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 that, it ranked twelfth globally in the World Bank’s Ease of Doing Business report in 2020. With the aim of maintaining the momentum of the innovation system development. In the emirate, the Abu Dhabi Investment Office collaborates with Microsoft and Plage and Play to empower start-ups by providing them with the necessary strategic financing for their major projects, and to support companies that have high growth potential and are still in the early stages of their business.
On this occasion, Dr. Tariq bin Hindi, Director General of the Abu Dhabi Investment Office, said: “The Emirate of 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. We affirm our commitment to strengthening our support for investors and innovators during 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 funding, relationships and guidance. At a time when the global economy is anticipating future stages, the Emirate of Abu Dhabi today is in a position to be the first investment destination for people with creative ideas to achieve their ambitions there. ”
Technical and professional support
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 this agreement, Microsoft will manage a number of programs over five years to support the ecosystem of emerging technology companies in the region. This step will begin with the “X Growth Accelerator” program, a virtual accelerator program that focuses on employing local and regional start-ups to establish and expand their operations in the Emirate of Abu Dhabi. And “Highway to 100 Unicorns”, an interactive initiative that organizes activities focusing on emerging projects with support from the regional partner system, to attract companies with high growth potential to participate in future programs launched by Microsoft and the Abu Dhabi Investment Office. Work is underway in the current stage to prepare new initiatives directed at citizens and residents of the United Arab Emirates, in addition to university students, which are scheduled to be launched in the coming months.
Microsoft UAE Sayed Hashish, General Manager of Microsoft Emirates, said: “Start-ups play a pivotal role in advancing innovation and accelerating economic growth, and the Emirate of Abu Dhabi has become a platform for launching ideas and innovations of these companies and expanding their reach worldwide. Our strategic partnership with the Abu Dhabi Investment Office reflects the depth of our commitment to be the global technology partner supporting the growth and development of promising entrepreneurs, and to contribute to the establishment of businesses and companies that make qualitative shifts in various sectors based on the latest technological innovations, and enable them to achieve greater achievements and successes. ”
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. Since its launch in 2017, the partnership between Plage and Play and Abu Dhabi Financial Market has resulted in establishing a driving force for innovation in the region, by facilitating the access of emerging regional projects to the expertise and knowledge of emerging and large global companies alike. The Abu Dhabi Investment Office is working to advance this trend by partnering with “Plage and Play” to support two of the current accelerator programs that focus on the financial and health technology sectors, as well as launching an additional accelerator that will be put into operation during the first half of this year. The agreement also includes the Abu Dhabi Investment Office providing the necessary financing for accelerators, and close cooperation with “Plage and Play” to consolidate the leading position of the Emirate of Abu Dhabi as a major hub for innovation in the region.
Plage & Play
Said Amidi, Founder and CEO of Plage & Play, said: “We are proud of our partnership with the Abu Dhabi Investment Office to continue supporting talents and promising technology companies and helping them grow in the UAE and the GCC region. Our focus since the last three years has been on providing real business opportunities for emerging and innovative companies at the local, regional and global levels, which are able to leave a strong footprint in vital economic sectors through cooperation with relevant government agencies and large companies. Thanks to the support provided by the Abu Dhabi Investment Office, and with our growing network of partnerships with a selection of the most important entities from the public and private sectors, we are confident of the success of our vision in the GCC region, which aims to build a sustainable and flexible job market for emerging companies that guarantees them opportunities for launch, success and expansion. ».
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 continue developing the innovation ecosystem in the emirate. The office plays a fundamental role in linking investors and companies to study potential cooperation opportunities within the business system in the Emirate of Abu Dhabi, bringing together the right partners and helping them grow and expand in the emirate and achieve sustainable and long-term successes in the region.