Microsoft for Startups Center East, in partnership with the Abu Dhabi Funding Workplace (ADIO), as we speak graduated the most recent cohort of tech startups from its GrowthX Accelerator program. The conclusion of the cohort was celebrated throughout a Demo Day occasion, hosted at Abu Dhabi’s monetary centre, Abu Dhabi International Market (ADGM), with attendees together with startup founders, authorities officers, buyers, enterprise leaders and stakeholders from the regional entrepreneurship ecosystem.
Run as a part of a strategic partnership between ADIO and Microsoft for Startups, GrowthX is particularly designed to empower growth-stage B2B startups ranging primarily from Seed to Collection A levels to develop and scale in Abu Dhabi. This system options weekly classes from Microsoft consultants, in addition to regional and world leaders in enterprise and expertise. The 12 startups on this cohort hail from throughout the Center East, Turkey and Pakistan, and are creating options in E-commerce, EdTech, Fintech, HRtech, and Insurtech. The businesses on this cohort are Fortyguard, Ilmversity, Klickit, MonSpark, Pisano, Poilabs, Raabtaa, Supercommerce, Vita Virtues, Xina AI, Edraak Programs, and Pay Caps.
Eng. Abdulla Abdul Aziz AlShamsi, Performing Director Common at ADIO, stated, “The speedy tempo of digital transformation is a chance to repeatedly discover new technological options to world challenges. The GrowthX Accelerator is a confirmed platform to determine and empower progressive startups to realize scale and influence. We congratulate all of the graduates on finishing this program and sit up for seeing how they leverage the instruments gained to speed up their development and improve the regional startup panorama.”
Naim Yazbeck, Common Supervisor, Microsoft UAE, stated, “It has been each inspiring and inspiring to witness the expansion and growth of every of the startups enrolled into this cohort. They’ve leveraged each alternative to maximise the potential of their choices, improve their skillsets and embrace the help and assets obtainable to empower them to develop and scale their companies. Along with ADIO, we’re proud to have empowered one other unimaginable cohort of startups to showcase their progressive concepts and develop them into real-world options, that may strengthen the regional ecosystem and develop our digital financial system.”
Funding in tech startups throughout the UAE and the Center East continues to develop exponentially as demand for brand spanking new, inventive, and progressive merchandise and options continues to rise. Over the previous yr, enterprise capital funding in MENA reached $2.6 billion, 138% greater than in 2020, in keeping with MAGNiTT. Startups within the UAE accounted for 26% of all offers closed throughout MENA and 45% of all funding raised throughout the area in 2021.
The GrowthX Accelerator helps startups develop their choices and unlock new alternatives for fulfillment. The ten-week program presents quite a lot of group and one-on-one digital classes and coaching on enterprise gross sales, technical readiness, investor readiness, and buyer engagement techniques. Taking part startups additionally work carefully with Microsoft to co-create expertise options that tackle actual challenges dealing with organizations within the area, and obtain help from regional companions together with authorized help from Clara.
Following the conclusion of this system, the startups can even work carefully with Masdar Metropolis, a GrowthX program companion, who will help the graduating cohort in acquiring enterprise licences and set up operations in Abu Dhabi. The Masdar Metropolis Free Zone hosts greater than 1,000 firms that profit from town’s distinctive ecosystem of schooling, R&D, expertise startups, incubators, and corporates.
Together with the lately concluded cohort, the GrowthX Accelerator has graduated a complete of 48 startups since its inception in 2021. To be taught extra concerning the Microsoft for Startups GrowthX Accelerator program, click on right here.
