Dubai – The University of Dubai and Krypto Labs have announced the launch of an innovation hub open for students, alumni, professors, and the community to develop their entrepreneurial skills and catalyze the growth of startups from within the university campus.
The innovation hub aims to grow the next generation of all-rounded leaders who are equipped with the transferable skills for the 21st century, and who are capable of strengthening the UAE's global position for rising technologies in line with the UAE Strategy for the Fourth Industrial Revolution (4IR).
In accordance with its vision, the hub also seeks to promote entrepreneurship within the student community by having an on-site center that offers students with the facilities and support they need to build scalable and groundbreaking startups. Krypto Labs will operate the innovation hub, provide one-on-one mentorship for aspiring startups, and conduct innovation and entrepreneurship programs, including workshops on technology, business strategy, and more, in efforts to contribute to fostering a knowledge-based economy.
Dr. Eesa Bastaki, President of the University of Dubai, congratulated the team behind this successful event and said, “The University of Dubai is determined to give its community an investment opportunity in innovation, business and entrepreneurship.” He emphasized, “No nation can rise without innovation and advanced technology.”
Professor Wathiq Mansour, Director of Entrepreneurship and Innovation FZ at the University of Dubai (UD) commented, “The launching of the Krypto Labs Innovation Hub at UD campus is another great opportunity for our students and stakeholders to experience innovation and lead entrepreneurship programs in Dubai and UAE.” He added, “This hub will connect innovators with investors and build-up a real business incubation for our students who are determined to contribute to this great country by inventing locally and selling globally.”
Dr. Saleh Al Hashemi, Managing Director of Krypto Labs, highlighted the importance of innovation hubs to operate from academic spaces, stressing that education is the core of a knowledge-based society. He noted, “The role of academia in our transition towards an ideation-based and knowledge-based society cannot be undermined. Recognizing this, we are delighted to partner with the University of Dubai and operate on-campus, to empower students and encourage entrepreneurship amongst youth, in alignment with the UAE Vision 2021 and the UAE Centennial 2071 Plan.”
He added, “One of the pillars of the UAE Vision 2021 calls for fostering a competitive knowledge economy, and the youth carry the potential to build solutions that can multiply its impact on a large scale. Our role is to facilitate this and provide young entrepreneurs with the support they need to transform their original ideas into real scalable solutions.”
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