Search

Microsoft for Startups graduates third cohort of B2B tech startups from GrowthX Accelerator program

12 B2B tech startups successfully completed the 10-week program run in partnership with the Abu Dhabi Investment Office (ADIO)

Web Desk 09:55 PM | 12 Jan, 2023
Microsoft for Startups graduates third cohort of B2B tech startups from GrowthX Accelerator program

ABU DHABI - Microsoft for Startups Middle East, in partnership with the Abu Dhabi Investment Office (ADIO), today graduated the latest cohort of tech startups from its GrowthX Accelerator program.

The conclusion of the cohort was celebrated during a Demo Day event, hosted at Abu Dhabi’s financial centre, Abu Dhabi Global Market (ADGM), with attendees including startup founders, government officials, investors, business leaders and stakeholders from the regional entrepreneurship ecosystem. 

Run as part of a strategic partnership between ADIO and Microsoft for Startups, GrowthX is specifically designed to empower growth-stage B2B startups from Seed to Series A stages to grow and scale in Abu Dhabi. The program features weekly sessions from Microsoft experts and regional and global leaders in business and technology. The 12 startups in this cohort hail from across the Middle East, Turkey and Pakistan, and are developing solutions in E-commerce, EdTech, Fintech, HRtech, and Insurtech. The companies in this cohort are Fortyguard, Ilmversity, Klickit, MonSpark, Pisano, Poilabs, Raabtaa, Supercommerce, Vita Virtues, Xina AI, Edraak Systems, and Pay Caps. 

Eng. Abdulla Abdul Aziz AlShamsi, Acting Director General at ADIO, said, “The rapid pace of digital transformation is an opportunity to find new technological solutions to global challenges continually. The GrowthX Accelerator is a proven platform to identify and empower innovative startups to achieve scale and impact. We congratulate all the graduates on completing this program and look forward to seeing how they leverage the tools gained to accelerate their growth and enhance the regional startup landscape.” 

Naim Yazbeck, General Manager, Microsoft UAE, said, “It has been both inspiring and encouraging to witness the growth and development of each of the startups enrolled on this cohort. They’ve leveraged every opportunity to maximize the potential of their offerings, enhance their skillsets and embrace the support and resources available to empower them to grow and scale their businesses. Together with ADIO, we are proud to have empowered another incredible cohort of startups to showcase their innovative ideas and develop them into real-world solutions, that will strengthen the regional ecosystem and develop our digital economy.” 

Investment in tech startups across the UAE and the Middle East continues to grow exponentially as demand for new, creative, and innovative products and solutions continue to rise. Over the past year, venture capital funding in MENA reached $2.6 billion, 138% more than in 2020, according to MAGNiTT. Startups in the UAE accounted for 26% of all deals closed across MENA and 45% of all funding raised across the region in 2021.

The GrowthX Accelerator helps startups develop their offerings and unlock new opportunities for success. The 10-week program offers a variety of group and one-on-one virtual sessions and training on enterprise sales, technical readiness, investor readiness, and customer engagement tactics. Participating startups also work closely with Microsoft to co-create technology solutions that address real challenges facing organizations in the region, and receive support from regional partners including legal assistance from Clara. 

Following the conclusion of the program, the startups will also work closely with Masdar City, a GrowthX program partner, who will support the graduating cohort in obtaining business licences and establishing operations in Abu Dhabi. The Masdar City Free Zone hosts more than 1,000 companies that benefit from the city’s unique ecosystem of education, R&D, technology startups, incubators, and corporates.

Including the recently concluded cohort, the GrowthX Accelerator has graduated a total of 48 startups since its inception in 2021.

Web Desk
Web Desk

Daily Pakistan Global Web Desk

Advertisement

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 1, 2023 (Wednesday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 267.53 268.18
Euro EUR 290.22 290.82
UK Pound Sterling GBP 330.48 331.18
U.A.E Dirham AED 72.78 73.08
Saudi Riyal SAR 71.23 71.53
Australian Dollar AUD 190 193
Bahrain Dinar BHD 702.68 710.68
Canadian Dollar CAD 201.75 205
China Yuan CNY 39.15 39.55
Danish Krone DKK 38.6 39
Hong Kong Dollar HKD 33.72 34.07
Indian Rupee INR 3.24 3.35
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 865.31 874.31
Malaysian Ringgit MYR 62.24 62.84
New Zealand Dollar NZD 171.35 173.35
Norwegians Krone NOK 26.76 27.06
Omani Riyal OMR 686.49 694.49
Qatari Riyal ‎QAR 72.58 73.28
Singapore Dollar SGD 201.2 203.2
Swedish Korona SEK 25.45 25.75
Swiss Franc CHF 286.19 288.69
Thai Bhat THB 8.06 8.21

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs202,000 on Wednesday. The price of 10 grams of 24k gold was recorded at Rs173,190.

Likewise, 10 grams of 22k gold were being traded for Rs164,500 while a single tola of 22-karat gold was being sold at Rs 179,100.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 202,000 PKR 2,390
Karachi PKR 202,000 PKR 2,390
Islamabad PKR 202,000 PKR 2,390
Peshawar PKR 202,000 PKR 2,390
Quetta PKR 202,000 PKR 2,390
Sialkot PKR 202,000 PKR 2,390
Attock PKR 202,000 PKR 2,390
Gujranwala PKR 202,000 PKR 2,390
Jehlum PKR 202,000 PKR 2,390
Multan PKR 202,000 PKR 2,390
Bahawalpur PKR 202,000 PKR 2,390
Gujrat PKR 202,000 PKR 2,390
Nawabshah PKR 202,000 PKR 2,390
Chakwal PKR 202,000 PKR 2,390
Hyderabad PKR 202,000 PKR 2,390
Nowshehra PKR 202,000 PKR 2,390
Sargodha PKR 202,000 PKR 2,390
Faisalabad PKR 202,000 PKR 2,390
Mirpur PKR 202,000 PKR 2,390

Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter