Page 160 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/29/24, 9:36 AM Ministry Of Economy's Nextgen FDI Program Partners With Continuous Ventures To Support The UAE's Startup Ecosystem
According to His Excellency Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, the
partnership underscores the UAE's commitment to becoming a global leader in innovation

and entrepreneurship:“This collaboration with Continuous Ventures will play an important role
in our efforts to make the UAE the destination of choice for pioneering enterprises at every

stage of their growth journey. As we accelerate our economic diversification efforts, our ability
to nurture new ideas, new capabilities and new ventures, particularly in high-potential sectors

such as med-tech, renewable energy, advanced manufacturing, agri-tech and trade tech, will
support our ambition to develop an economy based on knowledge and innovation. The

experience and expertise of Continuous Ventures will help NextGen FDI companies leverage
the opportunities in the local and regional market but introduce new enterprises to our growing
network.”

Colin Meagle, Founding Partner of Continuous Ventures, emphasized the UAE's unique

position as a launchpad for innovation and entrepreneurship:“The UAE is an ideal base for

our headquarters due to its forward-looking approach to technology and innovation. Through
our partnership with NextGen FDI, we can help homegrown startups compete on a global
stage, transforming local ideas into world-changing companies. This collaboration marks an

exciting new chapter for us, and we're honored to contribute to the UAE's journey towards
becoming a world leader in tech innovation.”

Continuous Ventures will initially support

high-potential UAE-based startups within its
Dubai and Abu Dhabi offices, with plans to expand into a larger campus-style facility in DIFC

as the program scales with client and investment partners. The firm's mission goes beyond
funding; they aim to build a culture of excellence by fostering a collaborative environment

where entrepreneurs can interact with industry veterans, refine their ideas, and work towards
their next milestone. They will further support the UAE's start-up ecosystem by introducing

their A, B and C investment partners to the region.

Launched in 2022, NextGenFDI aims to support the growth of the nation's knowledge-driven
economy by attracting high-growth and high-potential companies to relocate to the UAE. To

date, the program has welcomed companies operating in future-focused sectors such as
robotics, precision fermentation, hybrid aviation and off-grid concentrated solar power.

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