ACCELERATING THE FUTURE
Category: Events
Flat6Labs in partnership with SIAC and Dar-Al-Handasah launch “Makers”, ConTech Innovation Program to foster construction startups across Egypt
Cairo, Egypt – 23 November 2022 Flat6Labs, the region’s leading seed and early-stage venture capital firm, has launched ‘Makers’ a construction-tech Innovation Program in collaboration with SIAC, a leading regional private construction firm, and Dar-Al-Handasah (Dar), an international consulting company in engineering, to foster startups in the construction technology solutions across Egypt. Makers ConTech program includes a pre-accelerator for early stage startups and an accelerator program with an investment component for more advanced startups. The pre-accelerator program aims to promote construction industry innovation through connecting and engaging with various stakeholders with extensive expertise, as well as to creating sustainable innovation ecosystems for construction-related challenges within SIAC, Dar and the industry at large.
The Makers ConTech Innovation Program in its pre-accelerator stage, will provide selected startups with strategic mentorship, entrepreneurship-focused business training, subject matter one-on-one sessions, and a wide range of perks and services from partners. The pre-accelerator program is designed to support entrepreneurs by guiding them in developing and presenting their innovative ideas and solutions to SIAC and Dar, with the possibility of being selected to run a pilot program with both companies. After completing the program, startups will be well-positioned to raise funding.
The pre-accelerator program also aims to shed light on the significance of the construction revolution and the adoption of new digital technologies in the construction sector in order to boost its competitiveness and productivity. Bringing the construction industry one step closer to a more sustainable, productive, and technologically advanced environment.
“A shift toward digitizing construction solutions is becoming increasingly important in order to achieve safer and more productive results. Using robotics and data analytics to digitize construction processes for construction sites and industrial plants, data assembly, transactions, and city design, companies will be able to save labor costs, address labor shortages, and improve safety. We are excited to launch the Makers ConTech Innovation Program in collaboration with SIAC and Dar-Al-Handasah with the goal of supporting, investing, and nurturing innovative, sustainable, and promising startups to drive the construction industry revolution,” said Albert Malaty, Managing Director of Flat6Labs, Cairo.
Faysal Shair, Head of Digital Practice at Dar said, “We are incredibly excited to be partnering with Flat6Labs and SIAC to launch the Makers ConTech Innovation Program focused on empowering entrepreneurs to create technology-driven solutions and opportunities for the design and construction sector. We’re looking to develop and support innovators who have the vision, ideas, expertise, and determination to reimagine this exceptionally complex sector and find ways to make it more sustainable, resilient, future-fit, and safer for workers and communities.”
“If we look locally, we can see the sheer scale of construction projects undertaken on a public and private scale. Yet, with this in consideration, the construction sector is still one of the lowest tech-penetrated industries globally and regionally: a sector that hasn’t seen significant productivity growth in the past decade compared to manufacturing or retail. To tackle this issue locally and regionally, we partnered with Dar, Flat6Labs, and other international stakeholders with experience investing in construction technologies and venture building to create the Makers ConTech Innovation Program. In addition, we will enable aspiring entrepreneurs to conceive soft and hard tech innovations that focus on specific industry obstacles by providing them with the necessary resources and industry knowledge. Our overarching objective is to raise awareness of the many opportunities within the sector and increase investor activity in construction technologies.” stated Seif Ragab, Board member at SIAC.
Technologies are a critical asset in meeting the challenge of transforming the construction industry. The new Makers ConTech business models will assist engineers and the construction sector in particular in building, designing, and growing in a cost-effective, sustainable, and safe manner. According to the crunchbase data, almost USD 17B raised by Contech companies with venture capital firms backing. In addition, 24 venture backed construction companies were acquired and 125 venture-backed real estate companies were acquired in 2021.
Flat6Labs will continue to empower innovative startups to achieve their goals by providing funding, technical assistance, and networking opportunities across the country and beyond.
