Petromin For the Win

By Sahar Taleb, Chief Omnipreneurship Officer, ADG

The second round of the Omnipreneurship Awards is off to an exciting start! Al-Dabbagh Holding held our second CEO Pitch to determine which of our companies would be launching the second round of our Omnipreneurship Awards Sustainability Branch challenge.

Back in March, the CEOs of our Group companies pitched their ideas. The pitches we heard from our companies that presented were very impressive all looking for sustainable- carbon negative solutions to current problems they are facing in their sector. ADG’s team and group CEOs then voted on the winning idea, and it was a very close vote with only one point between the top three companies. However, the one that ended up standing out to our judging committee was Petromin Lubricant’s challenge. Petromin are seeking solutions to recycle used cooking oil into an environmentally sustainable, biodegradable lubricant, in line with global standards.

The competition will open for submissions from 15 August 2021, and will come to a close on 17th  of November, 2021. As with last year’s Omnipreneurship Award, this year will also see five shortlisted winners once proposals have been submitted. Out of the five shortlisted, one will be selected and receive USD$1 million, and will get to sign a deal with Petromin to further develop and implement their idea. The remaining four finalists will each receive USD$20,000.

In 2020, Al-Dabbagh chose Tanmiah to kick off our external Omnipreneurship Awards: Sustainability Branch. At the outset, Tanmiah was looking for innovative solutions to address the challenges posed by the excess amounts of poultry waste generated by their farms and how to transform this waste into value. We are now in the final stages of this competition and should be announcing our one million dollar awardee by the end of August.