accelerator as a prize partner and participate in the final selection of the winner, it was shared.

Applications were generated through the networks of ecosystem partners: London Business School Entrepreneurship Club, Berytech, American University of Cairo Venture Lab, SOSV, Clyde & Co, Intersect Hub, SEE Institute, the Sharjah Research Technology and Innovation Park and the Mohammed VI Foundation for Environmental Protection as well as the program website.

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Standard Chartered and C3 – Companies Creating Change launch latest edition of the Women in Tech Accelerator

by Madaline Dunn 1 year ago

written by Madaline Dunn

Standard Chartered and C3 – Companies Creating Change have announced the launch of the latest cohort of the Women in Tech accelerator. Operating as part of a global Women in Tech initiative spanning nine countries, the programme aims to foster sustainable growth and empower women entrepreneurs within the UAE’s technology sector.

For the sixth edition of the accelerator, Standard Chartered has partnered with C3, a regional impact solutions provider that is part of the Global Ventures platform, an international venture capital firm that invests in founders and ideas scaling across emerging markets. C3 will provide tailored support to women founders, it was shared.

Rola Abu Manneh, Chief Executive Officer of Standard Chartered in the UAE, Middle East, and Pakistan, commented: “We are delighted to launch the sixth edition of this signature accelerator program in the UAE. This programme is a testament to our shared commitment with the UAE to champion women empowerment and support technological innovation.”

Adding: “Through this dynamic initiative, which offers targeted support, mentorship and access to seed capital, we aim to empower women, enabling them to overcome barriers, seize opportunities and drive transformative change. By nurturing and equipping women with the necessary tools and resources, we are not only fostering diversity and inclusion but also fostering an environment full of innovation and progress.”

Medea Nocentini, C3 Founder and Senior Partner at Global Ventures said: “We are thrilled to partner with Standard Chartered for the upcoming Women in Technology programme. Leveraging C3’s extensive experience in the impact entrepreneurship sector, we will empower women founders and facilitate their business journey to the next level of success. Through our expansive network of trainers, experts and investors, we aim to provide unparalleled access to knowledge, networks and capital for women-led startups, ensuring their sustainable growth and lasting impact in the technology sector.”

The programme will see ten startups undergo a detailed selection process involving various entrepreneurship and investment stakeholders.

The founders will undergo a tailored journey covering various topics, including business acceleration, investor readiness, impact assessment and acceleration, and diversity and inclusion.

The accelerator will prepare the participants for the Demo Day set to take place in October 2024, which will see female-led founding teams pitch their businesses to a network of investors and industry experts.

A panel of judges will select three businesses to receive 550,000 AED (USD 150,000) in equity-free seed capital.

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Orange Jordan hosts two-day boot camp for female entrepreneurs and startup founders

by Madaline Dunn 1 year ago

written by Madaline Dunn

Orange Jordan recently hosted a two-day boot camp targeted at 20 female entrepreneurs and startup founders.

The boot camp was aimed at boosting their readiness to attract investments and seek funds, a strategic phase within the overall growth of their startups, especially in the early stages, said Orange Jordan. It spotlighted a number of key areas, including the best practices to attract investments and the legal aspects of business.

The event was organised in partnership with the “Promoting job opportunities for micro, small and medium-sized enterprises (MSMEs)” project, implemented by German Development Cooperation (GIZ) on behalf of the Federal Ministry for Economic Cooperation and Development and in collaboration with Beyond Capital.

A series of trainings and workshops will also be organised to build on the knowledge that the participants acquired in this boot camp, it was shared.

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Tamkeen and Falak Consulting introduce the ScaleUp!

by Madaline Dunn 1 year ago

written by Madaline Dunn

Tamkeen is partnering with Falak Consulting to launch ScaleUp!, a new program aimed at empowering emerging Bahraini enterprises with strategic business development skills.

Launched in partnership with Strategy Sims, the Program will last for three days. Strategy Sims aims to enhance the capabilities of startups in Bahrain, help them scale, attract investors, and develop strategies.

