Women-led UAE-based startup crowned winner of SAIA2023

Solumar, a women-led UAE-based startup, has been declared winner of the 4th edition of the Sharjah Advanced Industry Accelerator (SAIA2023), organised by the Sharjah Research Technology and Innovation Park (SRTIP), for developing cost-efficient technologies to combat emissions and air pollutants.

Solumar surpassed nine other startups from across the globe in the finals at the final Demo Day held at the SRTIP.

The solution was recognised for making it possible to capture and utilise the collected black carbon and CO2, resell, or reuse other valuable materials by putting them back into production, helping industrial business owners, maritime, and O&G companies support the net zero by 2050 agenda in a cost-efficient way. The solution turns the collected carbon into reusable carbon powder, sold at US$3,000 per tonne, generating recurring revenue for those who implement the solution.

This year, the SAIA programme underscored its commitment to sustainability by identifying four focus areas: Energy Tech; Sustainable Mobility; Advanced Technologies and Digitalisation; and Clean Tech, Green Tech & Agritech.

The popular SAIA programme has seen remarkable growth in three years. It registered a phenomenal 154.55 percent increase in applications from 1,650 in 2022 to 4,200 in 2023.

Hussain Al Mahmoudi, CEO of SRTIP, commented, “The surge in applications demonstrates the burgeoning interest in our SAIA programme, reinforcing its stature as a preferred platform for global startups. We have positioned SAIA as a pivotal initiative, focused on propelling innovation, and sustainability in the global startup ecosystem. Aligned with the UAE Advanced Industry Strategy, SAIA has played a pivotal role in accelerating the nation’s transformation into a global hub for future industries.

“SAIA’s primary objectives revolve around introducing cutting-edge technology that not only fosters the growth of economies but also nurtures sustainable business practices. In this context, the winning innovation Solumar is a classic example of making innovative use of technologies to combat climate change. I congratulate the winning team, the other finalists and all the applicants and wish them the best in their innovation journey.”

Rennie Popcheva, CEO, Solumar, said, “The Solumar team is on a mission to help industrial business owners, maritime and O&G companies reach net-zero objectives by deploying the most cost-efficient technology for the direct capture, utilisation, and storage of multiple pollutants combined (particles, Black Carbon, VOC, and Gases) - reaching 92-99 percent capturing efficiency with 6-10 times lower CAPEX and OPEX, saving millions of operational costs every year. Thanks to our successful participation in Sharjah Advanced Industry Accelerator (SAIA) we are one step closer to achieving this mission.”

SAIA 2023 finalists: The ten startups selected for the finals represented a diverse range of industries and technologies, collectively embodying the innovative spirit that defines the SAIA programme. Each startup brought unique solutions and perspectives, contributing to the overall success and impact of the programme. The cohort startups collectively raised over Dhs100 million, a reflection of the level and calibre of startups attracted by SAIA.

The SRTIP’s annual SAIA programme goes beyond traditional accelerator offerings, providing comprehensive mentorship and facilitating corporate matchmaking to startups. It acts as a conduit, connecting startups with potential investors, and deploying impactful demos and pilots to showcase their innovative solutions. This year’s edition sought to actively contribute to the global sustainability agenda, aligning with COP28 and the UAE’s Green Agenda 2030.

Meanwhile, the Telecommunications and Digital Government Regulatory Authority (TDRA) has signed a Memorandum of Understanding (MoU) with the Dubai Maritime Authority of Dubai Ports, Customs and Free Zone Corporation (PCFC).

This partnership marks a significant stride in improving the regulatory framework for maritime business operations to enhance efficiency in the sector.

The MoU establishes a streamlined and cohesive procedure for acquiring the necessary authorisations for maritime vessels through the Dubai Maritime Authority. The TDRA is focused on simplifying the process of granting wireless device authorisations for recreational marine vessels exceeding 10.6 metres in length, in addition to all classes of commercial marine vessels operating within the territorial waters of the UAE.

WAM