NARSS Incubator-Backed Vertechx Wins 2Nd Place In Climate Launchpad Competition

(MENAFN- Daily News Egypt) Vertechx, an incubator at the National Authority for Remote Sensing and Space Sciences (NARSS) and funded by the National Program for Technology Incubators (INTELAQ) at the Academy of Scientific Research and Technology, won second place and a cash prize in the Climate Launchpad 2024 competition for Asia and Africa.

This international competition is the largest in the world that focuses on green innovations; with the aim of supporting ideas that contribute to confronting climate change through innovative and sustainable solutions since its launch in 2014. The competition has witnessed the participation of more than 50 countries, making it the largest global platform for pioneering environmental ideas.

Islam Abu Al-Magd, Chairperson of the National Authority for Remote Sensing and Space Sciences, pointed out that the Climate Launchpad competition is part of the European Climate Innovation Initiative, and aims to discover and accelerate the development of environmental ideas that may contribute to solving pressing environmental problems, such as climate change and pollution.

Abu Al-Majd explained that the support of the Remote Sensing and Space Sciences Business Incubator contributed to the success of Vertechx, as the incubator provided the tools and resources necessary to develop the company's initial product in the fields of remote sensing and environmental data analysis, noting that the support helped the company provide innovative solutions in climate and environmental monitoring technologies, which made it competitive on a global level.

For her part, Ghada Khadry, Director of the Remote Sensing Incubator, explained that Vertechx is one of the companies incubated in the second incubation cycle of the incubator and that during the pre-incubation period, the company received specialized guidance and logistical support, which contributed to enhancing its ability to compete globally in the Climate Launchpad competition.

The company received an intensive program that included guidance and mentoring from a group of experts, as well as developing and manufacturing the product in the pre-incubation phase, in addition to developing the company's business model, which helped it obtain the incubation grant provided by the Academy of Scientific Research and Technology as one of the companies incubated in the incubator and winning second place in Africa and Asia in the Climate Innovation Competition.

Moreover, Ayman Ashour, Minister of Higher Education and Scientific Research, also stressed the importance of providing all forms of support for entrepreneurship, emerging companies and scientific research outputs, to effectively contribute to achieving economic and social growth and achieving Egypt's Vision 2030, and encouraging entrepreneurship and youth to establish emerging companies, which contributes to supporting efforts to advance the national economy.

The competition witnessed the participation of thousands of emerging companies in more than 50 countries around the world, and awards were presented to the best ideas that have the potential to be applied on the ground to improve environmental sustainability.

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