Abu Dhabi startups to get funding and tech support from ADIO-Microsoft alliance
Source: Gulf News
In alliance with Microsoft, the Abu Dhabi Investment Office (ADIO) will offer owners of local startups the resources and tools to “scale their businesses”. Another tech entity, Plug & Play, is also part of this initiative.
“The partnerships are part of ADIO’s commitment to supporting innovation-focused companies,” said Dr. Tariq Bin Hendi, Director-General of ADIO. “We are providing strategic funding and support to the knowledge and tech experts to develop and run programmes that accelerate opportunities in Abu Dhabi for startups.”
Microsoft will bring its Startups Programme, which provides technology, Azure cloud services, and business support tools to develop the required skillsets. The first two are the Growth X Accelerator, a virtual accelerator programme with a focus on recruiting local and regional startups, and ‘Highway to 100 Unicorns’, an initiative to recruit high-potential startups for the Accelerator as well as future programmes by Microsoft and ADIO.
Further initiatives focused on entrepreneurship for Emiratis and UAE residents, as well as university students, are in the works.
As the global economy looks to the future, Abu Dhabi’s ecosystem is well-positioned as the region’s foremost investment destination for big thinkers to realise their ambitions
Dr. Tariq Bin Hendi of ADIO said: “We are committed to deepening our support for investors and innovators in 2021,” said Bin Hendi. “As the global economy looks to the future, Abu Dhabi’s ecosystem is well-positioned as the region’s foremost investment destination for big thinkers to realise their ambitions.”
Plug and Play is a platform that brings together top startups and leading corporations and government entities. It currently runs accelerator programmes in the Middle East from Abu Dhabi Global Market (ADGM).Since 2017, the partnership between Plug and Play and ADGM has provided local startups with expertise from overseas players.