For more information about the application, visit this website: Here
Organon and Flat6Labs Announce Winners of MENA Region’s First Digital-Health FemTech Accelerator
Omgyno’ founded by Doreen Toutikian and Elisabeth Milini in Greece and Lebanon, ‘Siira’ founded by Sandra Salame in Lebanon, and ‘Maternally’ founded by Yasmin El Mouallem in the UAE, were announced the winners of the region’s first digital-health FemTech accelerator, marking the culmination of the program that was launched by Organon and Flat6Labs at Expo 2020 to advance women’s health
The winners were announced at the ‘Demo Day’ event in Cairo Egypt, which saw the participants pitch their ideas to a panel of eminent judges from across the women’s health world
Cairo, Egypt, 13 September 2022 – Omgyno founded by Doreen Toutikian and Elisabeth Milini in Greece and Lebanon, Siira founded by Sandra Salame in Lebanon, and Maternally founded by Yasmin El Mouallem in the UAE were crowned the winners of the MENA region’s first digital-health FemTech Accelerator Program. Launched in October 2021 during Expo 2020 by partners Organon and Flat6Labs to address unmet women’s healthcare needs, the winners were announced after the program’s ten finalists from across Egypt, Lebanon, UAE, Bahrain, Morocco, and Jordan pitched their ideas to a panel of judges and an audience of prospective investors.
The pitches took place at the ‘Demo Day’ event, hosted at the GrEEK Campus. The panel of judges selecting the final winners consisted of Dina El Shenoufy, Chief Investment Officer at Flat6Labs; Ramy Koussa, Associate Vice President of MENAT at Organon; Dr. Amr Alashkar, Chief Information Officer at Cleopatra Hospital Group; Jailan El Messeiry, Group Digital Marketing & Communications Manager at UN Women; and Frederika Meijer, Country Representative at UNFPA.
Omgyno, the start-up that won first place, is a FemTech platform redesigning the gynecological experience. After identifying the causes behind gaps in testing for the potentially cancer-causing HPV virus, including fear of judgment and accessibility, the two entrepreneurs worked on a user-centered platform offering home testing and telehealth, tailored to promote self-care and privacy.
Siira, the start-up that sat in second place, developed a mental health platform designed to accompany women in their daily struggles related to parenting, relationships and work. Conscious that only 30%-35% of people with mental health problems seek professional support, Sandra Salame’s start-up is focused on addressing this gap.
Globally, one in five women experience mental health issues during pregnancy, and/or following birth. Seeking to plug this gap, Maternally, which was adjudged third runner-up, is an online platform being developed to cater to women’s specific mental health needs during their motherhood journey.
“At Organon, we understand that prioritizing women’s health is tied to long-term productivity and resilient societies. That’s why, as part of our ESG Economic, Social and Governance-driven purpose to achieve her promise, we are committed to investing in programs, partnerships, initiatives, and ideas that work to fill that gap. The best ideas for addressing these gaps truly come from the women who experience these challenges first-hand,” said Ramy Koussa, AVP MENAT, Organon.
“With vast unmet medical needs, today, women across the MENA region cannot fully participate in the economy on account of a lack of adequate healthcare. Shockingly, the region loses $575 billion yearly due to the lack of female economic participation,” he added.
Dina El Shenoufy, Chief Investment Officer at Flat6Labs, commented, “At Flat6Labs, we have been delighted to participate in and support this female empowerment initiative. Participating start-ups have received over 65 hours of training sessions led by top local and international advisors, and 27 hours of one-on-one coaching sessions, helping them gain a solid understanding of the FemTech market, connect with key leaders and grow their networks.”
“Our partnership with Organon not only works to redress many of the gender inequities we see in the start-up world, particularly around access to funding, but also to support better women’s health. We know that female health and economic empowerment go hand in hand. By investing in the women in our communities and supporting greater gender equality, everyone across our societies benefits,” she added.
The FemTech accelerator program, announced shortly after Organon’s launch in the MENAT region, is the first regional Environmental, Social, Governance (ESG) initiative by Organon that is committed to addressing unmet women’s needs. Inspired by Organon’s purpose to help women and girls achieve their promise through better health, the program was designed to support female entrepreneurship and digital health start-ups that advance women’s health by providing support to build products, test market fit and improve business models, as well as access to investors.
Is the Global Femtech Industry Empowered Enough?
Women’s healthcare looks uncertain in the future. But, the femtech industry is still developing and you’ll find out why.
The lack of research into the health of women led to the need for femtech. Despite the fact that women spend $500 billion on medical costs each year, just 4% of research and development funding was allocated to problems that directly affect women. Cultural taboos that create barriers for women to get treatable illnesses may be directly responsible for this lack of investment in women’s health.
