Page 369 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/28/24, 4:33 PM UAE launches TradeTech Accelerator
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 Dhabi, which is an
epitome of incentivizing innovation, championing startups, and developing advanced

technologies to enhance efficiencies in the trade ecosystem. Hub71, Abu Dhabi's global

tech ecosystem, and the Advanced Trade & Logistics Platform (ATLP), the single window
platform for trade, emerge as testament to our commitment and efforts to support

convergence of trade and technology, support of startups and technological innovations".

"We are continuously evolving trade facilitation solutions, including AI-powered systems, to
simplify procedures, reduce time and cost, and increase trade volumes as we cement Abu

Dhabi' position as preferred hub for talents, businesses, investments, and a key node on
international supply chains. By enabling startups to unlock the potential of advanced and

emerging technologies, the TradeTech Accelerator Program is paving the way to develop

innovative solutions that will shape the future of trade and enhance its role in sustainable
development".

Tim Stekkinger, Head, TradeTech Global Initiative, World Economic Forum: "Startups are

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