10 MENA startups announced for PepsiCo’s Greenhouse Accelerator
PepsiCo has selected 10 companies for the first MENA edition of the Greenhouse Accelerator program, following a rigorous multi-step review process. This initiative was initiated in collaboration with the UAE Ministry of Climate Change and Environment and was formally enacted after a memorandum of understanding was signed between the Ministry, Foodtech Valley and PepsiCo.
PepsiCo has also become the first multinational company to partner with Food Tech Valley. This is an initiative initiated by the UAE Government to act as a hub for future clean technology-based food and agricultural products.
A specially curated selection committee consisting of PepsiCo executives and members of the UAE Climate Change Environment Ministry and Food Tech Valley will coordinate sustainability to PepsiCo Positive (pep +), strategic synergies with PepsiCo. Efficacy, scalability, MENA and breakthrough possibilities.
Judges of this edition accelerate the environmental sustainability of the food and beverage industry through disruptive technologies through sustainable packaging alternatives, packaging reductions, recycling processes, and modified sustainable recycling behavior. I searched for a start-up company. The program aims to drive packaging space solutions and innovations that help PepsiCo and other industries accelerate the transformation into a more sustainable food system.
The MENA edition of this program was launched last year and has received nearly 70 applications from ambitious startups in the region. The six-month initiative will focus on the first grants to support operations and help launch or scale up innovation. In addition, we seek to enhance innovation in the area of sustainability through collaboration with purpose-driven brands in the MENA startup ecosystem that share a common vision for a more sustainable food system.
Read: PepsiCo Announces MENA Version of Greenhouse Accelerator Program
The 10 selected companies will each receive a US $ 20,000 initial grant to support their business, along with guided mentorship from PepsiCo and Food Tech Valley experts. Experts provide guidance on R & D, business models, product development, regulatory practices and market revitalization. Their expertise also helps companies overcome challenges in supply chain, marketing, distribution, manufacturing, packaging, labeling, financing, and other business elements.
At the end of the program, the final winner will receive a $ 100,000 grant from PepsiCo to gain access to a growing network of professionals and investors, logistics facilities and the opportunity to grow through capacity building. Selected start-ups will also have the opportunity to showcase innovation to reputable technology industry experts at PepsiCo’s major regional event, Step Conference, which PepsiCo has partnered and sponsored this year.
“In the face of rising global challenges, innovative start-ups have proven to be a rich source of breakthrough solutions to the pressing economic and environmental sustainability issues. The Ministry of Climate Change and Environment is pleased to be the main partner of the Greenhouse Accelerator program, which aims to harness the power of startups to make the food and beverage sector more sustainable. This initiative is moving to the circular economy. Consistent with UAE’s willingness to do, the environment is another example of how Pepsico and the Food Tech Valley are stimulating positive change for the benefit of people and the planet.
Middle East – PepsiCo CEO Aamer Sheikh said the program prioritizes circulation and inclusiveness by building a positive value chain through pep +, a strategic end-to-end transformation framework. I said it is an example of how to do it.
He added: “We received applications from a group of leading startups that are innovating in the field of sustainable packaging. We hope to support them and help the community by unleashing their potential over the next six months. I’m looking forward to it. Of the destroyer. “
“MENA’s startup ecosystem is on a growth track and we are witnessing the introduction of a number of innovative businesses that have pushed the boundaries in their respective fields, so to support the PepsiCo Greenhouse Accelerator program and local innovators. It is a great pleasure to sign this Memorandum of Understanding. Such an initiative is a plan for economic diversification of our country and the government to give pioneering individuals and start-ups the opportunity to introduce solutions for a sustainable future. We are committed to expanding our full support to the winners and look forward to future sustainable ideas, “said Hesham AlQassim, CEO of wasl Asset Management Group, developer of Food Tech Valley.” I am.
https://gulfbusiness.com/ten-mena-startups-announced-for-pepsicos-greenhouse-accelerator/ 10 MENA startups announced for PepsiCo’s Greenhouse Accelerator