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February 22, 2024

iAccel GBI, National Incubator Network collaborate to boost UAE startup ecosystem

iAccel Gulf Business Incubator (iAccel GBI) has signed a Memorandum of Understanding (MoU) with the National Incubator Network (NIN), established by Sandooq Al Watan, in a significant move to boost the UAE’s startup ecosystem.

The 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 added that, “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 startups 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.