Media ININ Economy We Trust
Abu Dhabi 30-07-2019
StartAid, a business accelerator at New York University Abu Dhabi and supported by Tamkeen, in collaboration with the Khalifa Fund for Enterprise Development, has announced the launch of the fifth edition of the Business Incubator’s Intensive Program, which aims to support Emiratis Growth of their projects over five months, with the deadline for receiving applications is 5 September 2019.
The program is scheduled to start on September 22, 2019, and will conclude during the UAE Innovation Month in February 2020. The top six teams will receive a grant from Khalifa Business Development Fund of AED 10,000 each, while the best team will receive a grant of 25,000 AED.
Several companies will also receive more funding from the Khalifa Fund and Start AD, based on another evaluation conducted under the program.
Companies seeking to qualify for the program must be competent in the technology sector, with an initial presence in the market, a customer base, pilot work or initial partnerships. The founding team should include at least one UAE national and two fully committed members.
Entrepreneurs will be able to expand their business, support local companies to launch pilot projects, and prepare for the investment phase. The program begins with a five-day induction camp in September and another two-day camp in November.
Six teams will be accepted to participate in the Business Incubator Program, consisting of a series of training sessions, workshops and individual meetings with innovative trainers, tailored to participants’ needs. Teams will be assisted in identifying key partners, potential clients, The sector locally and globally, with the aim of supporting their startups to expand their knowledge network and develop their business.
“An innovative program has been launched to foster entrepreneurship among citizens, encourage creativity and innovation, and create a stimulating environment for entrepreneurship in the UAE, in line with the country’s relentless efforts to promote economic diversification,” said Khalifa Khalifa, Acting CEO of Khalifa Fund.
“Since its launch, an innovative initiative has contributed to the dreams of a number of aspiring local entrepreneurs, paving the way for them to realize their creative ideas and projects.” We are proud of the achievements we have made in various areas and specifically what we have achieved through an innovative program that we hope will continue This year.
Vice President of the University of New York Abu Dhabi for Entrepreneurship and Innovation and Director General of StartAd said that countries that support the culture of innovation and entrepreneurship are characterized by rapid growth rates in terms of business opportunities, technological advancement and wealth building. To support Emirati entrepreneurs to launch and expand their projects in a way that has a significant local and international impact. The launch of technology startups by Emirati citizens will accelerate the growth of the economy by transforming it into a business-based system, Global economic oasis in the future.
Innovative has received hundreds of applications last year, including successful projects created by New York University graduates such as the Malena App, Directo School, Homz and Meet the Locals.
