Abu Dhabi, United Arab Emirates, February 6, 2018: Etihad Airways and NYU Abu Dhabi-based innovation and entrepreneurship platform startAD have signed a Memorandum of Understanding (MoU) to develop the entrepreneurship ecosystem in the UAE through the exchange of knowledge, expertise and training.
The agreement was signed by Peter Baumgartner, Etihad Airways Chief Executive Officer, and Ramesh Jagannathan, Managing Director of startAD and Vice Provost for Innovation and Entrepreneurship at NYU Abu Dhabi, in a ceremony held at the Etihad Headquarters.
Through the Venture Launchpad, startAD will provide Etihad Airways early access to high calibre startups in the key focus areas of the airline. The startAD Venture Launchpad program is able to identify early stage technology startups and help them to develop a scalable, repeatable and capital efficient business model that culminates in an investor day where finalists pitch their ventures to investors. Startups can apply to the program by visiting vl.startad.ae.
Mr Jagannathan said: “As Abu Dhabi and the UAE embark on the momentous journey of transforming the region into a global entrepreneurial economic powerhouse, startAD is committed to help in building the national innovation capacity. Through this partnership, Etihad and startAD will further strengthen the UAE innovation ecosystem and accelerate global innovation in aviation.”
As a result of this partnership, Etihad Airways will offer domain knowledge and expertise on matters of aviation, big data, logistics, and cargo transportation to startups enrolled with startAD, disrupting the legacy approach in aviation and related domains. Experts from Etihad will mentor startup teams at the Venture Launchpad program, Beyond the Pitch program and startAD ADvance.
Mr Baumgartner said: “Etihad is committed to driving innovation. It is part of our DNA, our brand and our customer promise. We are also ultimately committed to foster innovation in partnership – creating an innovation ecosystem with Abu Dhabi and UAE entities.
“startAD is an ideal platform for us to plug into to get access to inspiration and capability, a platform that allows us to make sure projects are carried through to something that creates innovation and intellectual property as competitive advantage for the airline, for Abu Dhabi and for all stakeholders. It’s about acting as a catalyst for how Abu Dhabi Inc. should come together with its stakeholders and institutions to jointly create innovation that strongly supports the destination’s masterplan.”
The MoU is set to further develop the local entrepreneurship ecosystem by encouraging mutual access to training initiatives between the two organisations. startAD will provide access to entrepreneurship skills development to mentors and advisors from Etihad Airways.
Startups that align with the airline’s areas of focus will also be provided with the opportunity to connect with Etihad Airways’ comprehensive network of professionals, firms and partner institutions, while innovation and entrepreneurship initiatives by Etihad Airways will receive consultation on design and organisation from startup professionals at startAD, including the provision of hackathons, festivals, panel discussions, and conferences for entrepreneurship.
Photo caption: Ramesh Jagannathan, Managing Director of startAD and Vice Provost for Innovation and Entrepreneurship at NYU Abu Dhabi and Peter Baumgartner, Etihad Airways Chief Executive Officer signing the MoU at Etihad Headquarters in Abu Dhabi.
startAD is an innovation and entrepreneurship platform that supports early stage startups in the UAE. startAD is a partnership between NYUAD and Tamkeen, an Abu Dhabi Government-owned company and seeks to strengthen the entrepreneurial ecosystem in the UAE by offering core programs and entrepreneurship initiatives. Available exclusively to nationals and residents of the UAE, these programs enable the development of technology startups in emerging local industries of strategic importance to the UAE such as energy, aviation, logistics, fintech, smart transportation and facilitate investment in local-based startups.
Selected startups that display outstanding potential and promise may also benefit from ADvance mentoring and seed funding from startAD to help scale their businesses.
For more information, please log on to: http: startad.ae
Tamkeen is an Abu Dhabi Government-owned company that delivers projects to meet the Government of Abu Dhabi’s vision of knowledge-based development. This is achieved by collaborating with a variety of local and international institutions to enrich the Emirate’s social, cultural and educational landscape in line with the Abu Dhabi Economic Vision 2030.
About NYU Abu Dhabi
NYU Abu Dhabi is the first comprehensive liberal arts and science campus in the Middle East to be operated abroad by a major American research university. NYU Abu Dhabi has integrated a highly-selective liberal arts, engineering and science curriculum with a world center for advanced research and scholarship enabling its students to succeed in an increasingly interdependent world and advance cooperation and progress on humanity’s shared challenges. NYU Abu Dhabi’s high-achieving students have come from 115 nations and speak over 115 languages. Together, NYU's campuses in New York, Abu Dhabi, and Shanghai form the backbone of a unique global university, giving faculty and students opportunities to experience varied learning environments and immersion in other cultures at one or more of the numerous study-abroad sites NYU maintains on six continents.
About Etihad Aviation Group
Headquartered in Abu Dhabi, the Etihad Aviation Group is a diversified global aviation and travel group with a business model driven by partnership and an innovative approach to growth. Etihad Aviation Group comprises five business divisions – Etihad Airways, the national airline of the United Arab Emirates; Etihad Airways Engineering; Etihad Airport Services; Hala Group and Airline Equity Partners. For more information, please visit: theetihadaviationgroup.com.
About Etihad Airways
From its Abu Dhabi base, Etihad Airways flies to 100 international passenger and cargo destinations with its fleet of 115 Airbus and Boeing aircraft. Etihad Airways, the national airline of the United Arab Emirates, was established by Royal (Emiri) Decree in July 2003, and in 2017 carried 18.6 million passengers. For more information, please visit: etihad.com, follow @EtihadAirways on Twitter and join Etihad Airways on Facebook.