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ABU DHABI / WAM
Registration for Fikra Labs, an acceleration programme aimed at driving innovation and fostering entrepreneurship in the Abu Dhabi travel and tourism sector, has officially closed and the selected startups are now embarking upon a four-week incubation programme.
Launched in early February as part of the UAE Innovation Month, the programme was led by four of Abu Dhabi’s top organisations – the Department of Culture and Tourism – Abu Dhabi, Miral, Etihad Aviation Group and Abu Dhabi National Exhibitions Company (ADNEC) – supported by Abu Dhabi Global Market (ADGM) and in collaboration with Wamda.
During the one-month registration period that ended in March, hundreds of MENA startups registered their participation in the Fikra Labs programme. This was then followed by a screening process before the selected startups moved forward to receive unparalleled mentorship opportunities and the chance to win a potential monetary investment, as well as an opportunity to structure their business in the capital’s international financial centre, Abu Dhabi Global Market.
With technology continuously shaping the way travelers interact with destinations, the shortlisted applicants were tasked with the important mission of harnessing the power of technology to pitch creative solutions that tackle the different partners’ business challenges. Enhancing the visitor’s experience – from the moment they book their ticket to arriving to Abu Dhabi – was a key focus as applicants moved forward through the various stages. Partners were looking for ideas that best tackle these challenges and support them in establishing Abu Dhabi’s credentials as the leading hub for world-class tourism.
Each partner will select one winner to work with directly after the programme is over. The ultimate reward for each winning startup is a potential $100,000 investment by the relevant partner, as well as the unique opportunity to work directly with one of Abu Dhabi’s leading organisations and become an integral part of the Emirate’s travel and tourism landscape.
Mohamed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism – Abu Dhabi, said, “On behalf of all the partners involved in this programme, we look forward to working with creative minds who will drive innovation and further elevate Abu Dhabi’s position as the leading global hub for travel and tourism. As part of our mandate to promote Abu Dhabi as a destination of distinction, the Department of Culture and Tourism – Abu Dhabi, joined efforts with Miral, Etihad Aviation Group and ADNEC, supported by ADGM, to identify technology-enabled solutions that would support all partners to continue providing visitors with the best experiences.”
Tony Douglas, Group Chief Executive Officer, Etihad Aviation Group, said, “Etihad is honoured to be joining forces with major government and private sector partners on the important Fikra Labs initiative, which highlights the need for collaboration to harness our individual strengths to be truly innovative, and to address our industry’s challenges head-on with a single vision.”
All applications received were reviewed by a screening committee composed of the Department of Culture and Tourism – Abu Dhabi, Miral, Etihad Aviation Group, ADNEC and Wamda, and scored according to pre-established judging criteria and scoring metrics that included a thorough understanding of the business challenge they are trying to solve, the relevance to the industry verticals, the potential to scale and become sustainable and the team’s strength, qualifications, and ability to deliver.
Applicants with the highest scores were then invited to a 30-minute interview with the committee to learn more about them and check if they had the required technical and leadership skills, motivation, commitment and resilience to make their startups successful. The 32 shortlisted startups then joined a two-day mini boot camp designed as an intensive workshop to help participants develop their business ideas and become pitch-ready. They pitched their business ideas to the screening committee who then chose the 12 final teams to be part of a four-week incubation programme.
Before embarking upon this process, the finalists had the opportunity to meet with Saif Saeed Ghobash, Director-General of the Department of Culture and Tourism – Abu Dhabi, and talk about the disruption within the tourism industry, and their Fikra Labs journey so far.
The final step of the programme will be a one-day event in which the finalists will attend working sessions with the Wamda team and industry experts to finalise their prototype, pitches and presentation decks. They will then pitch their ideas to the jury and participate in a Q&A session. The day will conclude with an awards ceremony, where four winners will be announced.