Dubai – The Sustainova Challenge (UAE Edition), held as a side event to NORTHSTAR / GITEX 2024 at the DIFC Innovation Hub on October 15, concluded with a remarkable showcase of the most innovative and impactful sustainability-focused startups in the region. The event, organized by Risin Ventures, brought together leading entrepreneurs, investors, and sustainability experts to drive the conversation around environmental innovation and sustainable business practices.

Hosted by Hassaan Ghazali, Sustainability Expert at AHG Global Project Management Services, the event featured a highly anticipated pitch competition, which saw ten startups present their pioneering solutions aimed at tackling critical environmental challenges. The diverse lineup of startups, including Coral, FortyGuard, Manhat, Mrüna, Mywater, Nadeera, NAYAN, Olive Gaea, Sulmi, and SustainInsight, demonstrated innovative approaches to areas such as water conservation, waste management, carbon reduction, and sustainable urban development.

The expert judging panel included prominent figures from the sustainability and investment sectors:

  • Karim Haggar – Principal (Sustainability) at Roland Berger
  • Steve Khayat – Founder, Managing Director & CEO at Phoenix Venture Partners
  • Matteo Boffa – Serial Entrepreneur and Angel Investor
  • Lola Fernandez Flores – Principal at Venture Souq
  • Awdesh Chetal – CEO of Risin Ventures

After a rigorous evaluation of the startups' innovation, scalability, environmental impact, and business viability, three winners emerged:

  1. FortyGuard is the world’s largest host of urban temperature data and the first to develop the tCMap™ urban heat mapping system and Large Temperature Models (LTMs).
  2. Olive Gaea is a leading Sustainability-as-a-Service (SaaS) platform in MENA and India, helping organizations accelerate decarbonization and reduce their carbon footprint for a sustainable future.
  3. Mrüna delivers innovative solutions for resilient, sustainable built environments, integrating expertise across four divisions to help communities tackle the challenges of a changing world.

These startups were celebrated for their significant potential to drive environmental change while also creating viable and scalable business models.

Farrukh Shad, Head of Sustainability at Schneider Electric, delivered an inspiring keynote address, drawing parallels between Schneider Electric's sustainability journey and the path startups must take to create lasting impact. Shad emphasized how Schneider Electric’s commitment to innovation and sustainable practices has established the company as a global leader in energy management and automation. He highlighted the critical role startups play in shaping the future of sustainability and offered valuable tips on navigating challenges, scaling impact, and aligning business goals with sustainability objectives. His insights resonated deeply with both startups and investors, reinforcing the importance of perseverance, innovation, and collaboration in building a greener future.

The event also featured a panel discussion on the topic “Positioning Products and Services for the Sustainability Sector,” moderated by Sal Jafar, CEO of ESG MENA. The panelists, including Jay Sadiq (Founder & CEO of FortyGuard), Maria Flouda (Founder & Managing Consultant of Sustainability Switch Consultancy), and Dr. Jacinta Dsilva (Sustainability Research Director of SEE Institute), discussed strategies for aligning business offerings with sustainability goals, and how startups can navigate the challenges of scaling in this space.

One of the key highlights of the event was the launch of the Arisio platform, a tech platform powered by Risin Ventures that aims to revolutionize the way startups and investors connect. Arisio provides a seamless platform for collaboration, funding access, and networking, creating a dynamic ecosystem where innovation can thrive and opportunities can be easily discovered. Awdesh Chetal, CEO of Risin Ventures, stated, “Arisio is a groundbreaking platform designed to transform the startup and investment landscape. Arisio is more than just a tool; it is a powerful catalyst for change, bridging gaps in collaboration, funding access, and networking.” The platform can be accessed on arisio.io

The Sustainova Challenge (UAE Edition) proved to be a resounding success, reaffirming the UAE’s position as a hub for sustainability and innovation. As the world grapples with environmental crises, events like these are vital for encouraging the solutions that will shape a greener future.

For more information, visit: www.sustainovachallenge.com

About Sustainova

Sustainova is a global initiative dedicated to accelerating the development and implementation of sustainable technologies and solutions. Through its flagship events like the Sustainova Challenge, the initiative connects entrepreneurs, investors, and thought leaders in the quest for innovative solutions to address pressing environmental challenges.

About Risin Ventures

Risin Ventures is a venture studio and innovation accelerator focused on driving impactful technological solutions. With a portfolio spanning multiple sectors, Risin Ventures is committed to supporting the next generation of startups through strategic investments, mentorship, and the development of robust ecosystems like Arisio.