Abu Dhabi, UAE – Krypto Labs, the Abu Dhabi-based global innovation hub, announced today the 16 shortlisted startups that will enroll in The Bridge, a unique hybrid program that aims to build the capabilities of aspiring entrepreneurs to maximize their success potential.
Almost 50% of the selected teams have an Emirati member and will enroll in a 3-month program that will commence this February, wherein they will receive custom training and mentorship from global mentors and industry experts, in efforts to support the teams in fine-tuning their MVPs, grow their entrepreneurial capabilities, and secure funding from angel investors and venture capitalists, while receiving more than $60,000 worth of development professional services.
As the strategic partner of The Bridge, Sandooq Al Watan is supporting the capacity building activities in the program while assisting its deal flow through the fund’s various initiatives and large national networks. Sandooq Al Watan will evaluate the program’s first phase graduates for potential investment, under its vision to embody the national priorities and enhance the prospects of sustainable development by fostering an active entrepreneurial community in the UAE and maximize the growth of Emirati startups.
Dr. Saleh Al Hashemi, Managing Director of Krypto Labs, said: “We are happy to announce the shortlisted teams who have showcased truly astounding potential in their applications. We believe that with the proper elements for success, these startups will bring into fruition a remarkable transformation and positive disruption within their industries. As the UAE embarks on a country-wide transformation to a knowledge-based economy, these startups will act as accelerators in their own right, towards enhancing the competitiveness of their industries and contributing to the national growth.”
H.E. Ahmed Fikri, Acting Director General of Sandooq Al Watan, mentioned: “The United Arab Emirates is investing heavily in talents and future technologies that will empower a knowledge-based economy, as envisioned by our leadership. We at Sandooq Al Watan firmly believe in the important role of innovative startups in fulfilling this vision and always strive to achieve our UAE national priorities through investments and capacity building programs that aim to support and empower entrepreneurs to innovators to participate in the development of our future.”
The 16 shortlisted startups that have qualified for The Bridge are the following: Arabat, Carsimpli5, Fahfuh, Fatima+, FEGI, Fetch39, Groubox, KandoozStudio, Kluly, Marget, Mjeeb, NodeBook, OLE, Orgreen, Smart Navigation and YEAH.
About Sandooq Al Watan
Sandooq Al Watan is a community initiative launched by a group of prominent Emirati businessmen that seeks to develop skillsets among the national workforce and establish a knowledge economy. The initiative promotes a sense of social cohesion in Emirati society. The initiative aligns with the UAE leadership’s vision for a sustainable development and a better future for the country and its citizens. It reflects the private sector’s commitment to social responsibility and highlights its critical role in supporting development projects, initiatives, entrepreneurs and innovators.
Sandooq Al Watan seeks to attract investments and community contributions, steering them towards comprehensive sustainable development efforts. The Fund also adopts innovative initiatives that benefit the key sectors it operates in. Abu Dhabi Investment Company will oversee Sandooq Al Watan’s investments through innovative strategic approaches that ensure the sustainability of its current and future plans, ensuring returns in the long term.
About Krypto Labs
Krypto Labs is a global innovation hub that offers custom business incubation and acceleration programs, corporate innovation, funding for early-stage startups, entrepreneurship-focused training and an inspiring coworking space. Krypto Labs is a strategic partner with Silicon Valley-based 500 Startups, which is among the world’s most active seed investors with over 2,000 startups.
Krypto Labs has evolved into a leading global player in terms of attracting leading-edge ideas, startups, and innovative solutions. Through its broad entrepreneurial network, Krypto Labs has successfully executed several sector-specific cohorts that have culminated in top startups receiving strategic investments and various business development support, including mentorship, networking, and access to markets. Krypto Labs is also involved in various R&D initiatives whereby it leverages on startups and entrepreneurs for developing cutting-edge innovation solutions. Krypto Labs also provides world-class innovation programs through strategic partnerships in corporate innovation and ecosystem development.
Krypto Labs is headquartered in the sustainable eco-development Masdar City in Abu Dhabi, United Arab Emirates.
For more information about Krypto Labs, please visit www.kryptolabs.com.
© Press Release 2020