Written by Arabian Business
Abu Dhabi developer picks German, Finnish and British firms to participate in Aldar Scale Up accelerator programme. Aldar Scale-Up Programme is the latest effort by Aldar Properties to support innovation in the real estate industry.
Aldar Properties has selected three PropTech start-ups as part of the inaugural accelerator programme, which aims to provide a gateway for international businesses with the latest cutting-edge real estate technology to enter and set up in the UAE.
Selected start-ups will benefit from growth opportunities through pilot projects with Aldar and other leading industry players in the region.
The Scale-Up accelerator programme was created in partnership with startAD, the Abu Dhabi-based accelerator, powered by Tamkeen and anchored at NYU Abu Dhabi.
The first edition of Aldar Scale Up was launched in February and received more than 200 applications from 31 countries, with nine start-ups accepted to take part in curated virtual training sessions, work with dedicated mentors, and connect with Aldar business units.
Three emerging PropTech businesses have now been awarded pilot projects with Aldar, while the remaining ventures will continue to engage with Aldar on future projects.
The businesses selected for pilot projects include Envio, a German start-up, GBuilder, a company based in Finland and Metrikus, a UK-based start-up.
All selected start-ups have also been shortlisted to join Hub71 (pictured above), Abu Dhabi’s global tech ecosystem, which offers incentives and access to corporate and government partners.
Maan Al Awlaqi, executive director, Strategy and Transformation, Aldar Properties, said: “The global start-up market has led the charge towards innovation and technological development in recent years and we are now seeing the ramp-up of investment activity in the Middle East.
“In 2020 alone, more than one billion dollars was invested in start-ups within the MENA region… The UAE, in particular, has been at the forefront of this boom, accounting for one-fourth of all start-up transactions in the region.
“Aldar Scale Up programme has been instrumental in enabling us to tap into the global PropTech startup market and harness the latest innovative concepts to enhance our competitiveness. We congratulate all those who participated in this programme on their excellent concepts, which will undoubtedly drive positive change in the industry.”
Aldar Scale-Up Programme is the latest effort by Aldar Properties to support innovation in the real estate industry. Other initiatives in recent years include Manassah, a six-month entrepreneurship incubator aimed at nurturing entrepreneurial talent and advancing homegrown retail concepts in the GCC.
Written by Arabian Business