By the end of 2022, the Global Femtech Market is anticipated to be worth USD 28.77 billion. “You know a topic is hot when VC’s money goes into it once they see opportunities in a field,” mentioned Hana Besbes, the Investment Manager at Heal Capital in Germany.
The largest funders of health tech businesses that concentrate on issues affecting women’s health have been early-stage investors. Since 2015, VC funding for the Femtech industry has increased threefold, rising from just over $600 million to about $1.9 billion in 2017, according to CNBC.
In this post, we will be tackling the opportunities, challenges, and recommendations that were mentioned in our panel talk “The Current State of FemTech Worldwide” in partnership with Organon, which took place on August 10, 2022.
Opportunities that could lead to growth in the Femtech industry:
Turning startups from offline to online has its upside due to better visibility, constant accessibility, and brand development. “The next wave of femtech is what Sophie is trying to do here with Nabta Health, in how we can radically change the standard of care of those women,” emphasized Hana.
Companies specializing in gynecology, fertility, and pregnancy have received the most funding. Infertility was identified by the WHO as a disease and a public health issue, and its rate is steadily rising according to CNBC. With the amount of data and studies done on that, it’s been spoken about and therefore investors have an interest in helping startups tackle this issue through funding.
Challenges that professionals face in the Femtech industry:
Speaking of data and studies, there isn’t enough R&D that could help with clinical support. Women are underrepresented in clinical trials, and their concerns have been disregarded in medical device development according to MedCity News. “Deep tech innovation”, as Hanna calls it, is needed. She is looking for a startup that aims to create the biggest bio-market platform for women’s reproductive health. There are many things that could be done once this is achieved.
“We need more data… from their genetic data to their medication, reactions, compliances, and clinical pathways in order to comprehensively improve women’s health outcomes” shared Sophie Smith, CEO and Founder of Nabta Health.
Another challenge is that male investors lack adequate knowledge related to the femtech industry and its impact. With more awareness of the impact of Femtech products, investors, researchers, and business owners have a real opportunity to support this rising innovation trend and usher in a new era in women’s health.
“We need a lot more support from people who understand the need and value proposition of femtech companies at the early stages” shared Sophie.
If you want to close the gap in the Femtech industry, awareness is a crucial first step, but the problem goes far more profound. The industry needs further development in terms of investment in the R&D sector to access more resourceful data which is critical for any startup’s innovative tech product and service. Farah Kabir, Co-Founder of HANX, expressed that founders should discuss their ideas with as many people as possible as early on as they can so they can tweak and produce more wonderful products
If you’re a startup founder, find out what insights our panelists had to share based on their own entrepreneurial journeys:
Nour Emam, the founder and CEO of Mother Being shares this advice since she went through this hiccup of perfecting her service to avoid failing again. So, she decided to lift her business up by expanding and spreading more awareness about what her business is about with partnerships and workshops.
“Move fast even if you fail quickly so you can try again.” shared Nour.
Echoing what Nour said, Eric Dy, the Co-Founder and CEO of BloomLife, adds that a lot of founders choose to start by focusing on the product, which is obviously crucial, but don’t lose sight of your commercial plan. He emphasized this point so founders can remember to understand their market and any potential stakeholders who may need to support their efforts throughout their growth journey.
“You may have an amazing product that a patient might love and support, but without doctors on board or a way for people to pay for it as they normally would, then you’re going to have a hard time. Understand the full pictures and not get super obsessed with just the product ” mentions Eric.
Don’t miss our upcoming Femtech Accelerator Demo Day, a part of our Femtech Accelerator Program in partnership with Organon. It’s the first of its kind in the MENA region where you can have the opportunity to learn more about the industry and the 9 global startups that will pitch their innovative products in various sectors.
You can tune in to the Demo Day which will be live streamed on September 12, 2022 here.
Connect with us on Instagram, Facebook, Twitter, and LinkedIn for more information.
Written by: Dana El Melki
Flat6Labs and SANAD Entrepreneurship Academy Launch Agritech Accelerator Program to Support Agri-digital Start-ups Across Egypt
Flat6labs, the region’s leading seed and early-stage venture capital firm, in collaboration with SANAD Entrepreneurship Academy launched an agritech accelerator program to assist 10 to 12 startups in each cycle to improve their business models, product development, customer relationships, marketing plans, and financial management. The collaboration marks the beginning of Flat6Labs’ mission to support emerging businesses in the agri-food, food security, and rural development sectors while highlighting the value of the agritech industry in Egypt.
