Semi-finalist Start-ups of the Net-Zero Challenge Announced
12 semi-finalist start-ups chosen by the RFI Foundation, in partnership with HSBC Middle East, will now engage in improving their ability to support financial institutions in the Middle East, North Africa & Turkey (MENAT) on the net-zero journey.
The Net Zero Challenge is an open innovation challenge inviting companies from all over the world to develop or bring Climate Tech relevant to the financial sector (Climate FinTech) for the Middle East and North Africa.
The Initiative seeks to attract applications from innovative technology companies that can develop solutions to tackle climate-centric challenges faced by financial institutions in the Middle East and North Africa in establishing, tracking progress, and achieving their Net Zero targets.
The objective of the challenge is to draw on multidisciplinary expertise on climate change together with technology to enable MENA region financial institutions to make, implement and achieve a transition towards global Net Zero 2050 in line with GFANZ requirements.
All the finalists were individuated by looking at their potential to help improve financial institutions' data collection, analysis, validation, and dissemination of their financed emissions.
Now, the 12 semi-finalists will begin a Global Innovation Bootcamp where they will be supported by nine mentors, including experts from HSBC, Falak Startups, and the RFI Foundation’s Emissary Network.
The training will be followed by the announcement of the five finalists that will have to present their business plans to the Net Zero Challenge’s partners, Falak Startups, ADGM, and the Economic Development Board of Bahrain.
Blake Goud, CEO of the RFI Foundation said about the Challenge: " We were excited by the range of companies from all around the world who applied.
The quality of applications we received shows the potential for technology to play an important role for the financial sector in the MENAT region as they make progress setting, evaluating, and ultimately achieving the region’s Net Zero goals".
The semi finalist startups, who come from nine countries, are:
Blockchain Triangle
Evercity
15Rock
ESGi
Investor Cash Management
ESGTree
Nash FinTechX
BreatheIO
Egypt Carbon Bank
Greenomy
CDIOXIDE
uPledge
