The Mega Green Accelerator is now open for applications from startups in Lebanon and the wider MENAregion. The initiative will nurture the next generation of innovators as they develop solutions to address both regional and global sustainability challenges focused on circular economy solutions, clean energy transition, climate mitigation technologies, and food security, includingwater and agriculture. PepsiCo and SABIC have partnered with AstroLabs, as well as with other strategic partners to create the program, originally announced at COP28 in the UAE.
Entrepreneurs in the program will receive six-months of mentorship from industry experts, as well as access to networks and business opportunities, provided by the program partners and prominent business leaders in the region. At the end of the program, one winning company will be awarded seed funding to continue its expansion.
Established and revenue-generating start-ups that are developing business models related to processes, products, and/or technologies that advance sustainability are invited to apply. Applications for the six-month mentorship program are open until March 15th athttps://astrolabs.com/themegagreenaccelerator/.
“The Mega Green Accelerator is a testament to the power of collaboration and innovation. We’re witnessing a growing number of young entrepreneurs in the region venturing into disruptive ideas. Research indicates their need for more holistic infrastructure, resources, funding, and mentorship to scale these initiatives. We already know that innovative climate technologies are necessary to slow down and adapt to the impact of climate change and extreme weather. The potential for cultivating a network of MENA-based innovators addressing the most pressing sustainability challenges in the region is phenomenal and this has all the makings of a story that can scale further wins on multiple fronts and for multiple stakeholders – but most importantly, for our shared planet,” said Eugene Willemsen, CEO, Africa, Middle East, and South Asia, PepsiCo and CEO of International Beverages.
The convergence of local talent with a global perspective and a supportive private sector network is propelling Lebanon into the forefront of the startup scene, making it an exciting hub for investors seeking talent and innovation. In the last two years, PepsiCo has granted two Lebanese start-ups $100,000 each, having announced them as winners of its flagship Greenhouse Accelerator Program in MENA – Nadeera, a social enterprise offering an integrated, inclusive, and innovative solid waste management platform driving forward a circular economy in the region, as well as Dooda Solutions – a pioneering, woman-led earthworm farm specializing in large-scale vermicompost production.
Strategic investment partners like Dubai Future District Fund, Venture Souq and Shurooq Partners will provide platforms for investment opportunities, mentorship in raising capital, and networking opportunities. They will also inform startup criteria and participate in the selection process to maximize investment success. In Lebanon, local ecosystem partner Berytech will source applicants through its networks, amplify Accelerator information and communicate progress through its channels. Schneider Electric will support the Accelerator as a prize partner, participating in the final selection of participants.
Investment into climate change mitigation solutions is critical in the MENA region, where temperatures are warming almost two times faster than the global average. That elevates the importance of private sector initiatives and in Lebanon, PepsiCo is backing the entrepreneurial spirit of young changemakers with targeted investment towards innovation and collaboration that can create tangible opportunities for growth.
Apply for the Mega Green Accelerator at: https://astrolabs.com/themegagreenaccelerator/. To stay updated on news related to the Mega Green Accelerator, follow on Instagram, Facebook, LinkedIn, Twitter (X), and YouTube.
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