– Viridia Tech wins the USD100,000 grand prize at the 2024 Mega Green Accelerator in Riyadh for its AI-driven platform that enhances crop efficiency and yield forecasting. 

– Mirai Solar secures the $30,000 second place prize for its innovative solar-powered shade system, contributing to sustainable energy solutions. 

– The Mega Green Accelerator, launched by PepsiCo, SABIC, and AstroLabs, selected eight startups from over 350 submissions, focusing on innovative solutions for food security and clean energy transitions. 

In a significant achievement for innovation and sustainability, Egypt-based Viridia Tech has been named the first winner of the 2024 Mega Green Accelerator, according to media reports.

This announcement came during an exciting Demo Day that showcased eight startups from the Middle East and North Africa (MENA) region, each presenting groundbreaking solutions to critical challenges such as food security, clean energy transitions, and the circular economy.

During the Demo Day, Viridia Tech was awarded the $100,000 grand prizefor its innovative artificial intelligence and data analytics platform. This platform offers real-time insights and recommendations, helping farmers improve crop efficiency and accurately forecast yields.

Additionally, Mirai Solar, based in Saudi Arabia and known for its solar-powered shade system, received the $30,000 second place prize.

The Mega Green Accelerator, launched in 2023 by PepsiCo, SABIC, AstroLabs, and eleven other strategic partners, attracted over 350 submissions. The eight selected startups participated in a comprehensive six-month program that included training sessions, mentorship from industry leaders, and networking opportunities aimed at scaling their businesses and connecting with potential investors.

“PepsiCo has been a key partner in the region for 70 years, and we remain committed to supporting progress and empowering the next generation,” said Wael Ismail, Vice President of Corporate Affairs, PepsiCo.

“Through MENA Innovates, we are focused on driving meaningful change by backing startups and advancing broader initiatives that promote innovation across the region. We look forward to seeing how the startups will contribute to a more sustainable future,” AMESA (Africa, Middle East, and South Asia), Ismail added.

“The success of this year’s Mega Green Accelerator programme has created a blueprint for accelerating the growth of the sustainability sector in the region, particularly in the UAE and Saudi Arabia,” said Roland Daher, Chief Executive Officer, AstroLabs.

“Our collaboration with PepsiCo, SABIC and other strategic partners has unlocked unparalleled access to large-scale industry leaders for this cohort’s participants, plugging them directly into the sustainability value chain to unlock opportunities for rapidly scaling with the right support at the right time. We’re genuinely excited to see how Viridia Tech, as well as the other innovators in the programme, will step up to address critical sustainability gaps and play a key role in pushing the region towards a greener, more sustainable future,” Daher added.

The Mega Green Accelerator is part of PepsiCo’s MENA Innovates initiatives, which champion entrepreneurship, innovation, and sustainability through various events and programs designed to celebrate groundbreaking ideas and inspire the leaders of tomorrow.