Dubai Future Foundation (DFF) announced its hosting of Founder Institute global startup accelerator program in AREA 2071, for the first time at the regional level.
The initiative, within DFF’s framework for strengthening global partnerships, is aimed at providing opportunities for startups specialized in various technology sectors to develop their innovative projects and ideas and present them to the world, from Dubai.
The program seeks mainly to provide support to entrepreneurs and emerging companies through a global network that allows them to interact and work with international institutions, investment companies, applied laboratories, educational institutions and universities, in addition to a group of international experts, innovators, investors and decision-makers.
Founder Institute’s global startup accelerator program in Dubai is hosting 25 startups that will develop quality projects in 20 future sectors including Artificial Intelligence (AI), blockchain, digital currencies, educational, financial and legal technologies, Virtual Reality (VR), data science, sustainability and innovation management, among others. These companies, part of the inaugural cohort were selected after a comprehensive evaluation process from more than 300 applications from around the world.
Maha Al Mezaina, Head of AREA 2071, confirmed that the partnership with the Founder Institute represents a value addition to the Dubai Future Foundation’s portfolio of local and international accelerators and business incubators that have already been nurtured at AREA 2071. She noted that the synergy is testament to the Foundation’s pivotal role in supporting entrepreneurs and individuals with innovative ideas and enhancing their contribution to shaping the future.
She pointed out that AREA 2071 supports companies participating in the global startup accelerator program through hosting its activities and sessions, enabling them to benefit from the program’s services, providing access to multiple government and private sector entities in the UAE with the aim of exploring future opportunities and synergies, and explore ways to implement the innovative ideas proposed on ground.
From his side, Karan Deep, Director of Founder Institute Dubai, stated that this partnership goes a long way in strengthening the Dubai and regional entrepreneurship ecosystem and ensuring a pipeline of companies that can shape the future. He pointed out that the vision of Founder Institute is to empower communities of talented people to launch enduring and impactful technology-enabled companies, aligned to Dubai Future Foundation’s mandate.
Founder Institute’s program witnesses the participation of 32 entrepreneur representing 25 startups joining the program, mentors from across the world, startups investors, and CEOs of international and government organizations to support and assist the entrepreneurs participating in the program. Moreover, directing startups towards the most developed sectors, in a way that contributes to finding innovative solutions that meet the requirements of rapid global changes.
Through organizing a variety of virtual workshops and thought leadership sessions, the program offers participating startups a chance to exchange experiences, learn future-focused skills and integrate the latest global best practices in the innovation and emerging technology sectors. The first introductory session was hosted by three global experts: Maria Paula Oliveira, Chief Innovation Officer MENA at EY, Vera Futorjanski, Senior Advisor at LEAD Ventures, and Ketaki Sharma, Founder and CEO of Algorithm Research.
The Founder’s Institute, based in Silicon Valley, provides the largest accelerator program in the world and has presence in more 200 cities on various continents. Since 2009, it has supported more than 4,300 program members in raising financing facilities with a total value of more than $ 950 million to global business incubators such as (Y Combinator), (Techstars) and (Andreessen Horowitz) to support them in establishing new businesses and companies, developing products, prototypes and entering the world of entrepreneurship.
AREA 2071 was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, as one of the key pillars to achieving the goals of UAE Centennial 2071. The innovation ecosystem, located at Emirates Towers in Dubai, has been conceptualized as an ecosystem that hosts the headquarters of the world’s leading companies, services and labs, and works to design innovative solutions and tools to meet the requirements of tomorrow’s world.