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10/28/24, 4:33 PM UAE launches TradeTech Accelerator
UAE launches TradeTech Accelerator

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Middle East | October 18, 2024 7:41:41 AM IST
Dubai [United Arab Emirates], October 18 (ANI/WAM): Thani Al Zeyoudi, Minister of State for Foreign Trade, has officially
launched a TradeTech Accelerator, an innovative incubator designed to support startups developing advanced technology solutions

for use in the trade sector.

Forming one of the key pillars of the TradeTech Initiative, which was launched by the UAE in collaboration with the World
Economic Forum (WEF) and the Abu Dhabi Department of Economic Development (ADDED), the Accelerator will help nurture
enterprises and projects that will contribute to modernize and improve logistics, customs procedures, trade finance and cross-border

payments.

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

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