Mega Green MENA Accelerator unveiled by PepsiCo, SABIC, AstroLabs

PepsiCo, SABIC, AstroLabs, and their strategic partners have launched the Mega Green Accelerator.

The new initiative aims to nurture the next generation of entrepreneurs in the region to develop solutions to sustainability challenges.

Since 2010, less than 50 new climate technology startups have been founded in the MENA region, compared to nearly 5,000 in Europe and the US.

The priority focus areas for the first round of the accelerator programme include circular economy, clean energy transitions, water and agriculture, some of the most pressing issues for the Middle East. 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.

Eugene Willemsen, CEO of PepsiCo, Africa, Middle East, South Asia, said: “Innovators in the MENA region have incredible potential for scaling and are making important strides to develop homegrown solutions to address the unique challenges the region is facing.

“COP28 is already putting a spotlight on climate innovations coming out of the UAE and the region at large, and PepsiCo is excited to support the next generation of climate leaders through the Mega Green Accelerator.

“By bridging the gap between entrepreneurs and the networks and resources they need, we are committed to supporting breakthrough startups as they scale sustainability solutions, grow their businesses and form critical connections.”

Read: Eugene Willemsen, CEO – PepsiCo AMESA, shares the company’s “positive” outlook on sustainability

Strategic partners driving Mega Green Accelerator

Investment partners Dubai Future District Fund, Venture Souq and Shurooq Partners will provide platforms for investment opportunities, mentorship in raising capital, and networking opportunities for the startups in the programme.

They will also inform startup criteria and participate in the selection process to maximise investment success.

Ecosystem partners London Business School Entrepreneurship Club, Berytech, American University of Cairo Venture Lab, the Sharjah Research Technology and Innovation Park, and the Mohammed VI Foundation for Environmental Protection will source applicants through their networks, amplify Accelerator information and communicate progress through their channels.

Schneider Electric will support the accelerator as a prize partner, participating in the final selection of participants.

The priority focus areas of the Mega Green Accelerator align with PepsiCo’s transformation strategy, pep+, and the other partners’ sustainability agendas.