Khalifa Fund completes the first edition of Level Up and announces the winning agritech startups

• Circa BioTech and CODE Three Fourteen Technologies were announced as the winners amongst the10 shortlisted startups 

Abu Dhabi, United Arab Emirates : Khalifa Fund for Enterprise Development, in cooperation with ADAFSA, ADIO Catalyst and Wageningen University and Research, saw the successful completion of the first edition of its ‘Level Up’ project that enables SMEs and startups to scale and reach new heights. The first version of the programme saw 10 shortlisted agritech companies go through 5-weeks of training and mentorship, before a final pitching day where Circa BioTech, a food waste management solution, and CODE Three Fourteen Technologies, a company that helps increase agricultural yield, were established as the winning companies.

HE Alia Al Mazrouei, Advisor to the Chairman of the Department of Economic Development stated: “We congratulate Circa BioTech and CODE Three Fourteen Technologies for coming out at the top for this edition of Level-Up. The programme was developed to provide a complete ecosystem to help SMEs and startups seize new opportunities and continue to excel post-pandemic.

COVID-19 has changed how the world works and while most of these companies recognize the urgency of reinventing their business models to remain competitive and propel growth, they need assistance in navigating this uncharted territory. Level Up brings seamless access to new markets, technologies, and expertise to entrepreneurs, startups, and SMEs - who are at the very heart of Abu Dhabi’s economy.”

Circa BioTech and CODE Three Fourteen Technologies are agritech companies working to help solve some of the most pressing problems related to agriculture. Circa Biotech aims to tackle the high volumes of organic waste in urban cities that are commonly disposed of directly at landfills. Instead of dumping this waste, Circa Biotech upcycles it into high-quality products using Black Soldier Fly Larvae. This results in the production of high-quality organic fertilizers, proteins, and lipids that can be utilized for aquaculture and livestock production and to enhance agricultural growth. 

CODE Three Fourteen Technologies is an Emirati-driven Abu Dhabi-based agritech

software company developing innovative drone autonomous technologies to increase crop yield, reduce the use of pesticides, and tackle the problems of dwindling food production and diminishing water resources amidst growing population numbers.

Haythem Riahi, CEO of Circa BioTech said : “The post-pandemic world has brought forth an entirely new set of challenges and opportunities that many new companies are grappling with. Initiatives like Level-Up by Khalifa Fund are crucial to boost the local industry and encourage SMEs and startups in the country to keep innovating and pushing boundaries. The team at Circa BioTech is thankful for the opportunity. It was a brilliant and unforgettable experience by all means”.

Mohammad Al Moosa, CEO of CODE Three Fourteen Technologies said : “By 2050, the world’s rising temperatures will reduce crop yield by 2-4% while certain areas will lose crop production entirely. On the other hand, the earth’s growing population and its demand for food will increase considerably. A global effort today is required to tackle these issues and CODE is committed in being part of this global initiative. We are proud and incredibly grateful to have participated in Khalifa Fund’s Level Up which recognized the work that we continue to do in the AgTech space. Programs and initiatives like this are what truly level up and raise the game and make a big difference to the world

The initiative is designed to operate in consecutive stages, each lasting from 2 to 4.5 months according to specialised sectors. The format includes two months of learning and mentorship, a forum and demo day, and two meetup events. Apart from agriculture technology, other sectors to be covered in upcoming editions include finance, ICT, health services, biopharma, tourism and real estate.

Through the emergence of innovative and modern solutions, this part of the programme will play a crucial role in increasing productivity, protecting ecosystems, enhancing local production, reducing waste in the agriculture sector, improving nutrition, and creating potential partnerships to diversify food sources in the country.

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About Khalifa Fund for Enterprise Development

Khalifa Fund for Enterprise Development was established in 2007, by the virtue of the Law 14 of 2005 and its amendments, in the implementation of the vision of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi. The Khalifa Fund works as an independent, not-for-profit economic development agency of the Government of Abu Dhabi for the development and support of small-to-medium enterprises (SMEs).

The Fund helps to develop local enterprises in Abu Dhabi through instilling and enriching an investment culture amongst UAE nationals. The Fund also seeks to support and develop SMEs in the Emirate.

Khalifa Fund was founded in 2007 with a total capital of AED 300 million, which gradually increased in 2008 to AED 1 billion, in order to meet the growing demand for the Fund’s services. In 2011, the Fund’s total capital was increased to AED 2 billion, and the Fund covered all of the UAE through a network of branches. 

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