Saudi Arabia’s Plastus, which produces 100% biodegradable bioplastics through the fermentation of bacteria, scooped the $250,000 main prize at this year’s LEAP Rocket Fuel Startup Pitch Challenge, powered by Saudi Arabia’s National Technology Development Program (NTDP), after wowing a star-studded judging panel in Riyadh.
Concluding on the final day of LEAP23, the world’s most visionary technology event, the second annual LEAP Rocket Fuel Startup Pitch Challenge was a collaboration between the Kingdom’s Ministry of Communications and Information Technology (MCIT), the MiSK Foundation, and NTDP.
The Challenge saw 90 global startups whittled down to 12 finalists selected to pitch before a five-strong judging panel, comprising Dragons’ Den stars James Caan and Steven Bartlett, Saudi angel investor Tala Al Jabri, Baroness Karren Brady CBE – aide to The Apprentice’s Alan Sugar – and Shark Tank India’s Ghazal Alagh.
Biodegradable bioplastics manufacturer takes home $250,000 main prize after the wowing panel of Dragons’ Den, Shark Tank India, and angel investor judges
Praising the assembled finalists for their innovative potential, Bartlett said: “I’m exceptionally inspired by both the diversity of the founders and the diversity of their teams. It’s really inspiring to see that, and I think their focus on diversity gives them a great chance to be successful.”
The Dragons’ Den star’s sentiments were echoed by Al Jabri, who added: “It’s been a real honor listening to all the pitches. It’s clear everyone put a lot of effort, heart, and soul into this process. It’s been a genuine thrill to watch, observe, and ask questions.”
Rwanda’s Bag Innovation secured the early-stage startup prize of $150,000
In addition to Plastus sealing the main prize, Rwanda’s Bag Innovation secured the early-stage startup prize of $150,000. Other prizes included the Aviatrix Award for most innovative startup pioneered by women, which went to Saudi Arabia’s Takadao; the Technology for Humanity Award won by Nigeria’s RiceAfrika; Wicrypt, also from Nigeria, taking home the most impressive startup in the Metaverse and Web 3.0 domains; and, finally, the UAE’s Verofax, which was recognized for the most ground-breaking use of Artificial Intelligence.
“This is so huge. It will make it possible to finish the entire retrofitting stage and make so much happen for us. I’m speechless,” said Plastus CEO Nouf Alhazmi, whose company produces bioplastics that fully break down in the environment in two months but have a shelf-life of two years.
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