• Six teams will have the opportunity to work with global experts and corporate partners, win a grant worth AED 10,000 from KFED, and be considered for further funding upon completion of the program

Abu Dhabi: startAD, the Abu Dhabi based global accelerator powered by Tamkeen and anchored at NYU Abu Dhabi, in collaboration with Khalifa Fund for Enterprise Development (KFED), has opened applications for Ibtikari 5.0, an intensive five-month incubation program aimed at helping UAE nationals advance their tech startups. Registration is available here and the deadline to apply is September 5, 2019.

The program will commence on September 22, 2019 and conclude during UAE Innovation Month in February 2020. Six finalists will receive grants from KFED worth AED 10,000, whereas one team will win a grant of AED 25,000. Startups will also potentially be considered for further funding by KFED and startAD.

To qualify, startups must be technology-enabled and have early traction in the market with existing customers, pilot projects, or partnerships with stakeholders. In addition, the founding team should have at least one UAE national and a minimum of two fully committed team members.

Ibtikari will train participants to scale their businesses, secure pilot projects with local corporations, and become investment-ready. The program will include a five-day bootcamp in September and a two-day bootcamp in November.

Six out of the twelve teams will then be accepted into the incubation program, which will comprise a series of customized training sessions, workshops, and one-on-one meetings with Ibtikari mentors. The program will also facilitate introductions to key corporate partners, prospective clients, and experts in the industry locally and globally to help startups expand their networks and advance their businesses.

Acting Chief Executive Officer at Khalifa Fund Mouza Al Nasri said: “Ibtikari was launched to foster an entrepreneurial spirit among our nationals, build a thriving entrepreneurial environment in the UAE, and fast-track the country’s economic diversification efforts. Since its launch, it has helped nurture the dreams of our many aspiring local entrepreneurs and has paved the way for the enhancement of various innovative business projects. We are proud of the past accomplishments of Ibtikari, and we hope to continue its outstanding success this year. With excitement, we look forward to meeting our next batch of participants and hearing how their contemporary business ideas can bolster the nation’s socio-economic development in today’s digital age.”

Vice Provost for Innovation and Entrepreneurship at NYUAD and Managing Director of startAD Ramesh Jagannathan commented: “Nations that nurture a culture of innovation and entrepreneurship have seen a rapid growth in job creation, technological advancement, and wealth. We have designed Ibtikari to support Emirati entrepreneurs to launch and scale businesses that will have local and global impact. Successful technology startups founded by UAE nationals will help accelerate the growth of the economy into an entrepreneurial one, and strengthen the UAE’s role in the future of the global economy.”

Ibtikari received over a hundred applications last year; notable alumni include Malena App, DirectSchool, Homz, and Meet the Locals.

-ENDS-

About Khalifa Fund for Enterprise Development

Established in 2007, the Khalifa Fund for Enterprise Development (KFED) is an independent non-profit socio-economic development agency of the Government of Abu Dhabi involved in supporting small and medium enterprises (SMEs). Khalifa Fund has become one of the leading institutions that promote an entrepreneurial culture and help SMEs in Abu Dhabi and the UAE. The Fund aims to enhance leadership skills among Emiratis and build an environment that encourages innovation and creativity which will positively impact the UAE economy. It has funded more than 1,600 projects within the UAE and delivered its successful experience to more than 20 countries in Asia, Africa and Europe through pioneering technical and funding programs.

About startAD
startAD is an Abu Dhabi-based global accelerator steering seed-stage technology startups to launch, develop, and scale their ventures. Anchored at NYU Abu Dhabi and powered by its partner Tamkeen, the accelerator equips startups to pilot solutions with industry leaders, while enabling corporates to innovate with startups disrupting their core businesses.

 startAD has the unique domain expertise and state-of-the-art facilities to develop startups with a focus on hardware and AI, as well as other solutions in priority industries including aviation, energy, sustainability, construction, and security. Enrolled startups benefit from startAD’s extensive range of programs and global network of investors, mentors, and experts, in addition to access to startAD’s seed fund for local startups. Since startAD’s launch in 2016, participating startups have raised $8 million in investment, secured numerous pilot projects, and have been recognized with global design and product awards.

About Tamkeen
Tamkeen is a company that delivers projects to meet Abu Dhabi’s vision of knowledge-based development. This is achieved by collaborating with a variety of local and international institutions to enrich Abu Dhabi’s social, cultural and educational landscape in line with its Economic Vision 2030.

About NYU Abu Dhabi
NYU Abu Dhabi is the first comprehensive liberal arts and science campus in the Middle East to be operated abroad by a major American research university. NYU Abu Dhabi has integrated a highly-selective liberal arts, engineering and science curriculum with a world center for advanced research and scholarship enabling its students to succeed in an increasingly interdependent world and advance cooperation and progress on humanity’s shared challenges. NYU Abu Dhabi’s high-achieving students have come from 120 nations and speak over 120 languages. Together, NYU's campuses in New York, Abu Dhabi, and Shanghai form the backbone of a unique global university, giving faculty and students opportunities to experience varied learning environments and immersion in other cultures at one or more of the numerous study-abroad sites NYU maintains on six continents.

© Press Release 2019

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