Start-ups take over $3m in prizes at JN innovation pitch competition
Three start-up companies, Preelabs Limited, Artel, and Integrated Recyclers Limited have emerged as the winners of a recently staged Jamaica National (JN) climate innovation pitch competition, taking home over $3 million in prizes.
The competition, organised under the Water Project of Jamaica and administered by the JN Foundation, aimed to increase climate-resilient housing in the country and bring greater awareness to the businesses involved in these projects.
Preelabs Limited, a technology innovation and product development company, walked away with the first prize of $2 million. Through its innovative technology, which allows homeowners and businesses to better understand their water consumption from anywhere in the world, detect leaks, and shut off water when not in use, the start-up was able to emerge atop eight contenders.
Artel took second place and won $800,000 in prizes for its creative use of artificial intelligence (AI) to find solutions to problems. The company developed a green information and communications technology flood planning and impact tool which can assist in determining the number of potential causalities; damage to buildings, roads and infrastructure; as well as the shortfall which exists, in terms of resources, in cases of disaster strikes.
Third place winner Integrated Recyclers Limited pitched the recycling of Sargassum seaweed into animal feed and was awarded $575,000 in prizes.
Onyka Barrett Scott, general manager of the JN Foundation, said that she was heartened by the quality of innovative ideas which were presented by the contenders in the competition.
“This demonstrates how creative we are. The participants not only identified the problems resulting from climate change but they have come up with real solutions to address the problems,” she said.
She also commended all eight participants, encouraging them to press on and continue to innovate and emerge with solutions to assist the country and the Caribbean to adapt to climate change.
Cornelia Walters-Jones, project manager of the Water Project Jamaica, said the competition received over 40 applications from which the eight companies were shortlisted.
All three winners will be hosted for six months to a year in an incubator or accelerator programmes at the Caribbean Climate Innovation Centre in St Andrew.