iAccel GBI and NIN Forge Strategic Partnership for UAE’s Startup Ecosystem Acceleration
Dubai, UAE – 07 February, 2024 : In a significant move to boost the UAE’s startup ecosystem, iAccel Gulf Business Incubator (iAccel GBI) has officially entered into a partnership with the National Incubator Network (NIN), established by Sandooq Al Watan. The Memorandum of Understanding (MOU) was signed at the NIN Employment Open Day in Abu Dhabi, underscoring the shared commitment to empowering young Emirati entrepreneurs and driving national economic diversification.
The event, graced by His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, and Chairman of the Board of Directors of the Al Watan Fund, highlighted the imperative role of fostering innovation and entrepreneurship among the youth. In his opening speech, Sheikh Nahyan emphasized the importance of enabling the youth to initiate businesses and take leadership roles in various sectors.
Deepak Ahuja, CEO and Co-Founder of iAccel Gulf Business Incubator, expressed his enthusiasm about the partnership, “We are honored to partner with Sandooq Al Watan as we share the vision of the UAE government in fostering innovation and entrepreneurship. This partnership with NIN will be pivotal in shaping the startup landscape in the UAE. At iAccel GBI, we offer end-to-end launchpad support for startups that want to expand to the UAE- from setting up an entity and infrastructure support to access to investments, market access, and mentorship. We have a strong angel network of 300+ mentors, advisors, and investors from this region who support startups on their journey here. This partnership will enable us to work alongside some of the renowned government organizations and key stakeholders including the Ministry of Economy, Department of Economic Development, Abu Dhabi University, Sharjah Entrepreneurship Center, Intelak, and others in boosting UAE’s entrepreneurial ecosystem and solidifying its position as the hub for global expansion.”
The Employment Open Day saw the signing of collaboration agreements between the NIN and incubators in the UAE, marking the launch of the national network of business incubators. The event, attended by dignitaries, Emirati businessmen, investors, and over 500 job seekers, showcased the fund’s achievements and successful experiences of UAE’s youth.
Under the strategic agreement, iAccel GBI, alongside other partners, commits to fostering economic development in the UAE. The focus includes enhancing business practices, boosting competitiveness, developing small and medium enterprises, attracting investments, and promoting research, development, and innovation. The collaboration aims to strengthen national identity, empower Emiratis in the private sector, and invest in community projects for societal and economic benefit. This cooperation further aims to enhance national identity and promote innovation and Emiratis’ empowerment in the private sector and investment in community projects that benefit society and the economy.
iAccel GBI, founded in 2023 under the Hamdan Incubation Program has supported over 11 tech start-ups with funding, mentorship, and resources. Accordingly, this partnership positions iAccel GBI to collaborate with key stakeholders, including the Ministry of Economy, Department of Economic Development, Abu Dhabi University, Sharjah Entrepreneurship Center, Intelak, and others, to boost UAE’s entrepreneurial ecosystem and solidify its position as a global expansion hub.
About iAccel Gulf Business Incubator: iAccel Gulf Business Incubator LLC was launched in 2023 under the Hamdan Incubation program. Located in the Business Village building and spread across 3200 sq. ft., the incubator is a full-service ecosystem offering market access, access to funding, business advisory, mentorship, networking, and fundraising opportunities. The approach is built on the principles of thought leadership, advisory, and mentorship networks, which are essential to fostering success.