New $100 Million Fund to Boost AI Startups in the UAE

Introduction to the Presight-Shorooq Fund I

A new investment initiative, the Presight-Shorooq Fund I, has been launched in the UAE with a substantial backing of $100 million. This fund aims to support between 25 to 30 startups focused on artificial intelligence (AI) and deep technology. Mahmoud Adi, the Founding Partner at Shorooq, has emphasized that 40% of the fund’s capital will be allocated for follow-up funding rounds, specifically targeting companies that show significant potential for scalability.

Empowering Promising Startups

The primary goal of this fund is to empower startups that can create a sustainable impact across various sectors. Adi highlighted the importance of nurturing companies that not only innovate but also contribute positively to the economy and society at large.

Comprehensive Support for Entrepreneurs

Shorooq is committed to providing a robust support system for entrepreneurs. This includes:

• Strategic Mentoring: Guidance on effective business models and market entry strategies.
• Human Capital Support: Assistance in attracting top-tier talent to build strong teams.
• Financial and Strategic Advisory Services: Help in establishing resilient company structures that can withstand market fluctuations.

These resources are designed to equip startups with the tools they need to thrive in a competitive landscape.

Enhancing Visibility and Reputation

In addition to financial backing, startups will gain access to media and reputation-building programs through Shorooq’s extensive regional and international networks. This exposure is crucial for emerging companies looking to establish their brand and attract further investment.

Advanced Infrastructure Access

The partnership with Presight offers portfolio companies a wealth of advanced infrastructure. This includes:

• Cloud Computing: Essential for scalable operations.
• GPU Processing: Critical for AI development and data analysis.
• Secure Data Environments: Ensuring that sensitive information is protected.
• G42’s Global Network: Providing a platform for international collaboration and growth.

Adi pointed out that this combination of resources is designed to accelerate growth opportunities for startups, both locally and on a global scale.

The UAE’s Role in AI Development

This initiative highlights the UAE’s increasing prominence as a leader in the AI sector. By blending strategic capital with advanced infrastructure, the country is positioning itself as a vital hub for innovation. Adi noted that the UAE’s unique geographic location serves as a bridge between the East and West, enhancing its appeal as a global center for technology and investment.

Conclusion

The launch of the Presight-Shorooq Fund I marks a significant step forward in fostering innovation within the UAE’s startup ecosystem. By focusing on AI and deep tech, this fund aims to support the next generation of companies that can drive sustainable growth and make a lasting impact on various industries.