Egyptian startup Vertechx wins 2nd place in Climate Launchpad 2024 competition

Ahram Online , Wednesday 30 Oct 2024

The Egyptian startup Vertechx, supported by the Remote Sensing and Space Sciences Business Incubator and funded by the national programme for technology incubators "Intelaq" at the Academy of Scientific Research and Technology, won second place and a cash prize in the Climate Launchpad 2024 competition.

Vertechx

The Climate Launchpad 2024 competition is one of the biggest contests in the climate action area globally.

Vertechx is one of the companies that came out from the second incubation cycle of the incubator.

The company benefited from specialized guidance and logistical support during the pre-incubation phase. This significantly enhanced its competitiveness in the Climate Launchpad competition on a global scale, according to the Director of the Remote Sensing Incubator Dr. Ghada Khadry.

Minister of Higher Education and Scientific Research Ayman Ashour emphasized the importance of providing comprehensive support for entrepreneurship, start-ups, and scientific research outcomes to foster economic and social growth and achieve Egypt's Vision 2030.

This global competition is dedicated to green innovations and aimed at promoting ideas that tackle climate change through sustainable solutions.

Founded in 2014, it has seen the participation of over 50 countries and is recognized as a premier platform for environmental concepts.

The competition is affiliated with the European Climate Innovation Initiative and seeks to develop solutions that address pressing issues such as climate change and pollution, Chairman of the National Authority for Remote Sensing and Space Sciences Islam Abu Al-Magd highlighted.

In related news, the Green Climate Fund (GCF) has approved funding for three significant greening initiatives, with a total investment of $2.687 billion.

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