The agri-tech program will give startups access to capital, to grow faster and efficiently, encouraging the development of technologies that make the agriculture industry sustainable, safe, and environmentally friendly. These technologies optimize service quality in the agriculture industry, by facilitating data collection and analysis to quantify performances, while limiting overprice of products/services.
‘’With digital transformation progressing rapidly across industries, and the agriculture industry being a core pillar of the Egyptian economy, the need to digitize the agriculture industry has increased dramatically. We are glad to launch this agritech accelerator program in collaboration with the SANAD Entrepreneurship Academy, as it will serve this need by supporting the startups that provide innovative technologies in the agriculture sector and will contribute to the sustainable growth of the Egyptian economy.” stated Hassan Mansi, Flat6Labs Head of Ecosystem Development Programs.
Empowering and promoting Egypt’s Agri-digital sector would result in advancements in automated machinery and robotics, increasing the efficiency of agricultural productions by precisely locating nutrient availability, checking for diseases, predicting them, and many other useful facilities.
Kim Reichel, Chairperson of the SANAD Technical Assistance Facility Committee said, ”We are very much looking forward to our cooperation with Flat6Labs as they have shown strong commitment to supporting innovative and technology-driven entrepreneurs across MENA. Together, we will create a positive impact by providing targeted support and enabling business owners to thrive. We believe that focusing on the agricultural sector, and specifically agri-tech, is vital in these challenging times and will contribute to increased food security across the region.”
Flat6Labs Egypt and SANAD Entrepreneurship Academy will continue to support bright, passionate, and tech-driven entrepreneurs in Egypt, by providing funding, technical assistance, and networking opportunities across the country and beyond. The venture capital firm will continue to be a cornerstone of the digital transformation of the Egyptian economy building successful job-creating startups that contribute to the economic development in Egypt.
Survey Results: Key Insights About the Startup Ecosystem in KSA
Over the past few months, we conducted a survey to gain more insight about Saudi startups, including early-stage funding, specifically pre-seed funding, as well as the overall challenges facing the entrepreneurship ecosystem in KSA.
We gathered the responses of 100+ full-time startup founders in KSA, who shared their diverse experiences and perceptions throughout their entrepreneurial journey, and reached the following summary:
Challenges facing entrepreneurs:
Among the many challenges that founders face, is the difficulty of securing the capital required to establish a startup in KSA. About 50% of the respondents were unable to raise funds or finance their startups through independent parties. Instead, they relied on their own funds and support from family members.
In addition to the high operating expenses, 50%+ of the startups, in the case that they actually succeed in securing funding, manage to secure no more than SAR 375,000. This amount isn’t sufficient in financing the operations of any business for more than five months. Based on our estimations, such an amount would often be sufficient to cover business operations for only 3-5 months.
It is worth noting that 17.2% of the participants managed to secure more than SAR 3 million in funding, notwithstanding the limited resources and funding amounts available to most participants. This may indicate that funding opportunities are only focused on some specific sectors.
The scarcity of qualified talent for reasonable wages can also be placed at the forefront of the challenges facing startup founders in KSA, where 23.8% of respondents expressed that they are experiencing difficulty in recruiting talent with the funding cap available.
Furthermore, approximately 17% of the entrepreneurs participating in the survey have highlighted another challenge, mainly the statutory fees and requirements imposed by legislative bodies and authorities in order for them to be able to launch their businesses within a legal framework, which limits the opportunities for some startups. It is also worth noting that 40%+ of respondents cited legal, regulatory and PR services as an alternative to cash funding, in return for 3% of equity.
Funding Sources Available:
Due to the scarcity of funding sources for startups, self-funding is the most common source of pre-seed funding, which 30% of startup founders relied on. Angel investors rank first among independent sources of seed funding, at 15%, among other various independent sources that the founders often resort to at the beginning of their journey, such as business accelerators, venture capital funds, etc.
Startup Age:
According to the founders participating in the survey, one third of startups were founded within the past year, representing a positive reflection of the economic landscape in KSA, following the repercussions of COVID-19.
