Government

Dubai Holding, a diversified global investment company with investments in 31 countries, has announced the winners of its ‘Innovate for Tomorrow Global Sustainability Challenge’. The competition, aimed at addressing critical sustainability issues in the UAE, received 150 submissions from 31 countries.

Winner and Runner-Up Announced

Frank Cato Lahti from Othalo, Norway, won first place for his innovative solution ‘Upcycling Plastic into Homes’. As part of his prize, Lahti will implement his solution via a pilot program with Dubai Holding. Runner-up honors went to Rana Hajirasouli from The Surpluss, UAE, for her solution ‘Transforming Excess into Equal Access’.

Challenge Details

The challenge was designed to promote responsible consumption and production practices, aligning with UN Sustainable Development Goal 12 and Dubai Holding’s Sustainability Strategy. It focused on finding future-focused solutions to economic circularity, efficient resource use, supply chain sustainability, waste minimization, and consumer education, supporting the UAE’s goal to achieve net-zero emissions by 2050.

Final Event and Judging Criteria

The Pitch and Award Ceremony, held at the Museum of the Future, saw five finalists present their scalable solutions to a panel of experts. Judging criteria included business viability, scalability, innovation, and impact potential. The other finalists were Manhat (UAE), Mi Terro (USA), and Midori (UAE).

Support and Opportunities

The winner and runner-up received a year’s access to TECOM Group’s in5 business incubator, the challenge’s execution partner. All five finalists will benefit from Dubai Holding’s support network and have opportunities to pitch to potential investors.

Impact and Vision

Huda Buhumaid, Chief Impact Officer of Dubai Holding, praised the innovative spirit and commitment to sustainability demonstrated by all participants. She emphasized Dubai Holding’s dedication to fostering innovation and job creation by supporting SMEs and scale-up companies. Majed Al Suwaidi, Senior Vice President of Dubai Media City at TECOM Group PJSC, highlighted the importance of incubators like in5 in nurturing innovative ideas to contribute to the local economy and global sustainability efforts.

Statements from the Winners

Frank Cato Lahti expressed his gratitude for the opportunity to partner with Dubai Holding, emphasizing the potential impact of their collaboration in the MENA region and globally. He praised Dubai Holding’s execution capabilities and the region’s forward-thinking approach.

Dubai Holding continues to play a pivotal role in the sustainable growth of Dubai and the UAE through strategic collaborations and initiatives aimed at driving positive change.

Keywords: Dubai Holding, Innovate for Tomorrow, Global Sustainability Challenge, UN SDG 12, Circular Economy, Sustainability, Upcycling Plastic, Economic Circularity, Resource Efficiency, TECOM Group, in5 Incubator, UAE Net-Zero 2050

• Tags
• #Business
• #Magazine
• #Lifestyle