UAE developer selects 5 tech startups for accelerator programme

Abu Dhabi-based real estate developer Aldar Properties announced today that five tech startups have been awarded pilot projects as part of the second cycle of its equity-free accelerator programme.

The five startups specialise in the rapidly evolving technologies of spatial and artificial intelligence (AI), blockchain, NFT applications, and data analytics, and align with the UAE’s smart and sustainable cities ambitions as the shift to Web 3.0 accelerates globally.

This year’s global startup accelerator programme focused on attracting international startups with technologies that have the potential to “reimagine the future of the real estate industry and shape the open metaverse”.

The five businesses selected for pilot projects by Aldar include LlamaZOO, Darabase, and Geotwin.

Sook Space is a platform that provides access to flexible, sustainable, affordable, and digitally-connected spaces.

Commenting on the Aldar Scale-Up Programme, Maan Al Awlaqi, executive director of strategy and transformation at Aldar Properties, said: “The real estate technology startup landscape has grown over 300% in the past decade with an estimated 8,000 PropTech companies identified, and we are seeing significant demand for PropTech platforms in the UAE, particularly with the global shift towards Web 3.0.

“Despite an overall decline in global VC funding activity during the first quarter, the value of deals across the MENA region has continued to grow rapidly, with nearly 70% of 2021’s total funding value achieved during the first three months of 2022, indicating significant appetite to invest in startups.”

Image credit: Yuganov Konstantin/Shutterstock


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