TACT HUB and Falak Investment Hub Forge Alliance for Sustainable Innovation

TACT HUB OÜ, an innovative arm of TACT INVEST OÜ, has announced a strategic alliance with Falak Investment Hub to promote sustainable technologies in alignment with Saudi Arabia's Vision 2030 and global environmental objectives.

Commitment to Sustainability and Innovation

TACT HUB focuses on transformative investments in clean and climate technologies, integrating Environmental, Social, and Governance (ESG) principles with Sharia finance compliance. This approach ensures ethical and religious adherence while supporting Saudi Arabia’s strategic environmental priorities, which include:

• Water Technologies: Tackling water scarcity and enhancing water management.
• Sustainable Agriculture: Boosting agricultural productivity and resilience.
• Renewable Energy: Advancing sustainable energy solutions.
• Green Building: Developing eco-friendly urban infrastructure.
• Circular Economy: Reducing waste through innovative recycling.

Strategic Partnership Details

The collaboration with Falak Investment Hub aims to leverage Falak's extensive MENA region ecosystem to support and scale early-stage companies globally. Key elements of the partnership include:

• Market Access: Providing TACT HUB startups with Falak’s network and resources for effective scaling in MENA and beyond.
• Investment Events: Co-hosting investment pitch events to connect startups with a wide range of investors.
• Program Inclusion: Integrating TACT HUB startups into Falak’s ClimateTech Program, in collaboration with ROOTS Ventures, offering training, mentorship, and market access.
• Metric Commitments: Aiming to support startups aligned with Saudi Vision 2030, targeting a collective CO2 reduction of 1 million tonnes.

Market Potential

The global climate tech market is expected to reach $1.4 trillion by 2028, with an 8.8% annual growth rate. Saudi Arabia’s strategic initiatives and environmental investments present significant opportunities for scaling climate innovations. Falak’s ClimateTech Program is designed to accelerate the development of climate entrepreneurs and foster a strong regional climate innovation community.

Source: EntArabi