The Egyptian Ministry of International Cooperation has revealed the names of the startups that have made it to the final round of the 2nd edition of the Global ClimaTech Run 2023 competition, which is being held in collaboration with the Ministries of Communications and Information Technology and the Environment, as well as international organizations and the private sector.
Al-Mashat: Startups are essential to developing solutions to reduce and adapt to climate change.
Startups from 44 countries applied to the competition, 53% of which are in a mature stage of growth. Three companies in the renewable energy, agricultural products, and water supply chain sectors have qualified for the final round.
Talaat: We support all initiatives to use digital innovation to tackle climate change challenges.
UNDP Resident Representative: We are building on the success of the first edition of the initiative and providing support to companies through the Development Impact Accelerator Lab.
Microsoft Director: We are committed to supporting and training emerging companies in the field of climate action.
World Bank Representative: The competition is based on a deep understanding of the risks of climate change and the role that companies can play in mitigating them.
The Ministry of International Cooperation has released the specifics for the second edition of the Global ClimaTech Run2023 competition, which was created in conjunction with Egypt’s hosting of COP27 in 2022. The competition aims to encourage startup companies from around the world working in the field of climate action technology, in collaboration with the Ministries of Communications and Information Technology and the Environment, as well as development partners UNDP, USAID, Microsoft, and the World Bank Group. The international competition’s second edition takes place as part of the United Arab Emirates’ preparations for COP28.
This occurred during a high-level event attended by the Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat, at the Ministry’s headquarters in the New Administrative Capital, with the participation of the United Nations Development Programme Resident Representative in Egypt, Alessandro Fracasetti, Microsoft Director Mirna Arif, World Bank Group representatives, and many others.
Rania Al Mashat noted that second edition of the ClimaTech Run 2023 has added three new criteria for selecting startup companies: growth, resilience, and potential. These criteria are designed to identify startups that have the ability to make a real difference in the environment and society, develop innovative solutions to climate change, and expand the range of mitigation and adaptation ideas and solutions available.
Al-Mashat added that the competition builds on the efforts made in 2022 at COP27, where 422 startup companies from 66 countries participated, the majority of whom were in the early stages of growth by 82%, and only 48% of the competition made it to the final stages due to the intense competition. As a result, the focus this year was on the category that did not make it to the final rounds of the competition in the inaugural edition, with 405 invited startup businesses and entries from 44 countries.
H.E. noted that the competition aims to promote and encourage innovative and sustainable digital and technological solutions to accelerate climate action and address its economic and social impacts. Also highlighted the critical role that startups can play through their innovative ideas to mitigate the impacts of climate change, such as reducing emissions in the energy sectors, enhancing food security, and promoting smart and sustainable transportation. He explained that Egypt is committed to encouraging the participation of relevant stakeholders in converting climate pledges into tangible actions.
H.E. Dr. Amr Talaat, Minister of Communications and Information Technology, confirmed that the Climatech Run is an important platform for motivating entrepreneurs and startup companies to green technological innovation, as well as finding innovative digital solutions to enhance climate action and address its challenges, especially given the current need to take proactive steps in sustainable development. Also explained that climate change is a global problem that requires a global solution. He said that technology can help reduce the negative impacts of climate change by using environmentally friendly technologies and integrating information technology into environmental management. He also highlighted the Ministry of Communications and Information Technology’s commitment to participating in the second edition of the ClimaTech Run in partnership with other ministries, international organizations, and the private sector. The Ministry believes that it is important to support all efforts to use information technology and digital innovation to address climate challenges and transition to a green economy.
H.E. Talaat noted that the startup sector in Egypt is growing rapidly and attracting significant interest from venture capital firms and investment funds. The Ministry of Communications and Information Technology has developed an integrated strategy to support emerging technology companies, promote entrepreneurship, and help startups succeed. The Ministry is establishing Digital Egypt Creativity Centers across the country to provide an integrated environment for incubating innovative ideas and supporting entrepreneurs.
During the events, it was announced that three startup businesses had advanced to the final round of the competition to attend COP28. They are Powerstove from Nigeria, which specialises in renewable energy solutions for developing countries, FreshSource from Egypt, which specialises in supply chain solutions for agricultural products in the Middle East and North Africa as well as promoting sustainable food systems, and Kumulus from Tunisia, which specialises in solar energy solutions for providing clean drinking water.
The UNDP Resident Representative, Alessandro Fracasetti, is excited to support young entrepreneurs and innovators in their fight against climate change. He believes that the competition’s first edition was a success, and he is confident that the Development Impact Acceleration Lab will be able to provide even more support and assistance to startups in this second edition.
Mirna Arif, who is also the Director of Microsoft Egypt, commented, “We are happy to be part of this important initiative for the second year in a row to support social entrepreneurship, and Microsoft is always keen to contribute and encourage emerging companies, whether through training and technical support, and this is an integral part of its interests.”
“We thank the Ministry of International Cooperation for its leadership in these efforts, and the competition is certainly very important as it is based on an accurate understanding of the importance of environmental work and confronting climate change and the challenges it imposes on us,” said World Bank Representative Federica Ranghieri in her speech. This highlights the importance of assisting innovators and young entrepreneurs in catalysing creative mitigation and adaptation options.”
The Climatech Run competition is an example of how the government, development partners, the private sector, and large technology corporations can work together to expand the frontiers of climate action for developing companies. The competition’s first edition was held in collaboration with the United States Agency for International Development (USAID), the World Food Programme, and the United Nations Development Programme, as well as the African Export-Import Bank, Google, the United Nations Population Fund, the United Nations Industrial Development Organization, Microsoft, and the business accelerators Falak Startups, the Entrepreneurs Network, AfriLabs, and many other partners.
The competition is in response to a global call to address climate change and innovate sustainable solutions aimed at preserving the environment and prioritising environmentally friendly technologies that support solutions for adaptation and mitigation of climate change repercussions.
The first edition of the competition received submissions from over 420 companies in more than 60 countries. Additionally, more than 160 artists from 55 countries presented their digital art, and awards were given to emerging companies operating in Africa.
