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PepsiCo Foundation to offer seed fund for winners of Arab Youth Hackathon
The PepsiCo Foundation will offer equity-free seed fund for three winners of the Arab Youth Hackathon – worth $30,000, $20,000, and $10,000, respectively – to start their businesses.
PepsiCo and the Arab Youth Center (AYC) have opened applications for young Arab innovators to apply for the Hackathon, a regional entrepreneurship program aimed at creating smarter solutions to climate-related issues in the areas of agriculture, circular economy, water security, and renewable energy and efficiency.
The winners will also attend a five-month incubation program that will help them develop and scale their groundbreaking ideas and ensure long-term success.
According to recent research , 65% of Gen Z members in MENA are concerned about the world, but a higher proportion – 66% are hopeful about the change they can deliver. 50% are also actively striving to make a change through social, political, or environmental means.
The hackathon will run in the UAE, Saudi Arabia, Egypt, Jordan, and Lebanon, and is seeking applicants including university students and early-stage entrepreneurs who either are looking to ideate or have a preliminary existing idea at the testing phase, which will evolve during the hackathons.
Candidates must apply in teams of 2 to 3 participants and are to be within 18 to 35 years of age. Each team must have at least one member who is older than 21 years.
Once the shortlist of teams has been selected, PepsiCo, PepsiCo Foundation, Plug and Play and AYC will host a three-day local hackathon, providing mentorship and curated workshops to transfer knowledge to the participants. In Egypt, the hackathon will be held from the 22nd to the 24th of September in Cairo.
The proposed solutions will be assessed and selected based on their innovation and must be financially feasible and scalable. A panel of experts will evaluate the entries based on their sustainability alignment, ability to reduce emissions, and the magnitude of impact on areas under the four pillars of the competition (Water, Agriculture, Climate, Circular economy) such as climate change, energy, circular economy, deforestation, green transformation, soil fertility, waste management, water scarcity, and marine environment wellbeing and others.
Eugene Willemsen, CEO of Africa, Middle East and South Asia at PepsiCo, said “Young people are comfortable in a world of dialogue and collaboration, and uniquely motivated to contribute to solutions to climate-related issues. They also have the power to influence behavior in their communities and urge policymakers to tackle environmental challenges. This year, through tangible investment and collaborative action, PepsiCo is advancing COP28’s goal to promote youth engagement in climate action. We are committed to diversity in thought, perspective, and action to move the needle in ways we haven’t imagined before, and the Arab Youth Hackathon harnesses the power of collaboration to channel this potential in tangible and measurable ways.”
Mohamed Shelbaya, CEO of PepsiCo North Africa, said “Years ago, we debuted the Egypt 2030 Hackathon stemming from our belief in the potential of younger generations to create transformative impact through innovation. Today, we are brimming with pride as the initiative expands to foster more innovative minds from the wider region as part of the Arab Youth Hackathon. We are committed to creating a world where the youth’s journey intertwines with our own, resulting in a brighter and more sustainable tomorrow.”
Sadeq Jarrar, Executive Director – Arab Youth Center said, “We are thrilled to begin accepting applications for the Arab Youth Hackathon in anticipation of COP28. We heavily prioritize and promote climate action at the Arab Youth Center, and always strive to formulate impactful initiatives to engage Arab youth in thinking about the future of our world. As a means to highlight Arab youth sustainable ingenuity across the MENA region, we look forward to seeing the results of the Hackathon and the solutions our applicants propose.”
“At the Arab Youth Center, we wholeheartedly believe in the power that youth hold when they mobilize and voice their opinions to collaborate. Through this initiative, we hope to foster a culture of leadership among Arab youth for the betterment of future generations,” Jarrar continued.
Private sector initiatives, especially those involving youth, play a key role in supporting COP28’s outlined sustainability goals. The Hackathon will be supported by the Ministry of Communication and Information Technology (MCIT) and the Information Technology Industry Development Agency (ITIDA) along with PepsiCo and the Arab Youth Center. Plug and Play, known for accelerating innovation across a wide network of accelerators, industry-leading corporations, and venture capitalists globally, will also lend its expertise to help bring the program to life in MENA.
Karima El Hakim, Plug and Play Egypt Country Director, said “As one of the most active global investors in sustainability, we hope to continue to support young Arab and Egyptian innovators to play an active role in bringing sustainable solutions to climate challenges. I look forward to working with our partners and stakeholders in Egypt and the region to source innovative solutions be it at an ideation or MVP stage.”
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