- The startups presented their innovative solutions across the circular economy, clean energy transitions, and food security at an industry Demo Day in Riyadh
- Egypt’s Viridia Tech was selected as the overall winner for their impactful data analytics platform which helps farmers to grow crops more sustainably and efficiently
Riyadh, Saudi Arabia: Viridia Tech has been named the overall winner of the 2024 Mega Green Accelerator, following an exciting industry Demo Day held in Riyadh where eight startups from across the Middle East and North Africa region showcased innovative solutions addressing food security, clean energy transitions, and the circular economy.
The Mega Green Accelerator, launched in 2023 by PepsiCo, SABIC, AstroLabs, and eleven other strategic partners, received over 350 submissions. The eight selected startups participated in a six-month program of trainings and workshops, mentorship from business leaders, and opportunities to network, scale their businesses, and gain access to investors.
“PepsiCo has been a key partner in the region for 70 years, and we remain committed to supporting progress and empowering the next generation. Through MENA Innovates, we are focused on driving meaningful change by backing startups and advancing broader initiatives that promote innovation across the region. We look forward to seeing how the startups will contribute to a more sustainable future,” said Wael Ismail, Vice President of Corporate Affairs, PepsiCo AMESA (Africa, Middle East, and South Asia).
At the Demo Day, Egypt-based Viridia Tech was awarded the $100,000 grand prize for their artificial intelligence and data analytics platform, which provides real-time insights and recommendations to help farmers grow crops more efficiently and sustainably and forecast yields accurately. Saudi Arabia-based Mirai Solar, which produces an innovative solar-powered shade system, received the $30,000 second place prize.
“The success of this year’s Mega Green Accelerator program has created a blueprint for accelerating the growth of the sustainability sector in the region, particularly in the UAE and Saudi Arabia. Our collaboration with PepsiCo, SABIC and other strategic partners has unlocked unparalleled access to large-scale industry leaders for this cohort’s participants – plugging them directly into the sustainability value chain to unlock opportunities for rapidly scaling with the right support at the right time. We’re genuinely excited to see how Viridia Tech, as well as the other innovators in the program, will step up to address critical sustainability gaps and play a key role in pushing the region towards a greener, more sustainable future,” said Roland Daher, Chief Executive Officer, AstroLabs.
The Mega Green Accelerator is part of PepsiCo’s MENA Innovates programs, which champion entrepreneurship, innovation, and sustainability through a series of events and initiatives that celebrate groundbreaking ideas and inspire future leaders.
About the Mega Green Accelerator
The Mega Green Accelerator is a new initiative to nurture the next generation of innovators in MENA as they aim to develop solutions to both regional and global sustainability challenges.
In recent years, the Middle East has witnessed a significant increase in temperatures, presenting a unique opportunity for proactive initiatives in sustainable innovation. Despite the region’s accelerated warming, the current support and investment in the sustainability innovation ecosystem have not fully embraced the potential for growth and positive change. The program aims to bridge this gap and catalyze a surge in climate technology startups within the MENA region, fostering a collaborative environment that nurtures innovation and addresses the urgent sustainability challenges specific to the region, through the creation of diverse and scalable solutions.
Founding partners PepsiCo and SABIC, and operating partner AstroLabs, launched the Mega Green Accelerator at COP28 with the aim of combatting those issues. The priority focus areas for the first round of the Mega Green Accelerator program include circular economy, clean energy transitions, and food security with a focus on water and agriculture. In addition to seed funding and mentorship, the partners will provide participating entrepreneurs access to some of the most prominent business leaders in the region.
The Mega Green Accelerator saw widespread collaboration from various entities in the private and public sectors. Strategic investment partners like Dubai Future District Fund, Venture Souq and Shurooq Partners provide platforms for investment opportunities, mentorship in raising capital, and networking opportunities. Schneider Electric supported the Mega Green Accelerator as a prize partner alongside participating in the final selection of the winner.
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’s website.
About the start-ups participating in the 2024 edition
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UAE |
Mrüna, inspired by the Arabic word for resilience, is a consulting and distribution company dedicated to developing innovative urban solutions. Their flagship product, BiomWeb, is a nature-based solution that utilizes emerging technologies to treat and manage wastewater for reuse. |
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The Surpluss is a US-patented award-winning climate technology start up that helps SMEs reduce their greenhouse gas emissions, profitably, through resource sharing through a digital sustainability exchange. |
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Saudi Arabia |
Mirai Solar expands the utilization of solar energy beyond conventional applications via its proprietary Mirai Screen – a lightweight and foldable electricity generating shade screen. Mirai’s solutions dramatically improve the energy use efficiency of food production and smart buildings for a sustainable future. |
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AHYA TECHNOLOGIES is a climate software and AI start-up building a unified platform for scaling climate action across the Middle East North Africa & Pakistan. Ahya has two core products in AhyaOS – AI powered greenhouse gas emissions operating system and Tawazun – omni-channel voluntary carbon marketplace. |
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Lebanon |
YY ReGen is an innovator in agritech and renewable energy committed to transforming the way customers’ ventures are powered, watered, and grown. They focus on a more affordable, less pollutive, and regenerative approach to create a sustainable future. |
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Egypt |
Viridia Tech offers a platform enabling crop analytics at scale for industrial agricultural companies offering unprecedented monitoring capabilities and refined recommendations resulting in double digit improvements in yield, unit economics and sustainability metrics. |
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P-VITA is a pioneer biotechnology hub that specializes in producing natural raw materials for the cosmetics, and food & beverage industries through innovative and patented processes with utilizing AI and IoT technologies to reduce carbon footprint through automated processes. |
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Tunisia |
Kumulus a water tech startup that turns air into fresh drinking water through innovative AWG machines. Their machines make drinking water more accessible, sustainable, and economical for hotels and businesses across MENA and southern European regions. |
About PepsiCo
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $91 billion in net revenue in 2023, driven by a complementary beverage and convenient foods portfolio that includes Lay’s, Doritos, Cheetos, Gatorade, Pepsi-Cola, Mountain Dew, and Quaker. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including many iconic brands that generate more than $1 billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in Beverages and Convenient Foods by Winning with pep+ (PepsiCo Positive). pep+ is our strategic end-to-end transformation that puts sustainability and human capital at the center of how we will create value and growth by operating within planetary boundaries and inspiring positive change for planet and people. For more information, visit www.pepsico.com, and for Middle East updates follow on X (Twitter), Instagram, Facebook, and LinkedIn @PepsiCoMiddleEast.
About SABIC
SABIC is a global diversified chemicals company, headquartered in Riyadh, Saudi Arabia. It has more than 31,000 employees worldwide and operates in around 50 countries. It manufactures on a global scale in the Middle East, Americas, Europe and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high-performance plastics, agri-nutrients and metals. Fostering innovation and a spirit of ingenuity, SABIC has 9948 patents and pending applications, and has significant research resources with innovation hubs in key geographies around the world. SABIC supports its customers by identifying and developing opportunities in key end-use applications such as construction, medical devices, packaging, agri-nutrients, electrical and electronics, transportation, and clean energy.
About AstroLabs
AstroLabs is the leading business expansion platform in the Gulf, propelling high-growth companies across strategic industries. With a decade of supporting economic development in emerging markets, AstroLabs is the partner of choice for over 1,500 companies that have expanded across the region, engaging a vibrant community of 10,000+ market leaders in the UAE and KSA.
Bridging key gaps in fundamental industries in the Gulf, AstroLabs designs sector-focused and outcome-driven programs in partnership with government entities and the private sector. AstroLabs is committed to building the future of key sectors, driving market access, and contributing to regional visions like Saudi Vision 2030.
