Page 357 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/28/24, 4:32 PM UAE launches TradeTech Accelerator
that will contribute to modernize and improve logistics, customs procedures, trade

finance and cross-border payments.

Dr. Al Zeyoudi launched the Accelerator during WEF's Annual Meeting of the

Global Future Councils 2024, which took place between October 15-17 in Dubai.

The event gathered more than 500 representatives of the public and private sectors,

academia, and civil society from 80 countries to shape a more resilient, inclusive

and sustainable future. He also announced that Plug & Play, a globally renowned

innovation platform with extensive experience in nurturing startups, will be the

Accelerator's official partner, providing mentorship, collaboration opportunities,

and guidance to the participating companies.

During his remarks, he also called for applications to the Accelerator, which is now

open to submissions from companies developing solutions that utilize artificial

intelligence (AI) - which is the focus of the second year of the TradeTech Initiative.

It is hoped the first cohort will graduate from the Accelerator in March 2025.

He said: "The TradeTech Initiative underlines the UAE's leadership on global trade

issues. By driving innovation and promoting the integration of advanced

technologies, including AI, into supply chains, we can envision a more efficient,

more robust and more accessible global trading system. The TradeTech Accelerator

is an essential part of these efforts, supporting the development of the ideas and

enterprises that will enhance processes right the way along the value chain, from

securing trade finance to customs clearance documentation. The Accelerator will

not only provide the support and guidance to develop the best TradeTech solutions

but connect them with key players in the logistics and trade sectors to ensure they

are viable and scalable. This step will begin to turn promising projects into real-

world solutions."

Ahmed Jasim Al Zaabi, Chairman of ADDED, said "The launch of TradeTech
Accelerator Program is fully aligned with strategic objectives of the UAE and Abu

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