ADGM Partners UAE University to Launch Startup Accelerator Hubby Fintechnews Middle East 2. March 2021
The Abu Dhabi Global Market‘s Registration Authority (ADGM RA) and United Arab Emirates University (UAEU) represented by UAEU Science and Innovation Park (UAEU SIP) will collaborate to develop the UAE’s entrepreneurial ecosystem.
ADGM RA and UAEU SIP entered into a Memorandum of Understanding (MoU) will collaborate to establish an accelerator programme within ADGM that will welcome startups fostered and grown under the umbrella of the latter.
Both entities will work alongside one another to develop co-branded initiatives and engage in the exchange of insights to develop growth opportunities for entrepreneurs across the UAE.
Additionally, this will enable UAEU SIP’s partners and enrolled entities to apply for a license at ADGM.
Both the ADGM RA and UAEU will also provide access to their respective ecosystems, as well as any industry events hosted by the other party.
Dhaher bin Dhaher Al Mheiri, CEO of the ADGM Registration Authority said,
“ADGM’s work in this field is expansive, covering multiple engagements, such as its partnership with Plug and Play, its role in the launch of Hub71, as well as flagship initiatives that aim to scout and nurture the next generation of entrepreneurs, such as Fintech Abu Dhabi.
Our efforts will aim to contribute to the UAE’s thriving startup ecosystem, which features a number of initiatives pioneered by ADGM’s partners, including Mubadala, the Abu Dhabi Investment Office, the Abu Dhabi Investment Authority and the Department of Health.”
Prof. Nihel Chabrak, CEO of the UAEU Science and Innovation Park said:
“The UAEU Science and Innovation Park will play a major role in this new ecosystem by creating a pipeline of talent, and growing and attracting new knowledge-intensive businesses, which in turn will support creating new jobs and learning opportunities for students, and new R&D projects for faculty and researchers.
Through its tenants’ support program, the UAEU SIP will also allow cross-fertilization between the innovation champions connected to the Park and ADGM and will create spillover effects to support economic diversification in the strategic areas set in the Emirate and the country vision.”