Aldar Properties has announced the launch of its corporate innovation program, Aldar Scale Up, in partnership with startAD, the Abu Dhabi-based global accelerator at NYU Abu Dhabi and powered by its partner Tamkeen.
The virtual market access will provide a gateway to tangible growth opportunities, build strong networks, and validate global PropTech startups. It will provide the latest cutting-edge real estate technology to enter and grow in the UAE market through pilot projects with Aldar and other leading industry players in the region.
The inaugural edition of the program will run virtually over a four-month period, at the end of which 10 startups will have the opportunity to pitch to a selection committee and up to 5 startups will be awarded pilot projects with Aldar. Startups will provide innovative and sustainable solutions in the real estate sector such as:
• Effective energy management
• The development of smart cities
• The protection of biodiverse ecosystems
Opportunities to secure pilot projects with other UAE companies will be available for entrepreneurial ventures during the pitching process. The program will also upskill Aldar business units to build collaboration with global startups and implement innovative and sustainable real estate technologies
Hub71, Abu Dhabi’s global tech ecosystem, will also be joining the program selection committee. PropTech startups selected for Aldar Scale Up will automatically be shortlisted for Hub71’s Incentive Program, which offers more than $400K worth of equity-free subsidies including up to 100% free housing, health insurance, and WeWork x Hub71 office space for up to three years.
Maan Al Awlaqi, Executive Director, Strategy and Transformation, Aldar Properties, said, "Fostering a culture of innovation internally at every level of our business helps us create intellectual and practical progress at Aldar towards a better customer experience and lifestyle. The PropTech sector seems to be finally gaining steam globally and is revolutionising the landscape. As this narrative evolves, it is important that companies remain agile by tapping into emerging trends and investing time and resources in property technology."
Vice Provost of innovation and entrepreneurship at NYUAD and Managing Director of startAD said, “Infrastructure and construction programs are known to have a direct link to economic growth, job creation, and reduction of poverty. Through fostering Abu Dhabi’s Innovation agenda, startAD and Aldar are excited to usher in the best global PropTech startups that will have the unique opportunity to make a real impact on the future of the global construction sector.”
Applications for the Aldar Scale Up Programme are open and will close on February 27 2021.
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