Startups going green in MENA region
Cleantech and environment startups will be a main focus of the upcoming GITEX Future Stars event, to be held in Dubai from 8 to 12 October. The event is one of the Middle East and North Africa (MENA) region’s largest startup gatherings of tech entrepreneurs, international investors and influential corporate buyers. It also acts as a commercial sales platform for startups alongside GITEX Technology Week, a regional tech sourcing and networking event, featuring the participation of the private sector, governments and other organizations.
Startups from across the MENA region are becoming trailblazers when it comes to green initiatives. In Lebanon, BlinkMy Car offers an App which circumvents water shortages by offering an on-demand car wash service requiring very limited water. Eco-dôme in Morocco, creates environmentally friendly domes, using a mixture that is 90% earth and 10% cement at half the price. Recyclobekia in Egypt, seeks to revolutionize electronic waste disposal by purchasing or collecting e-waste, then refurbishing what is possible locally, and selling the rest to recycling factories abroad. Saphon Energy in Tunisia, builds bladeless wind turbines which are more efficient and less expensive than traditional models. Zero Mass Water in Jordan, has developed solar panels which extract, condense, and purify water from thin air.
Governments, business leaders and startups are adopting more environmentally friendly solutions. Just last year, the region collectively tripled its renewable investments, and last spring the UAE launched the Middle East’s first green bond, raising over $500 million. At the first ChangemakerXchange Summit, held in April in Dubai, twenty entrepreneurs from across the Middle East were selected to receive access to fundraising, resources, and mentorship. Overall, startup investment in the Middle East and North Africa will near $1 billion in 2017, according to the World Economic Forum, a clear signal of the strong business potential for entrepreneurs investing in innovative solutions.
Resources: The Middle East's start-up scene – explained by the World Economic Forum | Statistics on the MENA startup community - MAGNiTT research | The Global Startup Ecosystem Report 2017 | Startups and Entrepreneurs supported by Switchmed programme |