PepsiCo has announced UAE-based startup Nadeera as the winner of the first iteration of its Greenhouse Accelerator program: MENA Sustainability Edition.
The program is a mentor-led global accelerator program that launched in the MENA region in November 2021.
The first iteration, in partnership with the United Arab Emirates Ministry of Climate Change and Environment and Food Tech Valley, aimed to identify regional startups offering innovative solutions focused on sustainable packaging and recycling, advancing the PepsiCo Positive (pep+) goals to help build a circular and inclusive environment. value chain.
Nadeera was chosen following a rigorous evaluation process and received a six-month PepsiCo mentorship program. The startup will receive a $100,000 grant and other benefits to scale its sustainable packaging solution and grow its business.
Nadeera is a social enterprise and its product “Yalla Return” is the first “Trash for Cash” system in the MENA region. It offers customers cash rewards based on the number of recyclables they turn in. The concept provides resident-centric, technology-based waste management solutions for municipalities and waste management authorities.
In addition to the prize, the winner will receive an annual Viya Fitness and Leisure Family Pass courtesy of Food Tech Valley to enjoy upon completion of the program, as well as inclusion in the Arab Youth Startup Marketplace cohort and access to partners in the Arab Youth Council.
All of the startups that participated in the program received a $20,000 grant and one-on-one mentorship from PepsiCo and Food Tech Valley executives for six months, who guided them on everything from research and development to business models, marketing and fundraising.
“Startups have always been known for rising to the challenge, innovating fearlessly and breaking the mould, especially in the face of growing global challenges like sustainability. The Department of Climate Change and Environment is delighted to support PepsiCo’s Greenhouse Accelerator program, which recognizes the potential of startups to make the food and beverage industry more sustainable. The initiative aligns with the UAE’s drive to transition to a circular economy and is another example of how great ideas can be born through open innovation and collaboration,” said Mariam bint Mohammed. Almheiri, Minister of Climate Change and Environment.
“We are excited to see the positive change Nadeera will bring to sustainability in the region and we look forward to creating opportunities for more promising startups through our upcoming editions of the Greenhouse Accelerator program,” said Aamer Sheikh, CEO, Middle -East – PepsiCo.
“We are thrilled to have been selected as winners of PepsiCo’s Greenhouse Accelerator program. We recognize that we were up against a pool of outstanding regional startups with similar goals, passion, and capabilities, and we are very grateful for this recognition. The financial support as well as the mentorship of the past few months will help us grow our business in ways we could not have imagined before the program. As a startup in the sustainability sector, we try to overcome many obstacles. From changing consumer mindsets to overcoming capital, resource and network challenges, we still have a long way to go,” said Rabih El Chaar, CEO and Co-Founder of Nadeera.