DUBAI: Expo City Dubai and Japanese venture capital firm Universal Materials Incubator (UMI) have teamed up to identify and support groundbreaking startups, particularly those in the technology and sustainability sectors, establishing an incubation and accelerator programme that will nurture innovators and provide mentorship, resources and workspace.

The two parties formalised their strategic partnership at COP28, signing a memorandum of understanding (MoU) that solidifies their collaboration in innovation, economic growth and sustainable development, with a long-term vision to explore opportunities to contribute to sustained growth and prosperity.

The agreement was signed by Mukhtar Safi, Chief Financial Officer of Expo City Dubai, and Dr Shosuke Kiba, Representative Director / Managing Partner of Universal Materials Incubator, and was facilitated by the Japan Cooperation Centre for the Middle East (JCCME).

Working together, Expo City and UMI will facilitate and host networking events, workshops and speci
alised training programmes to help startups scale and grow. Expo City will also be home to a unique Urban Lab, where UMI-funded startups can trial their technologies in a ‘sandbox’ testing environment, helping drive innovation and progress.

An innovation-driven, human-centric city, Expo City is a dynamic hub that brings together a diverse spectrum of organisations, including companies, entrepreneurs, SMEs, as well as government, academia, and research institutions, nurturing a community of innovators and visionaries and providing a springboard for them to scale and grow.

As a growing urban and business centre and the legacy of Expo 2020 Dubai, Expo City contributes to Dubai’s sustained growth and development by attracting local and international companies, enhancing Dubai’s position as a global centre of trade, supporting the Dubai Economic Agenda (D33) and the UAE’s wider development ambitions.
Source: Emirates News Agency