Thu 11-01-2018 21:52 PM
ABU DHABI, 11th January 2018 (WAM) - Krypto Labs has been named as the Strategic Partner for the Climate Innovation Exchange (CLIX) at the World Future Energy Summit 2018, organisers of the event announced today. As the strategic partner for CLIX, Krypto Labs will highlight its facilities and services available to innovators and start-ups, as well as forming part of the judging panel, between January 15 – 18.
With the UAE being home to 42% of the region’s 3,000 start-ups, the partnership between Krypto Labs and CLIX will bolster the growing entrepreneurial and innovation landscape in Abu Dhabi and the UAE.
Based in Masdar City, Abu Dhabi, Krypto Labs is a global incubator with a unique ecosystem for funding ground-breaking early stage start-ups. Krypto Labs provides innovators and entrepreneurs from around the world with a virtual program, investment platform and inspiring co-working spaces across 2,600 square metres, allowing them to develop revolutionary products and services across all industries.
The inaugural edition of CLIX, which functions as a global marketplace for innovators and investors, received a total of 364 submissions from individuals and groups requiring funding to develop or roll-out clean tech products and climate change solutions.
CLIX submissions concentrate on solutions in agriculture, clean mobility and air quality, with funding proposals received from around the world. One in five semi-finalists are based in the UAE and stand to receive incubation from Krypto Labs, which is also a potential investor.
Dr. Saleh Al Hashemi, Managing Director of Krypto Labs, said: "We are pleased to be a strategic partner of CLIX, as part of Abu Dhabi Sustainability Week. We look forward to integrating our expertise with CLIX's vision of creating a market-place connecting future innovators and investors to foster innovative climate change solutions through knowledge, innovation and funding."
Dr. Al Hashemi added: "At Krypto Labs, we pride ourselves on being a global incubator with a unique ecosystem for funding and accelerating ground-breaking early-stage start-ups. We endeavour to become a pioneer in supporting sustainable clean energy start-ups."
Ara Fernezian, Group Managing Director at Reed Exhibitions, organisers of CLIX, said: "Krypto Labs is a global incubator that is perfectly suited to be the Strategic Partner for CLIX, and represents the growing local interest in start-ups and entrepreneurial business models, as well as clean tech and climate change. CLIX is a ground-breaking initiative for the region that will facilitate the development and distribution of game-changing technologies and products."
Semi-finalists at CLIX will be pitching for potential investment sums ranging from $300,000 to more than $2.5 million, according to the specific criteria and categories.
Hosted by Ministry of Climate Change CLIX is held in collaboration with Masdar, the Ministry of Youth Affairs, Nawah Energy and the Department of Transport – Abu Dhabi. CLIX is a World Future Energy Summit initiative that will be held during Abu Dhabi Sustainability Week between January 15 – 18 at the Abu Dhabi National Exhibition Centre.