Flat6Labs Abu Dhabi Showcases 8 Innovative Startups at its Third Demo Day Event
Wednesday, November 23rd 2016, Abu Dhabi, UAE — Under the patronage of H.E. Noura Al Kaabi, Minister of State for Federal National Council Affairs of the United Arab Emirates and Chairwoman of the Media Zone Authority-Abu Dhabi and twofour54, Flat6Labs Abu Dhabi, the leading digital media accelerator supported by twofour54 Abu Dhabi introduced eight new startup companies in its third Demo Day.
The Demo Day took place at Abu Dhabi Global Market following the partnership with Flat6Labs Abu Dhabi aimed to develop the financial technology (FinTech) space in Abu Dhabi. In addition to the diverse group of entrepreneurs that went through the four-month accelerator program in Abu Dhabi, the third Demo Day also hosted three FinTech focused startups from Flat6Labs’ FinTech Accelerator Program currently taking place in Cairo, Egypt.
The Demo Day event marked the culmination of the four-month accelerator program that encompassed a packed schedule of mentorship sessions, hands-on support, and feedback for the startups. More than 200 mentors, coaches, trainers and corporate partners were handpicked and recruited to work with the Flat6Labs Abu Dhabi’s entrepreneurs, from one-on-one coaching to making personal connections to investors.
Taking place during the UAE Innovation week, a nationwide celebration of innovation, the third Demo Day echos the commitment of Flat6Labs Abu Dhabi and TwoFour54 in fostering innovation in the UAE at large with media and entrepreneurship as the central themes.
The eight presenting startups represented an exquisite display of diversity with products and services ranging from an exciting Artificial Intelligence (AI) chatbot platform, an app that builds custom branded mobile apps for eSports teams to an online platform that creates a marketplace for emerging furniture designers, fintech, media content and more.
The five startups that presented on Flat6Labs Abu Dhabi’s Demo Day include:
● Ella, a curated newsletter and content platform for young women in the Middle East.
● Heero, an eSports Fan Engagement Platform helping teams Engage, Understand and Monetise their fans.
● Narrativa transforms data into natural language reports and news using Artificial Intelligence.
● Riyash is an online platform that creates a marketplace for emerging furniture designers.
● Skylar Labs enables customer engagement through intelligent chatbots through its platform, Hyphen.
The Three startups from Flat6Labs’ FinTech Accelerator Program include:
● Card Switch, an anti-fraud & personal card management mobile application.
● Moneyfellows gives individuals access to interest free credit and helps
them reach better saving achievements.
● Olly, a digital credit card app for students & young people.
The event showcases startups which have been supported and developed by the two-year partnership between Flat6Labs and twofour54 which was initiated to bring a specialized startup accelerator to Abu Dhabi and create a new hub for local and international entrepreneurs.
Minister of State for Federal National Council Affairs and twofour54 chairwoman, H. E. Noura Al Kaabi, commented: “We have long recognized that innovation and entrepreneurship is vital to the growth and sustainability of our Capital’s media and entertainment industry. In the UAE, 60 percent of the nation’s GDP is contributed by small and medium sized businesses, putting entrepreneurship at the heart of our nation’s economy. Helping to grow the entrepreneurs and businesses that will be tomorrow’s employers is vital to the UAE’s future economy and twofour54 is proud to support Flat6Labs in unlocking the innovation and potential in our next generation of business leaders.”
On the success of the Flat6Labs Abu Dhabi’s latest cycles, Victor Kiriakos, the Managing Director of Flat6Labs Abu Dhabi, said “We are very proud to have accelerated 18 companies throughout our three cycles here in Abu Dhabi. Supporting the next generation of entrepreneurs from the UAE and abroad to scale their businesses in the MENA region and beyond is our main vision. This Demo Day highlighted 8 great companies from our Abu Dhabi and Cairo accelerators, which is a testimony to the synergies we can leverage in the MENA region for our startups”
The strategic partnership between Flat6Labs Abu Dhabi and Abu Dhabi Global Market signed back in May 2016 is focused on how to foster a vibrant entrepreneurial environment and supporting the growth of financial technology (FinTech) in the Emirate of Abu Dhabi. The Demo Day is one of the many events which will come out of this partnership.
Richard Teng, CEO, Financial Services Regulatory Authority of ADGM added: “ADGM and Flat6labs have been working closely for the past few months to explore initiatives to support the FinTech community in Abu Dhabi. FinTech start-ups in Abu Dhabi, including participants of the ADGM RegLab, can learn and benefit much from well-established acceleration and mentorship programmes to take them through their innovation journey. I look forward to more joint efforts and initiatives with Flat6Labs to further the development and growth of the FinTech ecosystem in ADGM, Abu Dhabi and beyond.”
The accelerator program developed by Flat6Labs is leading the growth of the entrepreneurial ecosystem in Abu Dhabi and the UAE. Flat6Labs connects entrepreneurs to a strong network of regional and global mentors who provide support, expertise, and local knowledge focused around several sectors including but not limited to mobile applications, analytics, and digital content. Since its launch in November 2014, Flat6Labs Abu Dhabi has successfully graduated 18 technology startups over three cycles.