Staying Related, The Want Of The Hour For Startups

Staying Relevant, The Need Of The Hour For Startups

Startups with a mindset of embracing new applied sciences have been on the forefront of digital transformation

The UAE has a long-standing relationship with India and the nation is our third greatest commerce companion

Abu Dhabi could be a guiding beacon towards development for India’s tech group

The Covid-19 disaster has put appreciable pressure on startups, impacting every little thing from provide chains to mobility. With out the deep pockets that tech giants have, many startups are nonetheless dealing with the shock of the pandemic.

But, the significance of innovation in expertise is heightened and the expertise sector has been thriving all through the disaster. A improvement that was acknowledged by the UAE authorities and additional underpinned by the appointment of the Minister of Trade and Superior Expertise, His Excellency Dr Sultan Al Jaber, the Minister of State for Synthetic Intelligence, Digital Economic system and Distant Working, His Excellency Omar Al Olama, and the Minister of State for Entrepreneurship and SMEs, His Excellency Ahmad Belhoul.

Startups with a mindset of embracing new applied sciences have been on the forefront of Abu Dhabi’s digital transformation even all through the pandemic. One instance is Hub71’s Addenda, an revolutionary insurtech startup that makes use of blockchain expertise to hurry up motor insurance coverage claims, is now pivoting its enterprise mannequin to supply rewards for protected drivers.

It’s in instances like these, companies, governments, and entrepreneurs are reassessing their method to expertise, the digital financial system and transformation. This mindset will permit them to develop.

The UAE’s capital has closely invested within the expertise sector for years and has been gearing as much as change into a worldwide innovation hub. The Abu Dhabi authorities has launched outstanding initiatives, together with the institution of the world’s first college devoted to synthetic intelligence (AI), Mohammed Bin Zayed College of Synthetic Intelligence (MBZUAI) and, extra just lately, the announcement of an Superior Expertise and Analysis Council that will probably be headquartered in Abu Dhabi to spice up homegrown expertise and revolutionary expertise.

Abu Dhabi sits on the crossroads between East and West, with easy accessibility to high-growth markets in Africa, Asia, and Europe with the provision of deep swimming pools of funding, Abu Dhabihas many value-adding incentives for startups.

The Abu Dhabi authorities launched the longer term targeted Ghadan 21 program, a $14 Bn undertaking that features a AED 500 million tech fund. Hub71 is a flagship initiative, born out of Ghadan 21, set as much as foster and nurture international tech startups and provides startups equity-free incentives that covers housing, medical insurance and WeWork x Hub71 workplace house. These incentives are positioned in opposition to Abu Dhabi’s backdrop of state-of-the-art R&D facilities, digital infrastructure, high-speed 5G networks and superior cloud expertise that may assist rework the longer term financial system.

We’re making it simpler for startups from India and around the globe to conceptualize, develop, and check their revolutionary services and products.

Indian startups are welcome in Abu Dhabi. The UAE has a long-standing relationship with India and the nation is our third greatest commerce companion. Our relationship was additional deepened by our strategic companion Mubadala’s $1.2 Bn funding into India’s Jio Platforms, a Reliance Industries subsidiary, with greater than 388 Mn subscribers.

Only a three-hour flight from India’s prime tech hubs, Abu Dhabi’s Hub71 provides markets alternatives to growth-stage startups, helps them with entry to capital and beneficial mentorship via its huge community of influential company companions, together with Mubadala, Microsoft and Abu Dhabi International Market.

For a lot of, the Covid-19 disaster might sound daunting. For us, we see it as a possibility – a possibility to work collectively, create one thing new and embrace a digital-enabled future.

Now could be the time to make the most of the alternatives that lie forward, and Abu Dhabi could be a guiding beacon towards development for India’s tech group.

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