MTI Investment AB and TechBridge Launch Elevate Blue Innovation Challenge to Foster Sustainable Growth in Kenya and Tanzania

The challenge will focus on finding entrepreneurs who are developing impactful solutions in areas like marine pollution, sustainable fishing, aquaculture, eco-tourism, and plastic waste recycling. By supporting these entrepreneurs, MTI Investment and TechBridge seek to drive sustainable development and address critical environmental and economic challenges in East Africa. 

"We are excited to offer this platform for entrepreneurs to refine their solutions, contributing to both environmental sustainability and economic development," said Noah Amri, Investment Director at MTI Investment Tanzania. "Our goal is to equip startups with the resources, mentorship, and technology needed to scale their innovations and address the unique challenges of the Blue Economy."

Driving Impact and Job Creation
With the backing of the NOK 25 million NORAD grant, the Elevate Blue Project is targeting the creation of 9,000 jobs (3,000 direct and 6,000 indirect) while projecting revenue growth of $9.4 million for the accelerated startups over the next five years. This initiative, offering comprehensive support ranging from ideation to investment, will empower startups to scale their solutions, enhance cross-border collaboration, and contribute to long-term economic growth in East Africa.

This project builds on TechBridge's success of supporting over 1,000 entrepreneurs in East Africa and continues to drive innovation in key areas like the blue economy and marine litter sectors. For more details, refer to our press release.

Exclusive Incubation and Acceleration Opportunities
Winning teams will gain access to TechBridge's integrated incubator and accelerator programs, which offer mentorship, resources, and tailored support to help entrepreneurs scale their businesses sustainably. This challenge forms part of MTI Investment's broader commitment to accelerating sustainable entrepreneurship and leveraging impact investing to foster growth in East Africa.

About TechBridge Invest
TechBridge Invest AS, founded by the late Øivind Rideng, is a pioneering Norwegian company based in Mombasa, recognized as Incubator of the Year in 2023. Through strategic partnerships and a deep commitment to sustainable development, TechBridge continues to drive innovation and entrepreneurship across East Africa, focusing on building the capacity of local entrepreneurs and supporting sectors like the blue economy. MTI Investment AB is the largest shareholder, holding a 56.1% stake (see press release for more information).

For more information about the Elevate Blue Project and other initiatives, please visit Elevate Blue website.