Saudi SABIC joins PepsiCo, UAE’s AstroLabs for Mega Green Accelerator to serve MENA startups

Saudi SABIC joins PepsiCo, UAE’s AstroLabs for Mega Green Accelerator to serve MENA startups

Mubasher: Saudi Basic Industries Corporation (SABIC) has teamed up with Dubai-based AstroLabs as well as strategic partners to launch the Mega Green Accelerator which will endorse startups in the MENA region in climate-related fields.

The new initiative is designated to startups focusing on circular economy solutions, clean energy transition, and climate mitigation technologies, according to a press release.

The involved partners will provide participating entrepreneurs with access to part of the most prominent business leaders in MENA in order for them to seed funding and mentorship. The initiative aims to nurture the next generation of innovators as they develop solutions to overcome regional and global sustainability challenges.

CEO of PepsiCo, Africa, Middle East, and South Asia, Eugene Willemsen, 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.”

Willemsen added: “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.”

The Mega Green Accelerator has its investment partners, Dubai Future District Fund, Venture Souq, and Shurooq Partners, to provide platforms for investment opportunities and mentorship