LlamaZOO, Darabase, Geotwin, Sook Space win pilot systems with Aldar
Abu Dhabi, United Arab Emirates: Aldar Properties (“Aldar”) today announced that five technology startups have received pilot projects under the circular of its capitalless accelerator program, Scale Up, along with its strategic partner Majid Al Futtaim Communities. The five decided on corporations specialize in the evolving technologies of spatial and synthetic intelligence, blockchain, NFT programs and knowledge analytics, and align with the UAE’s smart and sustainable city ambitions, as the transition to Web 3. 0 accelerates globally.
Developed in partnership with startAD, the Abu Dhabi-based global startup accelerator, powered by Tamkeen and anchored at NYU Abu Dhabi, this year’s program aimed to attract new foreign companies with technologies that have the potential to reinvent the long-term real estate industry. and shape the open metaverse. Aldar awarded 4 pilot contracts from foreign startups, while Majid Al Futtaim Communities awarded two.
The five corporations chosen for the pilot projects include:
Following a rigorous evaluation procedure of more than three hundred programs from 69 countries, 10 startups were accepted to participate in a 4-week dashboard accelerator where they won organized educational sessions, worked with committed innovation champions within Aldar and Majid Al Futtaim, and enjoyed global experts and presentations to regional industry leaders. Participating startups have raised an average of $632,000 in investment and generate an average annual profit of $619,000. The 10 startups submitted their responses to a variety committee for pilot projects with Aldar and Majid Al Futtaim communities
Commenting on the Aldar Scale Up program, Maan Al Awlaqi, Chief Strategy and Transformation Officer, Aldar Properties, said: “The landscape of real estate generation startups has grown over 300% over the past decade with approximately 8,000 PropTech corporations identified [1] and we are seeing significant demand for PropTech platforms in the UAE, especially with the global transition to Web 3. 0. Despite an overall decline in global venture capital financial activity in the first quarter, the price of transactions in the MENA region continued to grow rapidly, with only around 70% of the total price of the 2021 investment completed in the first 3 months of 2022, indicating a significant appetite for investing in startups.
“The Aldar Scale Up program is designed to fulfill this call and link us and our partners with global startups that are redefining the industry. The selected startups demonstrated that their responses can increase the real price of Aldar’s business model, either through spatial intelligence platforms. , monetizing our real heritage in the metaverse or connecting our communities to experiential spaces. We see wonderful potential in these pilot projects and look forward to executing them. “
Shadi Al Azzeh, Managing Director of Majid Al Futtaim Communities, said: “At Majid Al Futtaim Communities, our goal is to assist genuine real estate startup netpaintings in their ambitions to pave the way for long-term innovation and improve the industry. Technological advances have an effect on mixed-use communities and reduce inefficiencies in neighborhoods. We expect 2022 to eclipse this, with advances in the metaverse, sustainable mindsets, Gen Z dominance, and new communities dominating the real estate tech landscape. The possibilities of real estate here are limitless, and the real opportunity lies in bringing the global built closer to the advanced virtual global of the metaverse. At Majid Al Futtaim, innovation and virtual transformation are key strategic pillars. We are excited to marry the determined pilot projects and paintings along them exploring the metaverse or connecting our communities through virtual touchpoints. “
StartAD CEO Ramesh Jagannathan commented: “10 startups have been accepted into the programme and in just four weeks, 6 advertising pilot projects have been awarded through Aldar Properties and Majid Al Futtaim Communities. This demonstrates the commitment and speed of virtual transformation in Abu Dhabi. and the UAE real estate sector. 60% of the state-of-the-art Web 3. 0, NFT and Metaverse technologies entering the Scale Up program gain tangible opportunities to redefine the way other people enjoy real estate and reinforce the role the UAE will play in the long-term global economy. “
The Aldar Scale Up programme, which was launched in February 2021, is one of many systems that Aldar has put in position for the UAE’s national innovation strategy. The company has developed a framework to promote cutting-edge practices, with a focus on 3 strategic areas: corporate innovation, incubation systems for startups in complementary sectors and investment in companies driven by new generations. As a component of this strategy, Aldar continues to identify and a number of incubators and systems to publicize innovation and foster emerging generation concepts and young skill in the region.
One of Aldar’s leading innovation systems throughout Scale Up is Manassah, a platform for businesses in the UAE that has incubated more than 40 startups and SME projects over the past two years. The portfolio includes generation start-ups, SMEs and concepts from uae young companies.
