PepsiCo, SABIC, and Partners Unveil Mega Green Accelerator

PepsiCo and SABIC, in collaboration with AstroLabs and other strategic partners, have launched the Mega Green Accelerator, as per a press release.^[1]  

With an emphasis on clean energy transition, climate mitigation technology, and circular economy solutions—with a particular focus on water and agriculture—the initiative seeks to develop the next generation of innovators in the MENA area.

Since 2010, the MENA region has seen the founding of less than 50 new climate technology startups, in stark contrast to nearly 5,000 in Europe and the US.

By encouraging regional cooperation and creating a network of innovators committed to taking on the area's most critical sustainability concerns, the Mega Green Accelerator aims to rectify this mismatch.

The first round of the accelerator program will prioritize projects about the circular economy, renewable energy transitions, and water and agriculture solutions—all of which are pressing issues for the Middle East.

In addition to offering seed funding and mentorship, the partners will provide participating entrepreneurs access to influential business leaders in the region.

Investment opportunities, capital raising mentorship, and networking opportunities will be offered by investment partners Dubai Future District Fund, Venture Souq, and Shurooq Partners.

They will also contribute to startup criteria and participate in the selection process to enhance investment success.

Ecosystem partners, including the 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 play a vital role in sourcing applicants, amplifying accelerator information, and communicating progress through their networks.

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