Midori received funding of $200,000 to transform the plastic recycling industry during the COP28 climate conference in Dubai
In the heart of Dubai, during the COP28 conference, the world witnessed a significant achievement in climate technology. Midori Network, part of the leading business incubator system of TECOM Group PJSC (in5), received funding of $200,000 from Kirill Veselov, an angel investor and former investment manager at Mint Capital. This funding represents a major step towards enhancing sustainability and innovation in waste management and the circular economy.
The Role of the Circular Economy in the Future of Sustainable Development
The circular economy is a cornerstone in the future of sustainable development. This concept involves achieving sustainability by reducing waste and maximizing resource utilization. In this context, the role of the Midori Network is a living example of applying the principles of the circular economy in practice, aiming to transform the plastic recycling industry and achieve a business model characterized by efficiency and sustainability.
The Impact of Midori Network’s Funding on Climate Technology
The funding of the Midori Network is an important step in the development of climate technology and the promotion of the circular economy. This investment demonstrates confidence in the ability of startups to provide innovative solutions to environmental and climate challenges. The funds will be used to develop a mobile recycling unit based on containers, an ambitious project aimed at making the recycling process more efficient and convenient, especially in rural areas.
The Environmental Vision of Midori Network and Its Contribution to Sustainable Development Goals
Midori Network is not just a plastic recycling initiative, but strives to achieve a comprehensive vision of sustainable development. Its mission goes beyond waste processing; it aims to create economic, social, and environmental value, contributing to the achievement of global sustainable development goals. With this funding, Midori Network seeks to make a global impact, focusing on key markets such as Brazil, India, Pakistan, Indonesia, and China.
The Role of Dubai and in5 in Promoting Sustainable Innovation and Entrepreneurship
Dubai, as the host city of COP28, plays a leading role in promoting innovation in climate technology and sustainability. In this context, in5 demonstrates its commitment to supporting startups like the Midori Network, serving as a platform for exchanging ideas, technologies, and capital internationally. Since its inception in 2013, in5 has played a pivotal role in shaping the entrepreneurial and innovative landscape in Dubai and the UAE, supporting more than 850 startups representing over 50 nationalities.
The Ongoing Evolution of Midori Network and Its Future Goals
Since its inception as a sustainable eyewear brand, Midori Network has evolved significantly. The company plans to develop 1,000 mobile recycling units over the next seven years, converting more than a million tons of plastic waste annually into affordable, eco-friendly solutions. Midori Network’s ambitious vision is to transform plastic waste into valuable resources, contributing to long-term transformative sustainability in all aspects of life.
In conclusion, the funding of Midori Network and its support by influential figures and institutions in the world of investment and technology marks a turning point in innovation and sustainability. This achievement highlights the vital role that startups play in addressing environmental and climate challenges, reflecting growing confidence in these companies’ ability to offer innovative and effective solutions.
As Midori Network grows and develops, Dubai emerges as a leading hub in supporting sustainable innovation and entrepreneurship, especially in the field of climate technology and the circular economy. This step underscores the importance of collaboration across different sectors and the need for integrated strategies to achieve sustainable development goals.
Initiatives like the Midori Network demonstrate that the path to a more sustainable future requires collaboration and out-of-the-box thinking, as well as bold and continuous investments. With concepts like recycling and the circular economy shifting from theoretical ideas to practical applications, the prospects for achieving a greener and more sustainable world for future generations have increased.
