The Abu Dhabi Investment Office and Microsoft welcomed 21 technology start-ups in the second edition of the jointly-run GrowthX Accelerator programme that aims to provide selected companies with access to the market and investors.
The new batch of start-ups will participate in a series of activities for 12 weeks. The activities will equip them with technical and technological knowledge to advance their business ideas, which aim to solve real-world challenges being faced by corporations in the region, Microsoft said on Tuesday.
The programme also aims to further drive Abu Dhabi’s position as a global hub for technology and entrepreneurship.
“Abu Dhabi has been a leader in leveraging advanced technology to generate sustainable economic impact,” said Mohamed Al Dhaheri, acting executive director of business enterprise at Adio.
“Key to our approach has been the empowerment of innovative tech start-ups that play an important role in accelerating innovation and boosting entrepreneurship.”
The UAE continues to support the start-up ecosystem with programmes and partnerships to boost the sector and encourage investments.
Start-ups in Hub71, the global technology ecosystem based in Abu Dhabi Global Market, secured Dh1.5 billion ($408 million) worth of investments, created 1,000 new jobs and posted revenue of about Dh1.2bn since the hub’s inception in 2019.
Abu Dhabi venture capital firm Shorooq Partners launched a $150m fund to support early-stage start-ups operating in the Middle East and North Africa and Pakistan region, while Abu Dhabi’s holding company ADQ and the Turkey Wealth Fund formed a new $300m technology fund.
Dubai, meanwhile, is home to almost 40 per cent of the Mena region’s scale-ups or companies with 10 or more employees, which have recorded average annual growth of at least 20 per cent over the past three years. The emirate also accounted for almost 57 per cent of the scale-up funding in the region last year, a report from the Dubai Chamber of Digital Economy said.
The GrowthX Accelerator is part of the Microsoft for Start-ups Middle East and Africa programme.
Microsoft said GrowthX will familiarise the participating start-ups in business practices including selling, hiring, fundraising, mentoring and community building, while taking part in marketplaces, talent partnerships, investor workshops, community connections and corporate pitches.
The new programme comes about two months after the first cohort concluded, and its success was a driving factor for the new cohort that aims to be “more hands-on and offers even more value”, said Roberto Croci, managing director of Microsoft for Start-ups.
“The 21 start-ups participating in this event will gain incredible knowledge from mentors in the programme that will not only help them scale their businesses, but drive real impact across the region,” he added.
Adio helps investors and companies establish, grow and develop their businesses in Abu Dhabi as part of its efforts to grow the capital’s private sector and diversify its economy.
An innovative, multilingual CEO with over 25 years’ experience leading organizations by providing exceptional business transformation services and cutting-edge solutions. Ability to create and establish robust strategic direction. Trusted advisor to partners in multinational corporations in petroleum and natural gas, chemical manufacturing, power and utility, and water and wastewater treatment industries. Proven leader with the ability to drive strategic short and long-term plans, shifting priorities, and delivering compelling collaboration skills that foster strong relationships with internal and external stakeholders. Influential in nature, with excellent presentation and communication skills.
Lane Sloan is a 30-year veteran of the oil and gas industry and comes from a long and distinguished career with Shell Oil. During his tenure, Mr. Sloan was a member of Shell’s senior management, and served at various times as general manager of products for finance, vice president of corporate planning, chief financial officer and VP Business Services, regional coordinator for Far East, director of East Zone Oil Products, and president of Shell Chemical Company.
After leaving Shell, Mr. Sloan joined SAIC, an IT and engineering consultancy headquartered in San Diego, California, as executive vice president in charge of energy activities. He was subsequently named CEO of SAIC’s joint venture with Halliburton in Grand Basin.
Mr. Sloan later became an executive professor at the University of Houston, where he taught leadership, corporate strategy, and energy courses. He also served as executive director of University of Houston’s Global Energy Management Institute. Today, he is a Silver Fox Advisor and president of Sloan Consulting Services, where he mentors entrepreneurial CEOs.
Mr. Sloan has a bachelor’s Degree in Business and a Master’s in Management Science, both from the University of Colorado. He also has a Master’s in Accounting and a Master of Business Administration from the University of Houston. He has co-authored Terra Incognita: A Navigation Aid for Energy Leaders and authored Develop a Leadership Plan: Become a Great Leader.
Mohammed was one of the founding members of the Digital Transformation Project Management office at Saudi Aramco, which oversees the key business initiatives under the company’s 4th Industrial Revolution program. A 20-year veteran of the IT industry, Mohammed started as a software developer delivering applications in knowledge management and systems integration. He earned his bachelor’s degree in computer science from Tulane University and his MBA from Strathclyde University.
Sufyaan has built management systems and environmental monitoring solutions for a variety of industries, including energy and security. He is a certified project manager (PMI) and an active member of the Institute of Electrical and Electronics Engineers (IEEE) and Building Industry Consulting Service International (BICSI), which supports the advancement of information and communications technology. Sufyaan earned a Bachelor of Engineering in electronics and instrumentation from Birla Institute of Technology & Science and a Master of Science in electrical engineering from George Mason University.
