• Monday June 17th, 2019

AREA 2071 hosts 20 global startups worth AED42.2 mln

An initiative of the Dubai Future Foundation, AREA 2071 has recently hosted 20 global startups valued AED42.2 million to participate in two renowned global Accelerator Programmes.

Maha Al Mezaina, Head of AREA 2071, reiterated the essential role played by emerging companies in shaping key future sectors, due to their capacity in coping with the rapidly changing global needs and challenges.

Launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, AREA 2071 is an interactive platform that brings together the most innovative and creative minds, and stands as a testament to the UAE’s continuous efforts and vision to position the UAE as a global centre for future technologies.

“AREA 2071 is a unique ecosystem that offers local, regional and global startups and emerging companies an innovative working space and embraces creative minds allowing them the opportunity to innovate, develop products and pilot projects, contribute to the economy and expand their success and growth,” Al Mezaina said.

The AREA 2071 hosted 20 global startups, led by the world-class Techstars startup accelerator programme and AI Venture Labs Accelerator Programme, in cooperation with Microsoft.
Held over 13 weeks, the second edition of the Techstars startup accelerator programme, in collaboration with GINCO Investments, hosted 10 companies from around the world focusing on developing innovative projects and solutions in areas of technology, IoT, construction, management and other key areas.

The value of the companies under Techstarts Accelerator Programme is estimated more than AED24 million. Similarly, the companies and startups participating in the AI Venture Labs programme in partnership with Microsoft to accelerate AI startups are valued at over AED18.4 million.

AREA 2071 provides support to these companies by hosting them for several weeks and providing them with the necessary tools to develop their projects, and organising workshops and interactive sessions with government and global experts.

Other AREA 2071 initiatives such as, the Country in Residence Programme, led by the Dubai Future Foundation, aims to provide business, diplomatic and cultural delegations and investors exclusive access to UAE based opportunities. The programme gives representatives from participating countries the opportunity to connect with government entities, international organisations, private sectors, startups, business leaders, scientists and experts in the region.

Estonia, South Korea, New Zealand, Latvia and most recently France have joined the programme with the aim of knowledge transfer, sharing best practices and the adoption of innovative solutions and technologies that shape a better future.

AREA 2071 serves as a gateway and a platform to design the future, through encouraging creativity, fostering talents as well as attracting local and global partnerships. It is further designed to embody and support the delivery of the UAE Centennial 2071 plan.