Aerospace Xelerated, an accelerator for software start-ups, is calling on digital services start-ups from around the world to apply to its programme that is run in partnership with the Tawazun Economic Council, the defence and security acquisitions authority of the UAE.
Applications for the 12-week accelerator programme, which opened on August 15, will close on September 25, Aerospace Xelerated said.
The accelerator and Tawazun are teaming up to support entrepreneurs in developing ideas that solve real-life challenges and move the aerospace industry forward. This follows three cohorts led by Boeing, that were supported by industry partners.
Start-ups accepted into the programme will have the option to benefit from a £100,000 ($117,936) investment from Boeing, with potential for additional funding from partners throughout the region.
They will also have access to strategists and technical experts from industry that lend their support to the development of proof of concept opportunities.
“Tawazun is committed to the promotion of innovation. Through a continued focus on technology, we aim to increase efficiency, drive industry best practice and support SME growth,” said Abdullah Al Awani, executive director of economic partnerships at Tawazun.
Since the programme was set up in 2019, start-ups involved in the three previous Aerospace Xelerated cohorts have raised more than £100 million in additional funding and created in excess of 150 jobs across the UK and globally.
Organisations that have worked with past cohorts as partners or mentors include PWC, Frazer-Nash, Chevron Technology Ventures and easyJet.
Through Aerospace Xelerated, start-ups will be introduced to a network of angel investors, venture capitalists and key stakeholders within the aerospace industry.
Successful companies will also be mentored by a global network of experienced entrepreneurs and investors and will receive more than £100,000 in programme perks from partners such as start-up providers Oracle, Amazon, HubSpot, Digital Ocean and others.
Aerospace Xelerated is looking for start-ups in the digital services field.
Companies must be at the mid-late seed stage, preferably working on software solutions. They must also be at the traction stage, with proof of concepts, as well as contracts that are already in place and revenue and/or letter of intents.
The programme does not require the start-ups to be operating in the aerospace sector.
“When it comes to global start-up hotspots, few places are as exciting as the UAE,” said Nichola Bates, managing partner at Aerospace Xelerated and head of global accelerators and innovation programmes at Boeing.
“It is hard to match the extraordinary mix of dynamism, growth, tech, strategic location and government incentives that the Emirates has to offer.
“Having the programme launch out of the UAE will provide further market access not only to the UAE, but to all of the Middle East, Turkey and Africa regions, thanks to the strategic geographical location, as well as the global expansion initiatives that the UAE has accomplished to date.”
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
Killing of Qassem Suleimani
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
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The biog
Favourite Quote: “Real victories are those that protect human life, not those that result from its destruction emerge from its ashes,” by The late king Hussain of Jordan.
Favourite Hobby: Writing and cooking
Favourite Book: The Prophet by Gibran Khalil Gibran
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%3Cp%3EVara%20will%20cater%20to%20three%20categories%20of%20companies%20in%20Dubai%20(except%20the%20DIFC)%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECategory%20A%3A%3C%2Fstrong%3E%20Minimum%20viable%20product%20(MVP)%20applicants%20that%20are%20currently%20in%20the%20process%20of%20securing%20an%20MVP%20licence%3A%20This%20is%20a%20three-stage%20process%20starting%20with%20%5B1%5D%20a%20provisional%20permit%2C%20graduating%20to%20%5B2%5D%20preparatory%20licence%20and%20concluding%20with%20%5B3%5D%20operational%20licence.%20Applicants%20that%20are%20already%20in%20the%20MVP%20process%20will%20be%20advised%20by%20Vara%20to%20either%20continue%20within%20the%20MVP%20framework%20or%20be%20transitioned%20to%20the%20full%20market%20product%20licensing%20process.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECategory%20B%3A%3C%2Fstrong%3E%20Existing%20legacy%20virtual%20asset%20service%20providers%20prior%20to%20February%207%2C%202023%2C%20which%20are%20required%20to%20come%20under%20Vara%20supervision.%20All%20operating%20service%20proviers%20in%20Dubai%20(excluding%20the%20DIFC)%20fall%20under%20Vara%E2%80%99s%20supervision.%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECategory%20C%3A%3C%2Fstrong%3E%20New%20applicants%20seeking%20a%20Vara%20licence%20or%20existing%20applicants%20adding%20new%20activities.%20All%20applicants%20that%20do%20not%20fall%20under%20Category%20A%20or%20B%20can%20begin%20the%20application%20process%20through%20their%20current%20or%20prospective%20commercial%20licensor%20%E2%80%94%20the%20DET%20or%20Free%20Zone%20Authority%20%E2%80%94%20or%20directly%20through%20Vara%20in%20the%20instance%20that%20they%20have%20yet%20to%20determine%20the%20commercial%20operating%20zone%20in%20Dubai.%C2%A0%3C%2Fp%3E%0A
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THE BIO
Born: Mukalla, Yemen, 1979
Education: UAE University, Al Ain
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Favourite place to travel to: Washington DC
Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
