Abu Dhabi: The MENA region’s leading seed and early-stage venture capital firm Flat6Labs has announced 10 new start-ups that have been selected for the fourth cycle of the flagship Flat6Labs Ignite program in association with DisruptAD, the venture platform of ADQ.
These organisations will now try to use the seed funding and top-notch mentoring offered by the program to promote disruptive change in the region and beyond. They were chosen after a thorough selection process involving over 960 candidates from across the world.
Launched in March 2021 as a partnership between DisruptAD and Flat6Labs, Flat6Labs Ignite is a specialised seed program committed to supporting start-ups in Abu Dhabi. Since Flat6Labs reinstated its seed program in Abu Dhabi in mid-2021, they have gone on to make investments into 37 start-ups with total funding of an impressive $8.98 million.
“Owing to the growing popularity and proven track record of our program, and the initiatives undertaken by the UAE government to establish the nation’s capital as a global hub for entrepreneurship, the quality of applicants for this fourth cycle has been truly impressive. The start-ups that comprise our latest cohort have demonstrated the potential to revolutionise their market segments. With access to our world-class mentorship program, as well as the ability to leverage start-up friendly banking services (through our partnership with Wio Bank) and avail of fast-track access to the UAE golden visa (through our partnership with Abu Dhabi Residents Office), these organisations will be primed for success,” Mr. Ryaan Sharif, General Manager at Flat6Labs UAE, remarked.
In keeping with the overarching objective of the Flat6Labs Ignite program, a common trait shared by each of the newly selected start-ups is their focus on leveraging technology to drive disruptive change in their respective market segments. Of the set, seven are home-grown in the UAE, while the others were founded in Spain, the USA and Bahrain.
As with previous cohorts and aligning with the government’s efforts to establish the Capital as a global entrepreneurial hub and centre for innovation, the three international organisations will now relocate their founders, leadership teams and core operations to Abu Dhabi.