Press release: Tuesday, 26 January 2016 11:00 AM. Arabian Business.

A Dubai-based energy services company has won a chance to compete for a share of a $1 million fund and represent the region at a global finals for social entrepreneurs in San Francisco.

A group of American engineers who founded Taka Solutions, a Dubai-based engineering and technology company, were chosen as the “most promising social entrepreneurs” of the Gulf Final of The Venture, a global competition for social enterprise start-ups.

At the event held at China Grill in The Westin Dubai and Le Meridien Mina Seyahi Beach Resort and Marina, The Venture’s expert judging panel chose Taka Solutions among four other regional finalists who all “hold a deep commitment for doing good to society – and delivering this with a great deal of enthusiasm,” a panelists was reported as saying.

Taka Solutions aims to address the waste of energy in the region caused by to the poor and unhealthy construction of buildings in the UAE. They use energy performance contracts (ESCO model) to reduce the waste of energy in existing buildings while getting paid a portion of the savings.

Charles Blaschke, managing director and Chris Burkhardt, commercial director of Taka Solutions, will join 26 social entrepreneurs from around the world at a week-long training on entrepreneurship in London in March, followed by the global final in New York in July.

Having launched in October 2014, The Venture saw 16 counties participate and over 1,000 start-ups apply in its first year, 2015.