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Global Entrepreneurs awards Crescent Enterprises’ Climate innovation prize of Dh735,000

Over 45 startups from within MIT Solve’s climate portfolio applied to Crescent Enterprises Climate Innovation Prize

Crescent Enterprises, a leading multinational company with diversified global businesses, announced the winners of its ‘Crescent Enterprises Climate Innovation Prize’ in partnership with MIT Solve, an initiative of the Massachusetts Institute of Technology (MIT) with a mission to drive innovation to solve world challenges. The winners were announced at COP28 Business & Philanthropy Climate Forum, where the entrepreneurs showcased their solutions and received Dh735,000 of non-dilutive funding from Crescent Enterprises.

Over 45 startups from within MIT Solve’s climate portfolio applied to Crescent Enterprises Climate Innovation Prize, and following a collaborative review and qualification process, four global entrepreneurs were selected as winners of the ‘Crescent Enterprises Climate Innovation Prize’ for their innovative solutions, with 50 per cent of the winners being women.

Commenting on the prize, Tushar Singhvi, deputy CEO and head of investments, Crescent Enterprises, said: "We are proud to partner with MIT Solve on the Crescent Enterprises Climate Innovation Prize, which recognises the impactful solutions developed by inspiring entrepreneurs from around the world. As an organisation, we have long been committed to sustainable development, women empowerment, and supporting global technological innovation – Crescent Enterprises Climate Innovation Prize is an embodiment of these principles."

Hala Hanna, executive director, MIT Solve added: "We are thrilled to be working with Crescent Enterprises for the prestigious Crescent Enterprises Climate Innovation Prize. This collaboration underscores both of our shared commitment to fostering global entrepreneurship and driving impactful solutions towards a sustainable future. By honouring visionary entrepreneurs from the US, Nepal, Nigeria, and Thailand, the Prize amplifies their innovative contributions in tackling climate challenges, inspiring change, and paving the way for a more resilient, equitable and sustainable world."

The four recipients of the ‘Crescent Enterprises Climate Innovation Prize’ were:

Rumee Singh, co-founder of Rumsan, added: "We are deeply honoured to receive the Climate Innovation Prize for the work we are driving with Rahat. This recognition not only fuels our commitment to creating impactful change but also highlights the promising impact of blockchain technology on climate-focused interventions. We are grateful to Crescent Enterprises for this acknowledgment, and we remain committed to advancing sustainable and innovative solutions in Nepal and beyond."

Alexia Akbay, CEO and founder, Symbrosia, said: "This prize is a game changer for climate startups — the combination of catalytic non-dilutive capital and a platform at COP to engage with stakeholders has met us precisely where we need resources the most. Our team is grateful for the opportunities that have already emerged as part of this prize."

COP28 Business & Philanthropy Climate Forum, in collaboration with global partners, including strategic partners, Crescent Enterprises and the Sustainable Markets Initiative, and delivery partners, Africa Finance Corporation, Asian Development Bank, BEEAH Group, Bill & Melinda Gates Foundation, IDB Invest, International Finance Corporation, the Organisation for Economic and Co-operation and Development, World Economic Forum, World Business Council for Sustainable Development, and XPRIZE, convened over 1,300 business and philanthropy leaders, alongside policymakers, to foster co-creation and collaboration and accelerate cross-sectoral progress around net zero and nature positive goals.