Plug and Play is one of the most active venture capitalists in the world with more than 200 investments each year in innovative start-up companies.
Abu Dhabi is emerging as the regional powerhouse and the vibrant hub for tech entrepreneurs and venture capitalists, said Babak Ahmadzadeh, Managing Director of Plug and Play Abu Dhabi.
Plug and Play, a Silicon Valley-based global innovation platform with GCC headquarters based in the capital of the United Arab Emirates, strengthens regional growth by nurturing a tightly linked ecosystem, laying a solid foundation for a ambitious startup looking for the fastest and most profitable solution. , and a seamless journey to scale.
Ahmadzadeh said, “Abu Dhabi is doing so much to positively support the establishment, growth and attraction of tech startups in the UAE and the region. Above all, especially in the past two years, there is much more alignment and coordination of different initiatives and policies in the private and public sectors here in Abu Dhabi to enable the development of business, investment and talent for technology startups and scale-ups. “
Abu Dhabi is more connected within and far beyond the emirate. It is the essential longer-term component to enable these valuable collisions of bright minds, ideas and access to broader business and investment opportunities across industries, borders and stages of the journey. growth of a startup. Since its inception in 2006, startups in the independent venture capital arm of Plug and Play have raised more than $ 9 billion in funding, with more than a dozen successful unicorn wallet exits.
The Abu Dhabi office was launched in early 2018 to help the capital innovate in the FinTech sector and is currently continuing to develop the health sector.
Plug and Play is currently running its second HealthTech program with partner companies such as the Ministry of Health, Daman, UEMedical, Abu Dhabi Investment Office (ADIO), Digital Etisalat and Philips.
Ahmadzadeh said: “For example, let’s say you’re a founder of a fintech startup, headquartered in the UK and looking for regional growth opportunities. You have incredible local and regional B2B and B2C business channels to explore in Abu Dhabi and far beyond these borders. Items like the ADGM Digital Lab make it much easier to access and support your solution through potential regulatory hurdles. The resort fee is very competitive with many free zone, land and dual license options. Hub71, a beautiful co-working space and tech ecosystem facilitator on Al Maryah Island in Abu Dhabi, offers an incredible incentive package to offset business, residential and health insurance costs. Entities like ADIO can also help your spending and investments in the country go further with their discounts to further catalyze your innovation efforts.
In February 2021, the Hub71 startup community crossed the 100 mark after opening less than two years ago with annual growth of 191%. Abu Dhabi Holding’s launch of DisruptAD in March 2021 is a bold new initiative to support more than 1,000 startups over the next five years through investments, incubators, accelerators and more. Last year, the Abu Dhabi global market increased its number of registered licenses to 3,211, with assets under management totaling $ 85 billion, a 193 percent year-over-year increase.
The HCT Startup Development Program has created 108 startups and hired 2,316 students since its launch in 2019. Last month, ADIO and the Abu Dhabi Early Years Authority announced a partnership that will support startups developing technologies to meet the challenges of the next generation. ADIO is providing 15 million dirhams over three years to fund ECA’s Anjal Z program which aims to mainstream innovation in Abu Dhabi’s education sector.
“The United Arab Emirates have just announced the Golden Visa program for 100,000 global coders inviting technological talents to live, prosper and create value in the country. Along with Expo 2020, Dubai invites the world to experience life in the United Arab Emirates with the aim of attracting additional talent from around the world to live in the United Arab Emirates. These new initiatives will attract foreign investors and talent and are expected to generate additional value for existing businesses in the UAE. In turn, this will generate new opportunities for aspiring entrepreneurs to launch innovative businesses in several key sectors such as healthcare, supply chain, finance, real estate and others, ”Ahmadzadeh added.
“In the short term, we expect to see an increase in the total funds raised for startups at all stages and a significant increase in late stage / growth funding for existing startups in the MENA region. We just saw Softbank make its first investment in the United Arab Emirates as part of a $ 415 million funding round and growing interest from global Tier 1 VC firms to invest in the region. “
Plug and Play is one of the most active venture capitalists in the world with more than 200 investments each year in innovative start-up companies.
“We are always looking for new opportunities to invest in start-ups across the region. We are often looking for ambitious founders targeting global issues. We prioritize founders and take a deep look at the founders’ past experience and ability to communicate their strategies clearly and effectively. A key indicator is that our founders understand their strategy of early customer acquisition and are able to implement their vision, ”said Ahmadzadeh.
“We invest in ready-to-produce companies up to the Series A stage and prefer to see some form of early traction, but we have also invested in pre-returned companies across the region. We are industry independent and aim to support our portfolio companies in their international expansion once they start looking for opportunities outside of their home market. – [email protected]
