GrowthX, a Microsoft start-up accelerator programme backed by the Abu Dhabi Funding Workplace, is now accepting functions for its third cohort.
The initiative is targeted on start-ups on the progress stage — seed and sequence A phases — within the Center East, Turkey and Pakistan, and can equip them with enterprise gross sales methods and educate them to scale up their operations, Microsoft mentioned on Monday.
The ten-week digital programme will run from September 19 to November 25, and can ultimately increase the contribution of start-ups to Abu Dhabi’s entrepreneurial ecosystem by driving financial progress and creating jobs, it mentioned.
“Tech start-ups, specifically, provide vital alternatives to speed up innovation throughout the UAE and the area by bringing inventive and distinctive options to varied challenges. Abu Dhabi is dedicated to supporting and nurturing the expansion of modern companies,” mentioned Abdulla AlShamsi, appearing director basic of Adio.
Abu Dhabi continues to reinforce its start-up setting because it banks on know-how to drive financial progress and inclusion throughout all sectors.
The emirate may be very lively in selling the expansion of the trade by a number of initiatives.
In July, Hub71, Abu Dhabi’s international know-how ecosystem, unveiled its second Outliers programme, an annual initiative that invitations start-ups around the globe to resolve precise challenges introduced by collaborating organisations.
It additionally helps start-ups to guard their operations and offers them a chance to obtain as much as Dh100,000 ($27,229) to fund their proof of idea.
Alongside GrowthX’s new cohort, Microsoft additionally introduced that it had opened registrations for its Freeway to 100 Unicorns convention sequence, which can also be supported by Adio and can function trade leaders.
Greater than 45 unicorns, start-ups which have a valuation of a minimum of $1 billion, are anticipated to emerge from the Mena area by 2030, a latest report by Riyadh-based enterprise capital fund STV mentioned.
In GrowthX’s most up-to-date programme, it welcomed 21 know-how start-ups for a 12-week coaching course.
“We recognise the potential that start-ups convey to speed up digital transformation throughout the area,” mentioned Naim Yazbeck, basic supervisor of Microsoft UAE.
“We look ahead to harnessing these companies and additional strengthening the essential function Abu Dhabi performs within the regional entrepreneurship ecosystem.”
Earlier this month, Microsoft teamed up with Emirates NBD, Dubai’s largest lender by property, and the Dubai Worldwide Monetary Centre’s FinTech Hive to arrange a 10-week international accelerator programme for metaverse start-ups.
Up to date: August 29, 2022, 10:51 AM