PepsiCo announces six start-ups selected for the 2023 Greenhouse Accelerator Program: MENA Sustainability Edition
Riyadh: Gulf Tech News
Today, PepsiCo announced the six companies that will be part of the second cohort of its Greenhouse Accelerator Program: MENA Sustainability Edition. Following a rigorous multi-stage selection process, this year’s cohort brought forward innovative ideas across five key criteria: alignment to PepsiCo’s sustainability strategy – PepsiCo Positive (pep+) – strategic synergy with PepsiCo, scalability, relevance to MENA, and breakthrough potential.
PepsiCo is committed to an accelerated, sustainable growth agenda in Saudi Arabia. It has placed focus on engaging local farms to promote innovation, knowledge transfer, and agricultural best practices, ensuring increased productivity and quality. Moreover, with a significant investment of over SAR 117 million ($31.4 million) on locally grown potatoes from strategic growers in Saudi Arabia, PepsiCo supports the creation of more than 3,200 jobs in the agricultural sector.
The six shortlisted companies, Dooda Solutions, NoorNation, RoboCare, SmartWTI, Smart Green, and YY ReGen, were selected from over 180 applications across 18 countries. Each of the companies brings a unique level of expertise and innovative solution to the table from all aspects of the agriculture value chain from water preservation to soil cultivation. These startups have the potential to disrupt the sustainable agriculture industry and make a positive, lasting impact across the region.
Each will receive an initial grant of $20,000 to support their business and help scale up their innovation, along with guided mentorship from regional subject matter professionals, as well as PepsiCo and Food Tech Valley experts. At the end of the six-month program, one winning company will be awarded an additional $100,000 in funding to continue its expansion and have an opportunity to extend its collaboration with PepsiCo to further expedite its growth.
Aamer Sheikh, CEO, Middle East – PepsiCo said, “We are delighted to continue our search for pioneering solutions that help us strengthen the resilience of our food system. This year, we have embarked on a search for transformative direct farming innovations that increase agricultural productivity while conserving our precious natural resources for the next generations. We know the Kingdom faces unique geographical challenges including arid climate, scarce arable land, and limited water supply. Through the Greenhouse Accelerator Program, we want to work with the region’s most promising start-ups to apply their innovations within and beyond Saudi Arabia and blaze new trails in sustainable agriculture.”
Introduced regionally in 2021, last year’s inaugural program of the PepsiCo Greenhouse Accelerator Program: MENA Sustainability Edition, focused on sustainable packaging and recycling. Saudi-based start-up Okeanos, a sustainable innovation company developing calcium carbonate technologies to immediately reduce plastic pollution, was one of the ten companies selected. Their patented Made From Stone (MFS) technology replaces the majority of oil-based resin with naturally abundant CaCO3 through source reduction, using technical and specialized compounds to reduce plastic content and CO2 by up to 67% today.
As a longstanding investor in Saudi Arabia, PepsiCo is a committed partner in the Kingdom’s Vision 2030 and its aim of promoting agricultural resiliency. The company has established several initiatives to increase water efficiency, which is at the core of PepsiCo’s sustainability agenda. In 2022, PepsiCo’s Saudi snacks business achieved an impressive 22% reduction in water consumption through the implementation of sustainable practices such as off-peak harvesting, enhanced irrigation systems, and advanced water monitoring technologies. Additionally, PepsiCo installed efficient irrigation technology in the Wadi Al Dawasir region, resulting in the replenishment of 100% of the water consumed in Riyadh in 2022.
Through collaborative efforts, PepsiCo aims to introduce best practices in irrigation and contribute to addressing water sustainability challenges.
