The Abu Dhabi Investment Office and Microsoft welcomed 21 technology start-ups in the second edition of the jointly-run GrowthX Accelerator programme that aims to provide selected companies with access to the market and investors.
The new batch of start-ups will participate in a series of activities for 12 weeks. The activities will equip them with technical and technological knowledge to advance their business ideas, which aim to solve real-world challenges being faced by corporations in the region, Microsoft said on Tuesday.
THE NEW BATCH'S FOCUS SECTORS
AiFlux – renewables, oil and gas
DevisionX – manufacturing
Event Gates – security and manufacturing
Farmdar – agriculture
Farmin – smart cities
Greener Crop – agriculture
Ipera.ai – space digitisation
Lune Technologies – fibre-optics
Monak – delivery
NutzenTech – environment
Nybl – machine learning
Occicor – shelf management
Olymon Solutions – smart automation
Pivony – user-generated data
PowerDev – energy big data
Sav – finance
Searover – renewables
Swftbox – delivery
Trade Capital Partners – FinTech
Valorafutbol – sports and entertainment
Workfam – employee engagement
The programme also aims to further drive Abu Dhabi's position as a global hub for technology and entrepreneurship.
“Abu Dhabi has been a leader in leveraging advanced technology to generate sustainable economic impact,” said Mohamed Al Dhaheri, acting executive director of business enterprise at Adio.
"Key to our approach has been the empowerment of innovative tech start-ups that play an important role in accelerating innovation and boosting entrepreneurship."
The UAE continues to support the start-up ecosystem with programmes and partnerships to boost the sector and encourage investments.
Start-ups in Hub71, the global technology ecosystem based in Abu Dhabi Global Market, secured Dh1.5 billion ($408 million) worth of investments, created 1,000 new jobs and posted revenue of about Dh1.2bn since the hub's inception in 2019.
Abu Dhabi venture capital firm Shorooq Partners launched a $150m fund to support early-stage start-ups operating in the Middle East and North Africa and Pakistan region, while Abu Dhabi's holding company ADQ and the Turkey Wealth Fund formed a new $300m technology fund.
Abu Dhabi has been a leader in leveraging advanced technology to generate sustainable economic impact
Mohamed Al Dhaheri,
acting executive director of business enterprise at the Abu Dhabi Investment Office
Dubai, meanwhile, is home to almost 40 per cent of the Mena region’s scale-ups or companies with 10 or more employees, which have recorded average annual growth of at least 20 per cent over the past three years. The emirate also accounted for almost 57 per cent of the scale-up funding in the region last year, a report from the Dubai Chamber of Digital Economy said.
The GrowthX Accelerator is part of the Microsoft for Start-ups Middle East and Africa programme.
Microsoft said GrowthX will familiarise the participating start-ups in business practices including selling, hiring, fundraising, mentoring and community building, while taking part in marketplaces, talent partnerships, investor workshops, community connections and corporate pitches.
The new programme comes about two months after the first cohort concluded, and its success was a driving factor for the new cohort that aims to be "more hands-on and offers even more value", said Roberto Croci, managing director of Microsoft for Start-ups.
"The 21 start-ups participating in this event will gain incredible knowledge from mentors in the programme that will not only help them scale their businesses, but drive real impact across the region," he added.
Adio helps investors and companies establish, grow and develop their businesses in Abu Dhabi as part of its efforts to grow the capital’s private sector and diversify its economy.
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
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Mohammed bin Zayed Majlis
UAE currency: the story behind the money in your pockets
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
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Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
The specs
Engine: 3.6 V6
Transmission: 8-speed auto
Power: 295bhp
Torque: 353Nm
Price: Dh155,000
On sale: now
Brief scoreline:
Al Wahda 2
Al Menhali 27', Tagliabue 79'
Al Nassr 3
Hamdallah 41', Giuliano 45 1', 62'
SUZUME
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
UAE currency: the story behind the money in your pockets
UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
Total eligible population
About 57.5 million people
51.1 million received a jab
6.4 million have not
Where are the unvaccinated?
England 11%
Scotland 9%
Wales 10%
Northern Ireland 14%
The specs
Engine: 2.0-litre four-cylinder turbo
Power: 268hp at 5,600rpm
Torque: 380Nm at 4,800rpm
Transmission: CVT auto
Fuel consumption: 9.5L/100km
On sale: now
Price: from Dh195,000
Name: Brendalle Belaza
From: Crossing Rubber, Philippines
Arrived in the UAE: 2007
Favourite place in Abu Dhabi: NYUAD campus
Favourite photography style: Street photography
Favourite book: Harry Potter
JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
if you go
The flights
Emirates flies to Delhi with fares starting from around Dh760 return, while Etihad fares cost about Dh783 return. From Delhi, there are connecting flights to Lucknow.
Where to stay
It is advisable to stay in Lucknow and make a day trip to Kannauj. A stay at the Lebua Lucknow hotel, a traditional Lucknowi mansion, is recommended. Prices start from Dh300 per night (excluding taxes).
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THE NEW BATCH'S FOCUS SECTORS
AiFlux – renewables, oil and gas
DevisionX – manufacturing
Event Gates – security and manufacturing
Farmdar – agriculture
Farmin – smart cities
Greener Crop – agriculture
Ipera.ai – space digitisation
Lune Technologies – fibre-optics
Monak – delivery
NutzenTech – environment
Nybl – machine learning
Occicor – shelf management
Olymon Solutions – smart automation
Pivony – user-generated data
PowerDev – energy big data
Sav – finance
Searover – renewables
Swftbox – delivery
Trade Capital Partners – FinTech
Valorafutbol – sports and entertainment
Workfam – employee engagement
