ماستركارد تتعاون مع منصة Hub71 لتسريع الابتكار لدى شركات التكنولوجيا المالية الناشئة في دولة الإمارات العربية المتحدة
Abu Dhabi, United Arab Emirates, May 17 , 2020 – As part of its efforts to drive innovation, payment technology leader MasterCard has signed a Memorandum of Understanding with Hub71, the global technology platform based in the ADGM Square and home to global technology companies. Financial start-ups and leading technology institutions.
The Hub71 platform is one of the pioneering initiatives within the Abu Dhabi Development Accelerators Program “Ghadan 21” launched by the Abu Dhabi government at a cost of 50 billion dirhams, with the aim of enhancing the current economic agenda of Abu Dhabi and creating an enabling environment that enables entrepreneurs to thrive.
In line with Hub71's vision of accelerating innovation through fruitful partnerships, this MoU provides startups with the opportunity to collaborate and benefit from each company's strengths. Through this partnership with Hub71, startups with the potential to join the MasterCard Start Path program will be identified, and market access opportunities for startups operating under the Hub71 umbrella and companies covered by the Start Path program will be mutually beneficial.
According to the estimates of the Ministry of Economy in the United Arab Emirates, small and medium-sized companies represent more than 94% of the total number of companies operating in the country, and provide jobs for more than 86% of the workforce in the private sector. Mastercard works closely with banks and governments to create economic opportunities for small and medium-sized businesses through a range of initiatives, which contribute significantly to enhancing financial inclusion, supporting education, and creating more opportunities across the region.
On this occasion, Gaurang Shah, the deputy said the first head of payments management and digital laboratories region Middle East and Africa , MasterCard: "is an innovation , a key element of our identity in MasterCard. We are constantly trying to invent new ways to enhance the technology, we will be able through this cooperation to provide A range of unique solutions provided by FinTech startups. The Start Path program is part of a global initiative we launched to collaborate with the best and most important startups. Mastercard is keen to work with innovative companies operating within the Hub71 platform to support them from their beginnings and throughout their journey into the future."
Shah added: “Building a digital economy is the starting point for creating more parity around the world, and it is imperative to explore opportunities for cooperation available to achieve this. We look forward to supporting the UAE’s vision of a knowledge-based economy, and through our extensive experience we can provide the necessary support for this companies to accelerate their growth.
Commenting on the partnership, Ibrahim Ajami, Hub71 Acting CEO and Head of Startups at Mubadala Investment Company, said: “We are delighted to welcome MasterCard, a global leader in payment solutions technology, to Hub71’s growing community of global institutions and venture capital firms. Under this partnership, we will jointly develop a unique program to mentor and support Hub71’s FinTech startups, to help them take advantage of opportunities in the regional and global markets, and gain access to industry-specific information and technology insights. This distinguished partnership highlights the evolution of Abu Dhabi’s technological environment for innovative startups.”
Notably, Mastercard's Start Path is an award-winning program that aims to enhance the participation of startups and brings together a network of innovators from around the world to shape the future of commerce together. More than 200 tech startups are currently participating in the program, and together they have so far raised $2.6 billion in investments after the programme.
