Applications open
FEB 14 2024
Application deadline
MAR 31 2024
Finalists announcement
APR 2024
Program kick-off
MAY 2024
Program closure
AUG 2024
Demo Day
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Viridia Tech announced as winner of the 2024 Mega Green Accelerator
INTRODUCING
The Mega Green Accelerator Program
The Mega Green Accelerator program 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. PepsiCo and SABIC, alongside 12 strategic partners are launching the Mega Green Accelerator 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.
Accelerator Tracks
Founding Partners
PepsiCo is one of the world’s largest food and beverage companies. Guided by its strategic end-to-end transformation strategy, pep+ (PepsiCo Positive), PepsiCo has taken significant strides in building a sustainable food system, acknowledging the need for innovation in climate action. Over the years, through flagship initiatives such as the PepsiCo Greenhouse Accelerator: MENA Sustainability Edition, launched in partnership with the UAE Ministry of Climate Change and Environment and Food Tech Valley, PepsiCo has previously empowered entrepreneurs across MENA, to scale disruptive solutions to pressing sustainability challenges cutting across packaging and agriculture. The new Mega Green Accelerator, launched at COP28, sees PepsiCo working closely with a broader pool of industry players to unlock innovative solutions in a bid to make the region more food secure. This includes nurturing start-ups focused on circular economy solutions, clean energy transition and climate mitigation technologies in the areas of water and agriculture.
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.
Operating Partner
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.
SPONSORSHIP PARTNER
INVESTMENT PARTNERS
ECOSYSTEM PARTNERS
Why join the program?
The program provides a high level of support and investment and equips forward-looking businesses to build towards a greener tomorrow.
EXPAND YOUR NETWORK
Startups selected to join the program will have the opportunity to expand their network, gain exposure, and pitch their proposals to our founding partners, as well as their relevant industry and ecosystem partners.
ACCESS FUNDRAISING OPPORTUNITIES
Dubai Future District Fund, Venture Souq and Shurooq Partners will provide platforms for investment opportunities, mentorship in raising capital, and the chance to forge potential strategic partnerships.
LEARN FROM TOP-TIER INSTRUCTORS AND MENTORS
The 12-week online Mega Green Accelerator Program will focus on actionable and targeted topics to help you bring your startup to the next level.
ONE STARTUP WILL RECEIVE UP TO 30,000 USD IN CASH FUNDING
Thanks to a prize partner, Schneider Electric, the most impressive proposals could potentially have the opportunity to access cash funding of up to 30,000 USD.
Who can apply?
Applicable Product
All applicants must have a sustainable solution applicable, and aligned with at least one of the following tracks:
a. Food security, water and agriculture
b. Circular economy
c. Energy transition
Location
All applicable startups must have their operations centered in the Middle East and North Africa region.
Market Readiness
Eligible startups must demonstrate technological market readiness (TRL) 4 to 7, having progressed beyond the Minimum Viable Product (MVP) stage. Companies with a proven track record, evidenced by revenue or successful integrations in industries comparable to their focus areas will be prioritized.
Fundraising Stage
Applicable startups should currently be raising funds or have plans to start raising funds in 2024. Startups who have closed their seed round or Series-B round will not be eligible.
Impact
All applicants need to be ready to measure and track the impact of their respective solutions in the related sustainability areas.
Timeline
FAQs
Can I apply for more than one program track?
Applications are limited to only one track per applicant. Please make sure to apply to the program focus that is most relevant to your company.
When is the last date to apply?
March 15, 2024
What happens after I apply?
Following the application deadline, we will review all submissions internally based on the criteria mentioned. We will get in touch for any additional information (if required).
If you are shortlisted, you will be informed via the email address you have included within your application.
What happens if I get selected?
Selected startups will receive an acceptance confirmation email and will be invited to an onboarding session that will provide them with additional information and resources.
What type of companies are best suited for The Mega Green Accelerator?
All startups in the MENA region working on innovative solutions addressing at least one of the three program tracks are welcome to apply. However, we will prioritize the solutions best suited for the operations of the founding partners to enhance mentorship suitability as well as those with the highest potential for fast integration and scalability.
Will the information in my application be treated as confidential?
All information submitted through the application form will be treated for the sole purpose of the program and will not be shared with any third party without the consent and approval of the submitter.
PepsiCo, SABIC & AstroLabs do not claim any proprietary rights over the brands and/or technologies that are submitted to the Program. All information and technologies are the sole property of the submitters.
Will the program be conducted in person or online?
The 12-week The Mega Green Accelerator program will be online, however, all selected startups will be invited to attend the Launch Event in April and Demo Day in September, in person. (Date and location to be decided and communicated to successful aplicants)
Why do we need this Accelerator?
Despite the risks to the region due to climate change, the sustainability innovation ecosystem in MENA is fragmented.
Sustainability startups have limited access to funding, networks and supply chains. Since 2010, 49 new climate technology startups have been founded in the MENA region compared to 2,984 in Europe and 2,003 in the US.
The MENA region is warming about 2x faster than the global average. Of the 20 cities around the world expected to be most affected by rising sea levels, 10 are in the MENA region.
What impact will The Mega Green Accelerator have?
The Mega Green Accelerator will cultivate a long-term collaborative network of innovators across MENA dedicated to
addressing key sustainability issues in the region.
The Accelerator aims to foster regional collaboration, driving viable solutions to shared challenges related to water and agriculture, as well as the transition to clean energy and a circular economy.
How will The Mega Green Accelerator come to life?
Partnership will be critical to the success of the accelerator.
Partners will offer expertise, mentorship, financial resources and amplification to help scale the impact of startup innovations in the region.
The Accelerator offers an opportunity to connect with some of the most promising entrepreneurs and future sustainability leaders across the region.
