The Cribb Launches Corporate Ventures Programs
Dubai-based incubator, The Cribb, has marked its third anniversary. The company celebrated its achievements at its headquarters in Al Quoz, Dubai with over 100 startups and corporates representatives attending the event.
Started in 2013 by Kamal Hassan, The Cribb is a space where innovators and creative minds can get together and enrich the startup ecosystem in the region. The Cribb has so far incubated over 200 startups and has recently launched The Cribb Academy, its in-house training courses for the region’s most promising entrepreneurs, intrapreneurs and corporates.
In the last three years of operation, the incubator has forayed into corporate venturing and launched the incubator 2.0. The Cribb will now embark on a journey to introduce corporates to the startup ecosystem in the region and vice-versa to strengthen it further.
Kamal Hassan said, “This year, we have seen a revenue growth of 48% (YOY) and with recent developments in the space we are looking forward to exciting times ahead. After the launch of the Cribb Academy, we are looking forward to scale up in corporate venture programs, which will help create visibility and culture, co-development and venture in businesses.”
The celebrations had a series of events around corporate venturing – which is where an organization buys an equity stake or enters in a joint venture with an innovative startup to gain competitive advantage – and its impact on private and government organizations. The event started with experts Riyadh Al Ruwais, Partner at STC Ventures, and Wai Lum Kwok, Executive Director of Capital Markets Financial Services Regulatory Authority, Abu Dhabi Global Market (ADGM), delivering keynote speeches.
The event concluded with a thought leader panel discussion around the role of corporate ventures in the startup ecosystem, the importance of corporate venturing for companies. Samir Moftah, Future Innovation R&D Leaders and Lynne McColl, Future Innovation Leader at MARS were also seen as part of the panelists.
Corporate venturing by The Cribb will offer visibility and culture, co-development and venture programs for innovative companies in the region and will bridge the gap between startups and corporates looking for innovation.
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