Dubai: Start-Up Wins Sustainability Challenge For 'Upcycling Plastic Into Homes'

(MENAFN- Khaleej Times) Published: Wed 12 Jun 2024, 6:51 PM

The“Upcycling Plastic into Homes” solution by Frank Cato Lahti from Othalo, Norway, won the global sustainability challenge“Innovate for Tomorrow” organised by Dubai Holding.

He was awarded an exclusive, funded implementation of the solution through a pilot programme with Dubai Holding, guided by the group's top experts.

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“This challenge represents the most incredible opportunity to partner with Dubai Holding, allowing us a springboard into the Mena region and the world. Dubai Holding has a power of execution that few others have, and this region has consistently pushed the boundaries and made the impossible possible. Thank you again to Dubai Holding and its execution partner Tecom Group's in5 business incubator,” said Lahti.

Rana Hajirasouli from The Surpluss, UAE, was recognised as the runner-up for her“Transforming Excess into Equal Access” solution. The three other finalists were Manhat, UAE; Mi Terro, USA; and Midori, UAE.

The winner and runner-up were granted one-year access to Tecom Group's in5 business incubator, the challenge's execution partner. Additionally, the five finalists will all benefit from Dubai Holding's extensive support network and attend a pitch day event featuring a group of potential investors.

The“Innovate for Tomorrow” Challenge attracted entrants from across 31 countries, 68 per cent of which were UAE-based companies.

Nearly 30 per cent of the companies that applied had a female founder and 81 per cent of the scale-ups that entered were operational. Focus areas of the entrants included –over a third of the total participants – looking at waste reduction, recycling and reusing, 24 per cent focused on solving supply chain sustainability issues and 22 per cent looking at resource efficiency. A further 15 per cent of the entrants focused on supporting consumer education and raising awareness of key issues linked to sustainability.

Huda Buhumaid, Chief Impact Officer, Dubai Holding, said:“The high quality and diversity of ideas we received from these scale-up company innovators underscore the urgent need to implement innovative solutions to drive impact and lead the shift towards a circular economy.”

Majed Al Suwaidi, senior vice president of Dubai Media City at Tecom Group, on behalf of in5, said enabling entrepreneurship is crucial to catalyse change and drive sustainable, future-focused economic progress.


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Khaleej Times

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