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For information, please contact:
Media Obaid Al Yammahi Aldar Properties
Sarah Abdelbary Brunswick ALDAR@brunswickgroup. com
About Aldar
Aldar Properties PJSC is the UAE’s leading developer and asset manager with a diversified and sustainable operating style across two core businesses: Aldar Development and Aldar Investment.
Aldar Development is a master developer of integrated, livable and thriving communities in Abu Dhabi’s most popular destinations, adding Yas Island, Saadiyat Island, Al Raha and Reem Island. It is to blame for the Land Bank’s progression of 65 million m² and contains 3 activities: Aldar Projects, which manages Aldar’s paid progression control activities, adding AED 45 billion in public infrastructure and housing projects; Aldar Ventures, which incubates and nurtures new business opportunities and new innovation spaces; and Aldar Egypt, the platform aimed at creating mixed-use communities in Egypt.
Aldar Investment is home to Aldar’s core asset control business, comprising a portfolio of more than AED22 billion of genuine real estate assets generating diversified and investment-grade revenue in the retail, residential, advertising and hospitality segments. It also manages 3 main platforms: Aldar Education, Aldar Estates and Aldar Hospitality and Leisure. Aldar Education contains Aldar’s entire education portfolio, adding Aldar Academies, Abu Dhabi’s leading school group, with 20 schools, over 26,000 academics and a developing network of 3,000 educators from over a hundred nationalities, providing a wide diversity of ancillary systems and as a Teacher Training Academy.
Aldar Estates is consolidating Aldar’s retail operations throughout existing residential real estate and advertising transactions within Provis and will have control of the network under a built-in asset control platform. and Saadiyat, in addition to Ras Al Khaimah. Se adds to Aldar’s portfolio of 11 hotels, adding more than 3,600 hotel keys and managing operations in golf courses, beach clubs and marinas.
Aldar shares are listed on the Abu Dhabi Stock Exchange (stock exchange: ALDAR: UH). It is a successful, cash-generating company that generates recurring revenue and a diversified and supportive shareholder base. Aldar operates under the highest criteria of corporate governance and is committed to operating a long-term sustainable business to offer a consistent price to its shareholders.
Aldar is driven by the vision of being a leading developer and asset manager in the region by playing a key role in developing quality, comfortable and desirable destinations in which other people can live, paint and visit.
To learn more about Aldar, visit www. aldar. com
About startAD
startAD is an Abu Dhabi-based accelerator that directs local and global start-ups to scale in the UAE and beyond. Powered through Tamkeen and anchored at NYU Abu Dhabi, startAD is a new style of innovation that creates customized, impact-driven systems in partnership with stakeholders, adding governments, businesses, investors and innovation entities, driving the UAE’s transition to a knowledge-based economy. startAD’s exclusive board accelerator-style corporations pursue innovation through partnering with startups that disrupt their core businesses while offering startups the education and opportunity to pilot. your answers with industry leaders.
startAD provides unprecedented business advancement opportunities for local and global startups, SMEs, researchers, investors and youth through a wide diversity of programs, services and a strong global network. Driving innovation in the construction, retail, finance and other sectors In the UAE, startAD alumni startups raised $70 million in investments, generated $50 million in revenue, secured more than 50 global pilot projects with corporations, and created more than 270 jobs worldwide.
About Tamkeen
Tamkeen is an Abu Dhabi-based company tasked with carrying out projects that meet the UAE’s vision of knowledge-based development. Tamkeen works with local and foreign establishments to enrich the UAE’s social, cultural and educational landscape.
About NYU Abu Dhabi
NYU Abu Dhabi is the first comprehensive liberal arts and science campus in the Middle East to be operated overseas through a leading university in American studies. NYU Abu Dhabi has incorporated a highly selective liberal arts, engineering and science program with a global center for complex studies and scholarship that enables its scholars to succeed in an increasingly interdependent global and advanced cooperation and progress in the non-unusual demanding situations of humanity. NYU Abu Dhabi’s most sensitive pershapeers come from 115 countries and speak more than 115 languages. Together, NYU’s campuses in New York, Abu Dhabi and Shanghai form the backbone of an exclusive global university, giving university students and academics the opportunity to delight in varied learning environments and immerse themselves in other cultures at one or more of the many exam sites NYU maintains on six continents.
[1] JLL Market Research
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