ABU DHABI, United Arab Emirates: Microsoft for Startups Middle East, in partnership with the Abu Dhabi Investment Office (ADIO), today graduated the latest tech startups from the GrowthX Accelerator program. The cohort’s conclusion was celebrated at a Demo Day event held at Abu Dhabi’s financial center, Abu Dhabi Global Markets (ADGM), to bring together startup founders, government officials, investors, business leaders and the region’s entrepreneurial ecosystem. of stakeholders participated.
Executed as part of a strategic partnership between ADIO and Microsoft for Startups, GrowthX is specifically designed to enable growth-stage B2B startups, primarily from seed to series A stage, to grow and scale in Abu Dhabi. increase. The program offers weekly sessions by Microsoft experts as well as regional and global leaders in business and technology. His 12 startups in this cohort hail from the Middle East, Turkey and Pakistan, developing solutions for E-commerce, EdTech, Fintech, HRtech and Insurtech. Companies in this cohort are Fortyguard, Ilmversity, Klickit, MonSpark, Pisano, Poilabs, Raabtaa, Supercommerce, Vita Virtues, Xina AI, Edraak Systems, and Pay Caps.
Abdulla Abdul Aziz AlShamsi, Acting Executive Director of ADIO, said: GrowthX Accelerator is a proven platform that identifies and empowers innovative start-ups to achieve scale and impact. We congratulate all the graduates who have completed this program and look forward to seeing how they will use the tools they have gained to accelerate their growth and strengthen the local startup environment. ”
Naim Yazbeck, General Manager, Microsoft United Arab Emirates, said: They take every opportunity to maximize the potential of their products, enhance their skill sets, and utilize available support and resources to help their businesses grow and scale. Together with ADIO, we are proud to have empowered another incredible cohort of startups to showcase their innovative ideas, strengthen the local ecosystem and develop them into real-world solutions that advance the digital economy. increase. ”
Investment in technology start-ups in the United Arab Emirates and the Middle East continues to grow exponentially as demand for new, creative and innovative products and solutions continues to grow. In this past year, MENA’s venture capital funding has reached $2.6 billion, up 138% from 2020, according to MAGNiTT. The UAE start-up will account for 26% of all deals closed across MENA in 2021 and 45% of all funding raised across the region.
The GrowthX Accelerator helps startups develop products and open up new opportunities for success. This 10-week program offers a variety of group and his one-on-one virtual sessions and training on enterprise sales, technical readiness, investor readiness, and customer engagement tactics. Participating start-ups will also work closely with Microsoft to co-create technology her solutions that address real-world challenges facing local organizations, and receive support from local partners, including legal support from Clara. Get support.
After the program ends, the start-up will work closely with GrowthX program partner Masdar City to help a cohort of graduates obtain business licenses and establish operations in Abu Dhabi. Masdar City Free Zone is home to over 1,000 of his companies, including education, R&D, technology start-ups, incubators and corporations that benefit from Masdar City’s unique ecosystem.
Including recently signed cohorts, the GrowthX Accelerator has graduated a total of 48 startups since its launch in 2021. Click here for more information on the Microsoft for Startups GrowthX Accelerator program.
Microsoft (Nasdaq “MSFT” @microsoft) enables digital transformation in the era of the intelligent cloud and intelligent edge. Its mission is to enable every individual and every organization on the planet to achieve more. Microsoft opened its headquarters in Dubai in 1991 and today oversees operations across the region.
Further information (press only):
Magdalena Stepien, Microsoft UAE
E: [email protected]
Hussein Gandhi, Pro Global Media
E: [email protected]