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AREA 2071 Concludes Two Global Accelerators Programs

An initiative of the Dubai Future Foundation, AREA 2071 has recently hosted 20 global startups to participate in two renowned global Accelerator Programs. Maha Al Mezaina, Head of AREA 2071, reiterated the essential role played by emerging companies in shaping key future sectors, due to their capacity in coping with the rapidly changing global needs and challenges.

Launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, AREA 2071 is an interactive platform that brings together the most innovative and creative minds, and stands as a testament to the UAE’s continuous efforts and vision to position the UAE as a global center for future technologies.

“AREA 2071 is a unique ecosystem that offers local, regional and global startups and emerging companies an innovative working space and embraces creative minds allowing them the opportunity to innovate, develop products and pilot projects, contribute to the economy and expand their success and growth,” Al Mezaina said.

Led by the world-class Techstars startup accelerator program and AI Venture Labs Accelerator Program in cooperation with Microsoft, AREA 2071 has hosted 20 global startups valued at over AED 42 million. Held over 13 weeks, the second edition of the Techstars startup accelerator program, in collaboration with GINCO Investments, hosted 10 companies from around the world focusing on developing innovative projects and solutions in areas of technology, IoT, construction, management, and other key areas.

The value of these companies is more than AED 24 million and include Buglance, a UAE-based crowd testing company that connects software testers with software development companies all over the world. It currently works with over 30,000 testers using thousands of devices.

Clara, a UAE-based SaaS platform that works in the field of automation and digitizing the legal structure of startups to ensure their startup’s venture-readiness and Element 16, a US-based company that improves energy efficiency at industrial processing facilities with heat storage technology.

LuggAgent, a Hong Kong-based global concierge that offers travelers’ services, and currently operates in 80 cities across the world and a Jordan based company, Nestrom, a cloud-based platform that enables data capture and actioning from field operations. Whether data is captured through digitized mobile forms or IoT sensors.

Ottogee, based in the US, provides IoT wearables for Industrial applications in Construction, Oil & Gas, Security, and Manufacturing. Ottogee advanced data analytics enable workers and stakeholders to have real-time insights that optimize safety and productivity and reduce the cost to unprecedented levels.

Three Wheels United is an India-based tech-enabled lender poised to become India’s leading financier for electric, income-generating assets in India. Veeplay is a Germany-based company that empowers media companies and video content owners to take control over their video strategy.

A California-based wellness app, Vivoo provides personalized nutrition and lifestyle advice to the users based on their weekly home tests. YACOB is a UAE-based SaaS POS platform that enables food tracking and online payments in closed food ecosystems. The platform currently processes 10,000 meals a day across 45 schools in the UAE.

The companies and startups participating in the AI Venture Labs program in partnership with Microsoft to accelerate AI startups are valued at over AED 18.4 million. These companies are working on innovative ideas that employ artificial intelligence, blockchain technology and machine learning in banking, healthcare, agriculture, oil and gas, energy and other crucial sectors.

These companies include BankBuddy, which helps banks and financial institutions with customer experience management, hyper-personalization, and operations automation. BankBuddy leverages NLP, machine learning, deep learning, Big Data, recommendation engine and computer vision to provide backend and channel agnostic intelligent and automated customer experience. WideBot uses advanced AI to build a prolific library of Arabic content that can be utilized by companies across industries to build smart chatbots.

Dhonor Healthtech, which aims to revolutionize healthcare verification by empowering patients and allowing verified direct delivery to patients. EnsoSoft uses their IoT based SolePlatform which utilizes intelligent analytics, edge computing, and machine learning to deliver real-time optimization, failure prediction, prescription, prevention and optimization solutions to clients in Oil & Gas, Supply Chain Management and Asset Management.

Flora, which aims to reinvent the traditional approach to agriculture practices by integrating AI, Machine Learning and IoT technologies with the use of industry knowledge of agriculture and aims to optimize the standards of local food production, safety, sustainability, and feasibility. Genr8, which aims to fight climate change and income inequality. Using AI and blockchain technology Genr8 is working to democratize access to green energy for all.

The accelerator program also includes Idem, a platform that eases the biggest hurdles for brands, organizations, and individuals by providing identity verification solutions using AI/ML and Blockchain with smart and simple user experience. Merit, provides a gift, reward and engagement strategies using innovative technologies in the MENA region including gift cards, e-cards, merchandise, employee/customer rewards, and online white label gift registry solutions with 400+ retailers and service providers across 60+ countries.

TachyHealth ignites the health insurance industry by tackling the complexity of the claim management process, making it more intelligent. TachyHealth also employs innovative computer vision technology to support and amplify the diagnostic value of medical imaging and radiology. Searchie, which aims to create diversity by reducing human bias in the recruitment, appraisal and promotion process.

AREA 2071 provides support to these companies by hosting them for several weeks and providing them with the necessary tools to develop their projects, and organizing workshops and interactive sessions with government and global experts. By offering the participants the opportunity to communicate with various federal and local government agencies in the region, AREA 2071 allows for greater prospects for sharing knowledge and benefiting from successful experiences and potentials.

It also provides them with an opportunity to learn and engage with other AREA 2071 initiatives such as, the Country in Residence Program, led by the Dubai Future Foundation, which aims to provide business, diplomatic and cultural delegations and investors exclusive access to UAE based opportunities. The program gives representatives from participating countries the opportunity to connect with government entities, international organizations, private sectors, startups, business leaders, scientists and experts in the region.

Estonia, South Korea, New Zealand, Latvia and most recently France have joined the program with the aim of knowledge transfer, sharing best practices and the adoption of innovative solutions and technologies that shape a better future. AREA 2071 serves as a gateway and a platform to design the future, through encouraging creativity, fostering talents as well as attracting local and global partnerships.

It is further designed to embody and support the delivery of the UAE Centennial 2071 plan. Both a physical and a digital space, AREA 2071 witnesses several partnerships, between individuals and organizations, to develop new ideas that focus on key challenges, in various sectors, such as aviation, education, energy, entrepreneurship, technology, health, and logistics.

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