Cedar-IBSi FinTech Lab and startAD partner to boost Abu Dhabi’s FinTech ecosystem
Cedar-IBSi FinTech Lab and startAD, the global startup accelerator powered by Tamkeen and anchored at NYU Abu Dhabi, are delighted to announce the signing of a Memorandum of Understanding (MoU), solidifying their partnership to bolster the FinTech ecosystem in Abu Dhabi.
The collaboration aims to create an environment of mutual support, empowering FinTech startups and driving innovation within the industry. Under the agreement, Cedar-IBSi FinTech Lab will extend discounted access to its cutting-edge services and platforms to startAD members. Moreover, startAD companies will have the exclusive opportunity to pitch their ideas and solutions to Cedar Capital, an early-stage FinTech-focused venture capital fund that is part of the wider Cedar group.
Commenting on the partnership, Sahil Anand, Director of Cedar-IBSi FinTech Lab, said, “We are very excited to kick this off with startAD and the wider NYU Abu Dhabi community. Cedar-IBSi’s research and consulting experience in the region, combined with startAD’s commitment to Abu Dhabi, will boost the FinTech knowledge and investing landscape in the region. We envisage multiple new intellectual properties being brainstormed together in collaboration with startAD in the times to come.”
In reciprocal support, startAD will introduce Cedar-IBSi FinTech Lab to promising companies and facilitate access to its infrastructure, allowing the Lab to establish a pop-up lab within startAD’s innovative ecosystem.
“This partnership will unlock opportunities for high-potential FinTech startups from the GCC and India to scale globally. Startups will be able to build smart strategies by running simulations, leveraging real market data and intelligence with access to Cedar -IBSi’s global FinTech labs. Further, startups will benefit from customized market access programs, avenues for network building, mentoring, coaching, and funding opportunities. startAD is looking forward to working with Cedar-IBSi to nurture cutting-edge innovations advancing the global financial sector,” said Ramesh Jagannathan, Managing Director of startAD.
Together, Cedar-IBSi FinTech Lab and startAD are poised to build a thriving FinTech ecosystem in Abu Dhabi, where startups can flourish, collaborate, and drive advancements in the financial technology landscape.