During the three days, participants will engage in a simulation experience which mirrors the journey of developing a startup. Further, it will guide them through every stage of establishing a new business, from conception to developing exit strategies.

The Program will see participants explore how to:

Craft business strategies,
Navigate competition,
Secure investment,
Manage liquidity crises, and
Explore exit strategies.

Also covered in the Program is financing structures, business models, investor presentations, equity calculations, and long-term capital planning.

“The ScaleUp! program offers a cutting-edge training model within an interactive environment, fostering skill enhancement and innovation in a dynamic setting,” commented Falak Consulting Founder and CEO Mr Suhail Ghazi Algosaibi on the occasion.

Adding: “We are delighted to partner with Tamkeen in delivering this program, which will cultivate a pool of talented individuals capable of launching successful ventures and driving entrepreneurship in the Kingdom.”

Meanwhile, Her Excellency Maha Abdulhameed Mofeez, Tamkeen Chief Executive said: “At Tamkeen, we are committed to nurturing the Kingdom’s entrepreneurial ecosystem and supporting emerging projects.

“Whether through financial backing or innovative training solutions, our aim is to equip entrepreneurs with the skills they need to succeed, thereby fostering private sector growth and driving economic development.

“This collaboration with Falak Consulting provides a valuable opportunity for startups and entrepreneurs to gain knowledge on the various stages of the business cycle, and exchange ideas and experiences with other entrepreneurs, which enhances their ability to succeed and achieve their goals.”

In order to qualify, projects must present a viable idea or service for the local or regional market and be based in Bahrain with an active commercial registration.

Angel investors, accelerator programs, venture capitalists, and ecosystem developers are also invited to register, it was noted.

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Clara and VMS sign MoU to support MENA startups

by Madaline Dunn 1 year ago

written by Madaline Dunn

Venture studio VMS and Clara, a legaltech startup have signed a Memorandum of Understanding (MoU) aimed at supporting startups in the MENA region.

The two parties explained that the strategic partnership leverages Clara’s expertise in demystifying legal complexities for startups with VMS’s comprehensive resources, knowledge, and network.

Further, it is aimed at reducing risks for startups to ensure a more secure and successful growth trajectory.

Through the partnership, Clara will offer accessible legal guidance to help startups set up, scale, and exit their businesses.

VMS, meanwhile, will provide entrepreneurs with resources, expert insights, and networking opportunities.

Abdallah Alnashwan, Head of KSA for Clara, commented: “We are thrilled to partner with VMS, a company that shares our commitment to innovation and entrepreneurial success.”

Adding: “This partnership will help further support our channel partnership approach in the Kingdom and beyond and enable us to reach more startups and provide them with the comprehensive support they need to navigate the legal landscape and succeed in this competitive market.”

Motaz Abonoq, CEO of Value Makers Studio, said: “Collaborating with Clara is a natural fit for us. Their expertise in simplifying legal processes complements our mission to nurture and support innovative ventures. Together, we look forward to making a lasting impact on the global startup community.”

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Organon and Flat6Labs launch second edition of Women’s Health Accelerator Program

by Madaline Dunn 1 year ago

written by Madaline Dunn

Global healthcare company Organon, in partnership with seed and early-stage venture capital firm Flat6Labs, has announced the launch of the second edition of the Women’s Health Accelerator Program.

The accelerator initiative was launched to address specific health challenges faced by women in the region, with the aim of finding sustainable and long-term solutions.

The initiative also aims to empower digital health startups with solutions to enhance women’s health across the Middle East, North Africa, and Turkey (MENAT) region.

The inaugural Accelerator Program saw three female-founded digital health start-ups in MENA selected as winners, including UAE-founded ‘Maternally,’ a platform supporting women’s mental health needs.

The second edition of the program focuses on innovation across three areas:

Family planning,
Fertility and
Women’s wellness.

Further, it spotlights digital solutions that can help improve accessibility, empower individuals, and enhance overall quality of well-being.