Product Readiness:
50%+ of the participating founders have developed and launched products that are customer ready with more than one third of the startups having generated sales upon introducing their products to the market. Moreover, 17% of the businesses managed to generate sales exceeding 1 million Saudi riyals within the past year.
Preliminary Assessment:
More than half of the respondents believe that their startups are worth SAR 10 million or more, and noted that they may be willing to give up only 5% of equity against SAR 500,000.
Looking to apply to our Riyadh Seed Program? Applications are open here.
Flat6Labs and Taibah Valley Sign MoU to Support IT Entrepreneurs in Saudi Arabia
Riyadh, KSA: 15 February 2022 – Taibah Valley, owned by Taibah University in the Kingdom of Saudi Arabia, and one of the investment companies investing in innovation, modern technologies, building emerging companies, and venture investment, have signed a memorandum of understanding (MoU) with Flat6Labs, a leading seed and early-stage venture capital firm.
Taibah Valley will collaborate with Flat6Labs on several projects to promote and invest in entrepreneurs in the information technology sector which will contribute to promoting the initiatives of the national system in the research, innovation, and information technology sectors. In addition, they will share expertise and knowledge in order to further empower technology entrepreneurs in the KSA.
Dr Jaber Al Mutairi, Chief Executive Officer of Taibah Valley, stated that the efforts of Taibah Valley in the upcoming period will be focused on building a comprehensive system to support and empower the human capital in modern technologies. In addition, they will develop an environment that supports innovation in order to contribute in promoting the development of emerging companies and create opportunities for entrepreneurs working on the 4th Industrial Revolution (4IR) technologies in the KSA, which is considered the largest regional technology hub in the MENA region.
Eyad Albayouk, General Manager of Flat6Labs KSA, added “we’re thrilled about our partnership with Taibah Valley, which we believe is a very valuable one as it will help us in contributing to the localization of technology in a way that serves the national economy in KSA.”
The partnership between Taibah Valley and Flat6Labs is an active step forwards actualizing both organizations’ directive of supporting innovative emerging technology companies in the KSA.
Flat6Labs partners with ESLSCA University to Launch Innovation & Entrepreneurship Incubation Program
Cairo, Egypt. 19th December, 2021 –
Flat6Labs, in partnership with ESLSCA University, has launched a new innovation and entrepreneurship incubation program to empower undergrad students to develop viable and sustainable businesses upon graduation.
The partnership was signed in October this year, marking the commencement of the program for the current semester’s business students. The program is set to provide capacity building for the business undergrads and equipping them with primary knowledge and tools, enabling them to develop competitive products and companies.
Ramez El Serafy, CEO at Flat6Labs, added, “In addition to enhancing entrepreneurship education, this reinvented university acceleration program will be a significant resource not only to the ESLSCA institution, but also to the community at large in innovation, creativity, entrepreneurship, technology commercialization, and regional technological and economic development.”
The incubation program spans over two phases in an 8-month period. In the first phase, 100 selected students grouped in 25 to 30 startup teams, will be given general entrepreneurship awareness and the basics of design thinking all the way to marketing and customer discovery, and offered multiple services and perks including expert-led training and coaching sessions, workshops, and mentorship by market experts.
This will be followed by dividing the startup teams into two main tracks. The TopX track will consist of 10 startups that will receive intensive entrepreneurial training in order to accelerate their growth within the subsequent 3 months, and the Frontier track, which will allow the remaining 15 to 20 startup teams to further develop their entrepreneurial learning sets and skills. The program will culminate with a showcase event, where startups will pitch their ideas and startups to a panel consisting of ESLSCA and Flat6Labs personnel.
ESLSCA took its first year of undergrad students in Egypt in 2019 and since then they have been offering accelerated, rigorous and innovative programs that allow students to move forward in a successful career. Commenting on the program, Dr. Mohamed El Essawy, BBA Program Director at ESLSCA University said, “We’re very excited to be launching this program with a partner that has such an extensive experience and track record in the entrepreneurial sector, both locally and regionally, such as Flat6Labs. At ESLSCA University, we take pride in readying our students for the modern business world in an unparalleled innovative manner, and with this program we believe we’re set to be the launchpad for the next generations of successful entrepreneurs.”
