Fri 15-07-2022 14:45 PM
ABU DHABI, 15th July, 2022 (WAM) -- startAD, the Abu Dhabi-based start-up accelerator powered by Tamkeen and anchored at NYU Abu Dhabi (NYUAD), has announced that applications are now welcome for the ninth edition of its Corporate Sprint Accelerator (CSA 9).
In partnership with Ripple’s University Blockchain Research Initiative (UBRI), the three-week market access accelerator will enable global start-ups to bring cutting-edge FinTech innovation to the UAE. Accepted start-ups will be sponsored to travel to the UAE and showcase their ventures at GITEX, the region’s largest tech trade show from 10th to 14th October, 2022.
The engagement will include training, networking, brand building, and one-on-one meetings with prominent investors, media, and sought-after members of the region’s start-up ecosystem. In addition, participants will have the opportunity to win the prestigious XRPL grant to work on solutions for the open source, decentralised and permissionless public blockchain - worth US$25,000, through a fast-tracked application process.
Commenting on the ninth edition of startAD’s CSA, startAD Managing Director, and NYU Abu Dhabi Research Professor of Engineering, Ramesh Jagannathan said, "CSA 9 offers the most cutting-edge fintech start-ups a platform to put their best foot forward in the GCC, by opening doors to business deals and partnerships with leading local corporations, preparing start-ups for the region’s regulatory framework, providing access to investment opportunities, and building their network in the global financial services and start-up ecosystem. Partners such as Ripple’s University Blockchain Research Institute are building a valuable pathway for innovative start-ups to disrupt the global market from Abu Dhabi.
"In partnership with startAD, Ripple is excited to support fintech start-ups leveraging blockchain and crypto to develop new use cases and businesses that solve real-world problems. These technologies will play a pivotal role in the future of finance, and entrepreneurs have a tremendous opportunity to make a global impact by building innovative solutions that will usher in a more inclusive and accessible financial system," Director of University Partnerships at Ripple, Lauren Weymouth, said.
The programme is open to start-ups building solutions or technologies in the fintech space. Participants will be at the pre-seed or seed rounds of growth, having completed the product development phase with a ready minimum viable product in place. A minimum of two team members is required, giving them the capability to dedicate resources to the programme.
Focus areas for CSA 9 include but are not limited to blockchain-powered applications, P2P lending, insurance, digital distribution platforms for financial products, cryptocurrencies and remittances, identity and authentication, payment gateways, financial education, and financial inclusion. Other programme partners include Abu Dhabi Global Market (ADGM) and VentureSouq. Applications close on 28th August, 2022.
Since its inception, startAD has supported more than 380 start-ups, resulting in 66 pilots. These start-ups have generated $70 million in revenues and have raised $100 million in funding. The 8th edition of startAD’s Corporate Sprint Accelerator has been judged as one of the top 10 fintech accelerators in the region and resulted in five pilots and partnerships announcements and $25,000 awarded in grants.