Saudi Arabia awards leading startups in global blue economy challenge

Saudi Arabia’s Ministry of Economy and Planning has announced the 15 winners of the UpLink Regenerative Blue Economy Challenge, revealed during the UN Summit of the Future in New York over the weekend. The winners were recognized for their innovative solutions aimed at protecting and restoring the oceans, as well as addressing sustainability challenges.

Out of 203 submissions from startups worldwide, these winners were chosen for their innovative contributions to combating marine pollution, promoting ecosystem restoration and accelerating ocean-based climate solutions. The winning cohort will receive exclusive networking opportunities, targeted support, increased visibility and a share of 300,000 Swiss francs (approximately $353,000) in prize money to develop their projects further.

The selected startups will join a support program designed to scale their work, backed by ecosystem partners providing business advisory services, market access, global event opportunities, and financial grants and investments. The top five finalists will be able to present their projects to a high-level panel of Saudi officials and representatives from international organizations.

In addition, the three highest-scoring projects will receive extra funding and entry into the UpLink Accelerator Program, which offers targeted support to further their development.

The Regenerative Blue Economy Challenge, funded by the Saudi ministry and spearheaded by WAVE and Friends of Ocean Action, emphasizes Saudi Arabia's commitment to enhancing opportunities for both private and public sectors by enabling early-stage startups to grow and scale effectively.

The winners include, CHITELIX (Tunisia), SolarDuck (Netherlands), Kind Designs (US), Rongbient Biotech Company Ltd. (Vietnam), GREENOV (France), Rrreefs (Switzerland), Mwani Zanzibar (Tanzania), Blue Ocean Gear (US), SEA CRAS d.o.o. (Croatia), Polychaeta (Tunisia), Reefgen (US), Advanced Third Age Renewable Energy Co. (Morocco), Swiss Ocean Tech Ltd. (Switzerland), NextProtein (France) and PolyGone Systems (US)

Vice Minister of Economy and Planning Ammar Nagadi initiated the call for proposals on April 29 during the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh. This initiative further solidifies Saudi Arabia's role in fostering innovation and sustainability in the blue economy.