Businesses in cybersecurity, smart city, insure-tech, fintech, and public safety technologies benefit from the programme.
A new initiative by Synaptech Capital has been launched in Abu Dhabi to facilitate the UAE-Israel partnerships and expand international connections by creating a diverse ecosystem of innovative companies in the UAE.
The fund will raise $100 million, invest in the startups and promote their path to an exit.
Synaptech Capital will invest in Israeli and Emirati startups developing cybersecurity, smart city, insure-tech, fintech, and public safety technologies, relocate them to the fund’s Abu Dhabi Incubator, and later create a Corporate Innovation Hub for regional businesses to develop and collaborate.
The Synaptech Capital launch event in Abu Dhabi saw many family offices, private wealth groups and sovereign wealth funds taking part in an evening of collaboration between two nations – the UAE and Israel.
The startups Synaptech will invest in would relocate to Abu Dhabi, participate in the fund’s incubator program, and receive support and resources to facilitate their progress and development. In addition, they are establishing Syn-Up – a corporate innovation hub in the UAE that would provide corporations in the region with opportunities to collaborate and grow. The hub includes three subunits: an innovation centre, a startup accelerator, and a high-end academy.