The Abu Dhabi Investment Office has partnered with Microsoft and Plage and Play to implement a set of initiatives that provide new company founders and entrepreneurs with the tools necessary to expand their businesses.
The partnership to enable startups comes to launch a series of vital programs in the Emirate of Abu Dhabi to accelerate the growth opportunities available to these companies during the current year and the coming years.
The Emirate of Abu Dhabi has built an enabling business environment that focuses on promising talent to help innovative startups reach the successes they seek in the emirate, and thanks to this, it ranked twelfth in the world in the Ease of Doing Business report issued by the World Bank in 2020.
In order to maintain the development momentum of the innovation system in the emirate, the Abu Dhabi Investment Office is cooperating with “Microsoft” and “Plage and Play” to empower start-ups by providing them with the strategic financing necessary for their major projects.
Partnerships also aim to support companies that have high growth potential and are still in the early stages of their business.
Dr. Tariq bin Hindi, Director General of the Abu Dhabi Investment Office, said, “Abu Dhabi has laid the right foundations to enable emerging companies to access all opportunities and means that help them transform their ambitious ideas into successful projects on the ground.”
He added, “We affirm our commitment to strengthening our support for investors and innovators during the year 2021, which is embodied in the new cooperation agreements signed with Tamkeen entities and programs from all over the world to provide the business community with the necessary financing, relationships and guidance.”
He continued, “At a time when the global economy is looking ahead to future stages, the Emirate of Abu Dhabi today is in a position to be the first investment destination for people with creative ideas to realize their ambitions in it.”
The Abu Dhabi Investment Office is collaborating with Microsoft to launch a series of initiatives within the Microsoft Startups Program, which provides technical and professional support and Azure services for cloud computing with the aim of accelerating growth opportunities for startups.
Under the agreement, Microsoft will manage a number of programs over five years to support the ecosystem of emerging technology companies in the region.
The move will start with the “X Growth Accelerator” program, a virtual accelerator program that focuses on employing local and regional startups to establish and expand their operations in the Emirate of Abu Dhabi.
Plage and Play is an innovation platform that brings together the best emerging projects and the largest companies and government agencies in the world, and is currently running development accelerator programs in the Middle East from the Abu Dhabi Financial Market Square.
In addition to these new partnerships, the Abu Dhabi Investment Office is cooperating with a number of partners, including Abu Dhabi Financial Market Square, HAP 71, ADQ Holding and Mubadala to further develop the innovation ecosystem in the emirate.