Commenting on the launch, Ramy Koussa – Associate Vice President for Middle East, North Africa & Turkey (MENAT) at Organon, said: “Launching the second edition of the Women’s Health Accelerator Program marks a significant milestone in our ongoing commitment to advancing women’s health in the MENAT region. Investing in improving women’s health not only improves women’s quality of life but also enables them to thrive in the workforce. Therefore, we want to support entrepreneurs to drive forward the next wave of innovations and solutions.”

Yehia Houry, Chief Programs Officer at Flat6Labs, added: “As we embark on the second edition of the Women’s Health Accelerator Program, we are thrilled to amplify our support for entrepreneurs shaping the future of women’s healthcare. This initiative is not just about innovation; it’s about empowering visionary minds to create lasting impact. Our ongoing partnership with Organon and the evolving focus of this edition reaffirm our commitment to fostering a dynamic ecosystem for women-led startups. Together, we aim to revolutionize the healthcare landscape, ensuring it reflects the diverse and nuanced needs of women across the MENAT region.”

The program will also include community events, such as specialised training sessions and seminars.

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Dubai Chamber of Digital Economy’s App Olympics competition receives over 1,100 entries

by Madaline Dunn 1 year ago

written by Madaline Dunn

The Dubai Chamber of Digital Economy, one of three chambers operating under the umbrella of Dubai Chambers, has shared that its App Olympics programme received more than 1,100 applications to participate.

The programme was launched last year as part of the ‘Create Apps in Dubai’Dubai’ initiative announced by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai.

Further, the App Olympics is part of the chamber’s efforts to support the local digital ecosystem, and accelerate the emirate’s transformation into one of the leading digital economies globally in line with the objectives of the Dubai Economic Agenda (D33).

Encouraging digital talent to submit their ideas for mobile applications, the program sees participants supported by experts in the field and given the opportunity to win prizes to accelerate their businesses’ growth during the closing ceremony,

The ceremony will be hosted at the Museum of the Future in February.

It was shared that the App Olympics has gathered international participants from 64 countries, accounting for 31 per cent of applications.

Education-focused apps accounted for the largest share of ideas submitted, followed by healthcare, sustainability, and logistics.

Other entries received spanned diverse sectors, including financial services, tourism, travel, and food and beverage services.

Following a thorough evaluation of the ideas submitted, 247 entrants were selected to participate in the App Olympics and compete during the qualifying stages, which took place over six months.

Competitors participated in 90 training courses on topics related to mobile application development, as well as strategies to transform their initial ideas into working business models.

The programme’s first phase concluded in January when qualifying ideas advanced to the second stage of the competition, which includes training and guidance on topics including building prototypes and pitching app ideas.

A total of 24 participants will progress to the semi-final stage in February, after which 12 ideas will be shortlisted to compete in the final.

During the awards ceremony, the selected participants will compete in the award’s four categories:

Best App of the Year – Advanced Level,
Best Youth-Made App,
Most Innovative App, and
Social Impact.

The ideas will be evaluated by a panel of judges featuring industry experts representing areas including banking, venture capital, government, and the private sector.

The four winners will each be awarded a prize worth US$ 150,000 consisting of a comprehensive package of services delivered in cooperation with an international app development software company.

Each winner will also receive integrated support from the Dubai Chamber of Digital Economy to launch their ideas as promising startups, including assistance with licensing and banking processes and identifying potential partners and customers.

Saeed Al Gergawi, Vice President of the Dubai Chamber of Digital Economy, commented: “The high levels of local and international participation reflect the importance of this initiative as an opportunity for innovators in the field of app development to transform their ideas into digital startups using the emirate as a launchpad. The success of the App Olympics further strengthens Dubai’s position as a leading platform for creative minds and a magnet for pioneers from across the globe. Dubai Chamber of Digital Economy remains committed to supporting entrepreneurs and businesses in bringing their ideas to life and accelerating the growth of Dubai’s Digital Economy.”

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