Flat6Labs Ten-Year Impact Report Launch
Flat6Labs Launches the DICE Program Demo Day in Cairo In Partnership with The British Council and Hatch Ideas
Cairo, 30 November 2021 – The DICE Program Demo Day launched in Cairo where 24 startups unveiled their remarkable products and services to investors, prospective clients and guests who were looking forward to providing additional support. This day is a culmination of all the effort and work done by the participating startups on their products and services in the past few months.
Funded by the British Council and in partnership with Flat6Labs and Hatch Ideas, the DICE program focuses on building and developing creative and innovative youth and entrepreneurs’ capabilities, encouraging them to establish innovative and social startups. The program also enables craftspeople and established startups, which provide innovative products and solutions in various sectors, such as visual arts, design, performing arts, handicrafts, movies, media, educational toys and architecture.
Hassan Mansi, the Executive Director of the DICE Program, shares “entrepreneurs of Developing Inclusive and Creative Economies (DICE) form a significant part in the structure of entrepreneurship in Egypt. They positively contribute to promoting the national economy and creating employment opportunities for the youth, especially female entrepreneurs outside Cairo. Currently, the entrepreneurs in the Developing Inclusive and Creative Economies use technology to develop and market their products and keep up with the times while maintaining their heritage at the same time. Flat6Labs is proud to be in a partnership with Hatch Ideas, our partner in the UK and the British Council, which always supports entrepreneurs in the Developing Inclusive and Creative Economies field and through other different programs. The British Council and Hatch Ideas have enriched the program with their ideas and suggestions and their distinguished speakers gave the Egyptian entrepreneurs valuable insights and feedback.
“The range, quality, and professionalism of the creative entrepreneurs on this program have been inspiring and demonstrate why we should be so excited about the massive growth and economic potential of Egypt’s Creative Economy. It has been an honor and a privilege to work with Flat6Labs and British Council to deliver a program that strengthens and realizes the potential of this creative powerhouse”. Yemisi Mokuolu, Founder & CEO Hatch Ideas Worldwide
The Demo Day paved the way for a great opportunity to meet our guests who were invited from various creative industries as well as investors, notable entrepreneurs, companies, governmental entities and the media. It also created a space for sharing experiences, advice and networking opportunities through the diverse discussion sessions that addressed some of the most significant challenges that the creative and handicrafts industries face in Egypt.
“The British Council’s Inclusive and Creative Economies program has been proud to work with the unwavering support of our partners – who created the space for the co-design of policy and community-led initiatives. Together we have been able to connect 25 emerging companies from artists and entrepreneurs with policymakers, intermediaries, investors, and funders. We congratulate all and have every confidence in their success and their contribution to an inclusive and sustainable economy”, shares Elizabeth White, Director of the British Council in Egypt.
Out of 91 startups, 24 companies have qualified, and the day ended with an exciting competition for them to present their businesses to a jury where EGP 225,000 was distributed to the top 3 startups.
First Place: “Adaptive Appeal” won a monetary prize of EGP 100,000.
Second Place: “Banana Art” won a monetary prize of EGP 75,000.
Third Place: “Mavericks” won a monetary prize of EGP 50,000.
The GrEEK Campus in Cairo Hosts HRH Prince Charles of Wales as part of the StartEgypt Annual Forum 2021 powered by Flat6Labs
On November 19th, 2021 (Cairo, Egypt), His Royal Highness, Prince Charles of Wales, was the guest of honor at StartEgypt’s Third Annual Forum 2021 at the GrEEK Campus in Cairo. The program is funded by the British Embassy in Cairo in partnership with the IFC and is powered by Flat6Labs. Ten startups were selected to present at the event after being part of StartEgypt’s incubation program in Cairo, Asyut and Alex during 2020 – 2021.
This visit was part of the two-day visit to Egypt that HRH Prince Charles of Wales had in his first tour abroad since the COVID-19 pandemic began. Mr. Ahmed El Alfi, the Founder and Chairman of the GrEEK Campus and Flat6Labs, had the honor to welcome HRH Prince Charles of Wales in the presence of Dr. Yasmine Fouad, the Minister of Environment and Mr. Gareth Bailey, the British Ambassador in Cairo.
During the visit, HRH Prince Charles of Wales met with a group of entrepreneurs and founders of the StartEgypt startups from different industries such as Sustainable Development, IT and Digital Transformation and more. HRH commended the ideas and solutions presented by the entrepreneurs which were aligned with HRH Prince Charles of Wales’s Sustainable Markets Initiative.