Sadeem International, a startup focused on early warning solutions for flash floods in urban environments from Saudi Arabia, won first place in the World Bank Group's Innovate4Climate Pitch Hub 2020 competition.
WASHINGTON, June 18, 2020 - Today during a live virtual contest Innovate4Climate, the World Bank Group's flagship event on climate change, announced Sadeem International as the winner of its second Pitch Hub Competition. Sadeem - focusing on early warning solutions for flash floods in urban environments - beat out over 400 applications from around the world.
This year's challenge focused on climate-smart cities, with innovations required to be at Minimal Viable Product stage, to help cities become low-carbon and/or climate-resilient across a range of sectors: energy, food/agriculture, mobility/transportation, waste/water, fintech. Solutions had to demonstrate potential for climate change mitigation or adaptation, and that they were feasible, with a clear value proposition, implementable and scalable.
The winning startup and four other finalists were chosen after evaluation by 40 expert reviewers and multiple rounds to assess its viability.
"Participating in this competition was a really enriching experience; the level of exposure and networking potential is unique. It is also really refreshing to see that every day there are more and more startups aligning business with climate innovations. We are so happy as a team for getting this prize!", said Esteban Sanchez Canepa, Co-Founder and CTO at Sadeem Technology. "We have a commitment to keep addressing the urban and climate challenges of our generation".
The winning startup will receive Amazon Web Services credits worth $30,000, with the runner up and third finalist receiving $20,000 and $10,000 respectively. The top three winners will receive invitations to major industry events and training opportunities. All 5 finalists will be part of Innovate4Climate's Startup Incubation Bootcamp Program, designed and facilitated by partner, The Venture City, and will be invited by Innovate4Climate to meet with potential investors and venture capital firms and will have access to Innovate4Climate's 2021 event. Sadeem also won the audience choice category.
"It is really inspiring to see climate-smart innovations and new approaches to addressing climate change for urban communities", said Bernice van Bronkhorst, Global Director, Climate Change, World Bank. "The kinds of inventive solutions we've seen today from this group of entrepreneurs are a great opportunity not only for communities tackling climate change but also for creative entrepreneurs delivering solutions that can work, and the World Bank's Innovate4Climate team is pleased to support their efforts."
This year's competition was held virtually with finalists submitting recorded pitches that were reviewed by the judging panel, followed by a virtual Q&A between judges and competitors. The judging panel comprised Riyong Kim (EIT Climate-KIC), Dr. Tara Shirvani (EBRD), Assaf Wahrhaft (UpWest), Martin Wainstein (Yale OpenLab), Vikram Widge (Climate Policy Initiative).
"All the finalists this year offered innovative solutions to address climate change, with several harnessing state-of-the-art technologies. It was a difficult decision, but it seems appropriate that the winner was the one that can help cities become more pro-actively resilient", said Vikram Widge, Senior Advisor, Climate Finance, Climate Policy Initiative, part of the judging panel.
