Apply Now to startAD’s AI Venture Launchpad

ArabNet Team, Jul 02 2018

startAD, the innovation and entrepreneurship platform anchored at NYU Abu Dhabi, has opened applications for its inaugural Artificial Intelligence (AI) Venture Launchpad.

The AI Venture Launchpad, a 10-day sprint accelerator open to seed stage AI and Internet of Things (IoT) startups from the UAE and around the globe, helps participants develop a scalable, repeatable, and capital efficient venture.

NYU Abu Dhabi Research Professor of Engineering, Vice Provost for Innovation and Entrepreneurship, and startAD Managing Director, Ramesh Jagannathan, said, “The UAE, home to significant global industries such as aviation, energy, shipping, transportation, and finance, has a distinct opportunity to be at the forefront of AI growth. Disruptive Innovation creates products and services for which the market does not yet exist. AI and machine learning, in addition to disrupting the market, are unsettling the way our society would live with the onset of the second machine age.”

Teams disrupting industries in financial technology (FinTech), insurance technology (InsurTech), regulatory technology (RegTech), airport operations, predictive maintenance, fuel efficiency, and enterprise solutions through AI with Natural Language Processing (NLP), Machine Learning, Predictive Analytics, Search, and Data Analytics are encouraged to apply.

 This accelerator provides global startups with the opportunity to enter the UAE market and attract potential investments from key players in the region.

Launching on September 30, the program is held in partnership with Etihad Aviation Group, a diversified global aviation and travel; UAE Exchange, the leading global Money Transfer, Foreign Exchange and payment solutions brand; and Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi. 

Chief Executive Officer of Etihad Airways, Peter Baumgartner, mentioned, “The aviation industry has relied on various forms of AI for decades, but with recent advancements in computing power, its potential to add value across the sector is unprecedented.  Combined with big data and machine learning, AI could be used to increase flight path efficiency by reading wind forecasts, optimize aircraft maintenance, and enhance airport operations, to name just a few examples. This is our second time taking part in startAD’s Venture Launchpad programme, and we look forward to working with startups to explore innovative applications of AI in the aviation and travel space.”

The AI Venture Launchpad will entail a series of training and mentorship sessions, investor roundtables, pitches, interviews, local customer discovery, and validation activities. Startups will also be trained to develop robust go-to-market strategies. Selected teams are required to attend the full duration of the accelerator.

Executive Director for Capital Markets of the Financial Services Regulatory Authority of ADGM, Wai Lum Kwok, stated, “As an International Financial Centre and FinTech eco-system builder, we are pleased to partner with NYU Abu Dhabi and fellow Abu Dhabi champions in incubating entrepreneurial ideas and supporting early-stage startups in Abu Dhabi and the wider UAE.  The Venture Launchpad initiative dovetails well with ADGM’s innovation platforms and ongoing efforts to support the needs of the business community through digital innovation, and to promote growth, inclusion and efficiency in the financial services industry.”

Executive Director of Finablr and Chief Executive Officer of UAE Exchange Group, Promoth Manghat, said, "As a startAD industry partner, we are glad to be a key collaborator for the Artificial Intelligence Venture Launchpad. It is fascinating to see how rapidly AI has evolved and matured, with its application and benefits now cutting across industries and functional domains. As an early adopter, we are already leveraging AI and Machine Learning Solutions to enhance customer experience and to automate back office operations. In line with our vision of fostering technology-driven innovative solutions, we believe this inaugural AI accelerator programme will take the lead in stimulating innovation in AI in the region."

Teams have until August 30 to apply through startAD’s website where 15 to 20 startups will be chosen to participate in the accelerator.

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