10/15/2021 | Press release | Archived content
City Solution of the Year Pharem Biotech to Receive $100,000
(Boston, MA - October 15, 2021) The 2021 QBE AcceliCITY Resilience Challenge, hosted by Leading Cities in partnership with QBE North America, concluded today with the City Solution of the Year awarded to Pharem Biotech, an innovative cleantech company with a highly efficient and sustainable approach to water treatment.
Current trends indicate that pharmaceuticals leaking into waterways could increase by two-thirds before mid-century and The World Health Organization has identified this as one of the five top challenges facing the future of humanity.
By removing hazardous organic pollutants from water, Pharem Biotech can help by removing substances like pharmaceutical waste that enters rivers, lakes and drinking water, which can have devastating effects on underwater wildlife as well as human health.
"Congratulations to Pharem Biotech! We look forward to following your progress in addressing one of the most challenging environmental problems-the water crisis," said QBE North America CEO Todd Jones. "Taking care of people and fostering more resilient and sustainable communities is at the heart of QBE's culture. Sponsoring this challenge is no different and we're pleased to bring it to life once again this year."
The $100,000 award was presented following a four-day intensive boot camp and panel evaluation from representatives of the World Economic Forum, United Nations, Arsht-Rockefeller Foundation Resilience Center, QBE Ventures, and QBE North America. The champion startup also will be the feature of the upcoming AcceliGOV program, where cities from around the world compete to win a pre-paid pilot program of this treatment solution.
"Thank you to QBE North America for continuing to support this challenge. Only about 1% of the water on Earth is clean drinking water available for our growing population to consume," said Michael Lake, President and CEO of Leading Cities. "Recognizing the twin threat our water supplies are facing with climate change and pollution, the potential impact for preserving our water is one of the greatest opportunities we have to protect humanity."
About Pharems Zymatic
Despite the complexity of the technology and research that created Pharems Zymatic solution, the implementation is remarkably simple and leverages existing water treatment equipment. Enzymes are used to target and isolate specific pollutants present in the water which produces cleaner, safer treated water. This makes Zymatic suitable for both municipal wastewater treatment plants and industrial processes on a global scale.
Pharem was one of ten finalists representing the world's foremost urban technology startups among more than 500 companies that applied from 44 countries. The finalists presented their pitches to a five-person panel made up of Jeff Merritt of the World Economic Forum; Katja Schäfer of UN-Habitat; Truett Tate, Chairman of the QBE North America Board; Eleni Myrivili of the Arsht-Rockefeller Foundation Resilience Center; and Daniel Wypler of QBE Ventures.
After a 5-month vetting process, a 3-month curriculum and a virtual Boot Camp, QBE and Leading Cities announced the City Solution of the Year in a one-hour production featuring the pitches and highlights of the 2021 QBE AcceliCITY finalists.
Runners-up awards were also selected by QBE Insurance Group with Full Cycle Bioplastics winning both the North American and Australia Pacific/Asia employees' vote for a total of $50,000 of funding. Full Cycle Bioplastics transforms organic waste into PHA, a high-performing, compostable alternative to oil-based plastics.
The QBE AcceliCITY Resilience Challenge has quickly become one of the largest programs of its kind in the world and has demonstrated tremendous impact. AcceliCITY alumni have already raised in excess of $200 million, with the program's first champion securing a successful sale of the business and cities gaining access to innovative solutions from around the world.
At its core, QBE AcceliCITY lowers the cost of innovation for local governments as well as startups and corporations by streamlining the innovation and implementation cycles for smart and resilient city solutions. The QBE AcceliCITY program connects startup's smart solutions directly with users and provides the proper channels and know-how to deploy in cities.
About the Finalists
About Leading Cities
Leading Cities connects cities across the globe with innovations and insight to drive resiliency, equity, and sustainability. This is achieved by cultivating a global network of forward thinkers from the public, private, academic, and non-profit sectors as well as delivering advanced research, emerging trends and vetting solutions that will address urban challenges. The AcceliCITY program aims to de-risk innovation for cities by sourcing and vetting solutions that will answer their most pressing challenges. Additional information can be found at www.LeadingCities.org or by following Leading Cities on Twitter, LinkedIn, and Facebook.
QBE North America is a global insurance leader focused on helping customers solve unique risks, so they can focus on what matters most. Part of QBE Insurance Group Limited, QBE North America reported Gross Written Premiums in 2020 of $4.775 billion. QBE Insurance Group's 2020 results can be found at www.qbe.com.
Headquartered in Sydney, Australia, QBE operates out of 27 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries. The actual terms and coverage for all lines of business are subject to the language of the policies as issued. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's. Additional information can be found at www.qbe.com/us or follow QBE North America on LinkedIn and Twitter.