ModulusTech awarded by the Islamic Development Bank
ModulusTech awarded the Transformer Award by Islamic Development Bank in Cambridge 2018
Interview with IsDB:
This spotlight focuses on Nabeel Siddiqui, CEO and co-founder of ModulusTech. His company is a cleantech start-up revolutionizing the affordable housing sector through an innovative, flat-packed housing design. His work aims to make it possible to set up houses in as little as 3 hours, while providing standard living conditions and superior energy efficiency, reducing the carbon footprint and contributing to a more sustainable future.
PLEASE CAN YOU TELL US ABOUT YOUR WORK?
I’m very engaged with my work at ModulusTech, which was founded with an aim to provide a sustainable housing solution for those who lacked adequate living conditions around the globe. With over 1.6 billion people lacking access to proper housing today, our innovative, flat- packed housing technology makes it possible to set up a comfortable house in as little as 3 hours, while costing as low as $3000. Being affordable and quick to set up, the houses offer superior energy efficiency and are resilient to natural hazards, while being environmentally sustainable with an extremely low carbon footprint. Hence, our work not only tackles huge social problems, it also has an environmental focus. We are also developing houses that are autonomous and completely self-sustaining to further reduce their environmental impact.
HOW IS ENGAGE AND THE TRANSFORM FUND GOING TO HELP YOU ACHIEVE YOUR AMBITIONS?
With their support, we will be able to grow and innovate at a faster pace, as well as being able to reach out to various countries and markets and have a greater impact.
WHICH SUSTAINABLE DEVELOPMENT GOAL (SDG) DOES YOUR WORK SUPPORT THE MOST?
We contribute to at least 10 SDGs with our work, primarily;
SDG3: Ensure healthy lives and promote well-being for all at all ages,
SDG7: Ensure access to affordable, reliable, sustainable and modern energy for all,
SDG11: Make cities and human settlements inclusive, safe, resilient and sustainable, and
SDG13: Take urgent action to combat climate change and its impacts.
WHY DO YOU THINK IT’S IMPORTANT TO SUPPORT THE SDGS?
Supporting the SDGs (or their principles) is not really an option, it is critical for our survival as a species. For example, with problems such as climate change, the world may not get a second chance to correct its ways. Hence, we need to work now and work together to prevent major disasters from happening.
WHAT ADVICE WOULD YOU GIVE TO SOMEONE THINKING ABOUT STARTING A BUSINESS TO MAKE A DIFFERENCE IN TODAY’S WORLD?
Look at the big picture, keep an open mind, be honest to yourself and keep learning and pushing harder.
WHAT WAS THE LAST BOOK YOU READ AND WHY?
Homo Deus: A Brief History of Tomorrow by Yuval Noah Harari. It captures the journey of humanity throughout time and gives a heads up of the challenges we are about to face and what must be done to thrive.