TradeArabia: DisruptAD and Flat6Labs launch Ignite

Ramez El-Serafy DisruptAD, one of the region’s largest venture platforms, is partnering with Flat6Labs, Mena’s leading seed investor, to launch Ignite, a new start-up accelerator in Abu Dhabi.

It will support early stage companies with AED120 million ($32.67 million) in funding and other benefits including office space and mentorship.

The programme is part of DisruptAD’s broader mission to support and nurture 1,000 start-ups over the next five years and create a thriving local community of founders, fund managers, incubators and accelerators in Abu Dhabi. Ignite will be the first of many such accelerator partnerships for DisruptAD.

The launch of Ignite in partnership with Flat6Labs underpins DisruptAD’s long-term desire to maximise value creation and deliver long-term economic benefits for the UAE by seeding businesses that are technology pioneers and change leaders.

The programme will run over a three-year period, investing in 20 startups every year. Applications for the first cycle will be open until April 30, 2021, offering participating companies the opportunity to benefit from a seed investment worth up to AED550,000, together with follow-on funding of up to AED2 million. Startups will also receive tailored support designed to help them effectively scale and grow their businesses to become regional champions and ultimately global champions.

As part of the Ignite programme, startups will benefit from opportunities for regional exposure and world-class mentorship through Flat6Labs’ international connections and top-tier coaching. These companies will also enjoy access to DisruptAD’s network and resources. The program will organize Flat6Labs Demo Days, support fundraising and business build out, and ultimately offer the full spectrum of support needed for start-ups to thrive and flourish in Abu Dhabi.

Ramez El-Serafy, Flat6Labs CEO, commented: “We are delighted to partner with DisruptAD for the launch of this three-year program. Flat6Labs’ presence in Abu Dhabi opens up exciting new possibilities, not only for this program but for the long-term evolution of Abu Dhabi as a global start-up destination. Together, we will harness our accumulated knowledge and experience to better serve the entrepreneurial ecosystem and create unique opportunities for promising startups.”– Tradearabia News Service