UAE - Mubasher: DisruptAD, ADQ's venture capital platform, has partnered with the largest manager of startup programmes Flat6Labs to launch an AED 120 million startup accelerator programme in Abu Dhabi to strengthen innovation and entrepreneurship.
Ignite programme is part of DisruptAD's objective to support and develop 1,000 startups over the next five years and create a local community of founders, fund managers, incubators, and accelerators in the capital, according to a recent press release.
The three-year accelerator programme, the first accelerator partnership for DisruptAD, will invest in 20 startups every year to enable them to benefit from a AED 550,000 seed investment and funding of up to AED 2 million.
The CEO of Flat6Labs, Ramez El-Serafy, said: "Flat6Labs’ presence in Abu Dhabi opens up exciting new possibilities, not only for this programme but for the long-term evolution of Abu Dhabi as a global start-up destination."
