Nadeera lands US$100,000 in PepsiCo MENA startup accelerator grant
10 Oct 2022 --- Nadeera, a United Arab Emirates-based startup, has won PepsiCo’s first Greenhouse Accelerator Program: Middle East North Africa (MENA) Sustainability Edition, receiving a US$100,000 grant. The winner was announced at the culmination of PepsiCo’s six-month mentorship program.
Nadeera is recognized for its “Yalla Return” system. The system is the first “trash-for-cash” system in the MENA region, giving customers cash rewards based on the number of recyclables turned in.
Nadeera received the grant due to its consistent revenue growth since participating in the program and a “strong pipeline” to scalability in its concept within the next six months.
The Greenhouse Accelerator Program is another extension of PepsiCo's Positive (pep+) goals to help create more environmentally sustainable ingredient sourcing and build a circular value chain. Under this initiative, the F&B company has been working toward making its products more eco-friendly and backing smaller businesses doing the same.
Aamer Sheikh, CEO of PepsiCo Middle East called the program a “milestone” for circularity. “The region has set an example in placing sustainability at the top of the agenda… sparking critical discussions with players at different levels to affect systemic change.”
UAE-based startup received US$100,000 grant from PepsiCo based on its recycling solution. Streamlined, automated waste sorting
Nadeera’s product is an app that tells its users where its company-owned recycling bins are, which makes it easier for users to discard packaging and promotes waste sorting of multiple types of packaging.
Once the user properly disposes of their packaging they are rewarded with money for their contribution. Nadeera also won “a host of other benefits” to scale its solution and grow its business.
“The financial support as well as the mentorship from the last several months will help us grow our business in ways we couldn’t have envisioned before the program,” says Rabih El Chaar, CEO & Co-founder of Nadeera.
“As a startup in the sustainability sector, we are trying to overcome many hurdles. From changing consumer mindsets to overcoming challenges related to capital, resources, and networks.
Seeking out budding solutions
The Greenhouse Accelerator Program launched in November of 2021, in partnership with the UAE Ministry of Climate Change and Environment and Food Tech Valley. Their goal was “to identify regional startups with innovative solutions focused on sustainable packaging and recycling.”
Nadeera will be included in the Arab Youth Startup Marketplace cohort and access to Arab Youth Council partners.
“This is a great example of how open innovation and collaboration can create value for multiple stakeholders. We’re excited to see the positive change Nadeera will bring to sustainability in the region and look forward to creating opportunities for more promising startups through our upcoming Greenhouse Accelerator program editions,” says Sheikh.
All startups that participated in the program received a grant of US$20,000 and one-on-one mentorship from PepsiCo and Food Tech Valley executives over a six-month timeline.
PepsiCo concludes their six-month Greenhouse Accelerator program, picking a winner to drive forward its own environmental goals.
Environmental ups and downs
Nadeera claims to have diverted 20 trillion metric tons of trash from landfills and avoided three trillion metric tons of greenhouse gasses from being emitted into the atmosphere.
According to Greenpeace, PepsiCo uses 2.3 million metric tons of plastic every year but has set targets to make 100% of its packaging recyclable, compostable or degradable by 2025.
According to Innova Market Insights, F&B launches with compostable claims have grown 49% on average since 2018. Meanwhile, 28% of global consumers perceive biodegradable or compostable packaging as the most environmentally sustainable packaging option, followed by reusable (22%) and recyclable (21%) packaging.
Edited by Sabine Waldeck
