The Mega Green Accelerator will be open to startups in the MENA region focusing on circular economy solutions, clean energy transition and climate mitigation technologies, including water and agriculture.The Accelerator is a collaboration between PepsiCo, SABIC, AstroLabs and other strategic partners.Dubai, United Arab Emirates: On the heels of the first week of COP28, PepsiCo, SABIC, AstroLabs and their strategic partners have announced the launch of the Mega Green Accelerator, a new initiative to nurture the next generation of innovators in the region as they develop solutions to both regional and global sustainability challenges. The Middle East is warming almost two times faster than the global average, yet the support and investment for the sustainability innovation ecosystem in the region does not match this urgency. 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 Mega Green Accelerator aims to reduce this gap, foster regional collaboration and cultivate a network of MENA-based innovators addressing the most pressing sustainability challenges in the region.The priority focus areas for the first round of the Accelerator program 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.“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 start-ups as they scale sustainability solutions, grow their businesses and form critical connections,” said Eugene Willemsen, CEO of PepsiCo, Africa, Middle East, South Asia. In addition to PepsiCo, SABIC and AstroLabs, the Accelerator will leverage its strategic partners’ unique capabilities and expertise to best support participating entrepreneurs. Investment partners 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.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. “SABIC is proud to join with PepsiCo and other fellow partners to provide our business expertise, mentorship, resources and platform to help the brightest minds in the region reach their full potential through the Mega Green Accelerator. We believe that such cross-sector partnerships are crucial in effectively tackling complex, critical issues such as climate change. In supporting this initiative, we are not just bettering local economies, but people and planet at the same time,” said Dr.Bob Maughon, SABIC Chief Technology and Sustainability Officer."Our partnership with PepsiCo and SABIC comes at an exciting time - it’s a strategic step in accelerating innovation within the GCC, with a strong focus on sustainability. With the influx of international sustainable and climate-conscious companies, the region is rising as a global testbed for innovation - we will double down on creating an environment where these businesses can scale into the local markets. Our aim is to ensure the GCC not only responds to the current demand for green solutions but also pioneers the advancement of sustainable business practices on a global scale,’’ said Roland Daher, CEO, AstroLabs.The priority focus areas of the Mega Green Accelerator align with PepsiCo’s transformation strategy, pep+ (PepsiCo Positive) and the other partners' sustainability agendas, while further driving collaboration with businesses across the region to catalyze positive impact. In the coming months, PepsiCo and partners will share additional details and application information for the Mega Green Accelerator. To stay updated, follow PepsiCo Positive (pep+) Middle East LinkedIn page and @PepsiCo on Twitter, Instagram, Facebook, and LinkedIn.

Dubai: London Business School’s MENA Startup Competition has secured the support of AstroLabs for this year’s event, with the AstroLabs Campus facility in Dubai, United Arab Emirates, offered as a venue for this year’s event. Additionally, AstroLabs is offering a broader, long-term community partnership role for the work that LBS undertakes to promote, teach and support the growing entrepreneurial ecosystem within the region.With ambitions to become one of the most acclaimed startup competitions in MENA, aiming to connect aspiring entrepreneurs with VCs and investors across the region, the inaugural LBS MENA Startup Competition in 2022 attracted strong, talented competition, with leading tech startup, Ollang, crowned the winner.AstroLabs, an ecosystem builder in MENA since 2013, operates as the region’s trusted partner in solving innovation challenges, building self-sustaining ecosystems, and accelerating the growth of the digital economy by driving impactful large-scale programmes, and fast-tracking regional and global businesses‘ scaling strategies into MENA.With a mission to build competitive local markets, helping to elevate local enterprises to global standards and enabling international companies to thrive in local landscapes, AstroLabs recognises the importance of the role that LBS plays in the region and the growing prominence of the MENA Startup Competition.Ramzi Qannati along with Ihab Tabbara, Co-Presidents of the London Business School Entrepreneurship Club, are both managing and providing mentorship for this year’s event, working with a talented body of LBS students from around the world.Mr Qannati, himself an LBS alumnus (EMBA 2019), said it is rewarding to learn that London Business School, through its work undertaken at the School’s Institute of Entrepreneurship and Private Capital (IEPC), has become so very well known for its international leadership and educative role in inspiring entrepreneurs and private capital investors.“Collaborative partnerships play a pivotal role in fostering successful entrepreneurship ecosystems. The presence of aligned partners who not only embrace our vision of generating value for both founders and investors but also bolster our endeavors, magnifies our capacity to drive concrete outcomes. We consider ourselves extremely fortunate to welcome AstroLabs as our Community Partner for this year's LBS MENA Startup Competition. By empowering the broader business ecosystem with essential tools, expertise, and profound insights necessary for catalyzing growth, we hold a strong belief that AstroLabs will significantly enrich this journey as a valuable contributor,” says Mr Qannati.Roland Daher, CEO of AstroLabs and an LBS alumnus (EMBA 2010), said, ”We've been actively supporting this ecosystem for a solid decade now, and there's a noticeable rise in the competitive capacity of regional startups and SMEs on the global level. Partnering with the LBS MENA Startup Competition is another way for us to continue honoring our commitment to enabling the entrepreneurial landscape."Daher added, "This year's competition is particularly interesting for us. Aligned with the business school's broader objectives, we're excited to be part of this initiative and support building a stronger connection between LBS and the wider entrepreneurial community. Our partnership aims to facilitate the integration of a new generation of ambitious entrepreneurs into our regional framework and provide a boost to their scaling strategies."Also to be included in the package of support for this year’s competition by AstroLabs will be access to mentorship for the finalists and a platform of valuable support for this year’s winner, including discount membership of AstroLabs itself.Speaking about the association with AstroLabs, Mr Qannati added: “I am an ardent believer in the abilities of young people within the MENA region who are driving the country’s growing enterprise sector. When I see relationships such the one forged between AstroLabs and this exciting new LBS startup competition I don’t just see a connection being made, but rather an entire ecosystem growing and flourishing”.