UK energy firm Shell announced a three-month start-up accelerator programme for UAE energy companies.
Called Shell StartUp Engine, the initiative was announced at the UK pavilion at the Expo 2020 Dubai site and aims to train early- to mid-stage energy start-ups.
It will help companies develop their capabilities and boost business growth within the smart and clean energy landscape, a statement said.
“The programme reflects our commitment to support the UAE’s national agenda and the development of the country’s entrepreneurship ecosystem … we very much look forward to working with UAE based start-ups towards a cleaner, smarter tomorrow,” said Ali Al Janabi, vice president and country chair for Shell UAE.
The initiative is open to start-ups developing solutions within the three domains of “road to zero emissions”, “greener mobility” and “improved life essentials (water, food and shelter)".
It will follow the structured start-up support methodology already used by Shell to support start-ups in Singapore and Brazil, the statement said.
Abu Dhabi and Dubai are home to a number of start-ups that have based their headquarters in the UAE due to its business-friendly legislation.
Overall, start-ups in the Middle East and North Africa region registered record venture capital funding worth $2.6 billion last year through 590 transactions, a report by data platform Magnitt showed. About 35 start-ups announced exits in 2021, indicating a maturity in the region’s start-up landscape.
Shell said the initiative is designed to equip start-ups with the skills, connections and industry insights to scale fast. It will also connect them to mentors and global experts from the company.
Interested start-ups can apply for the programme until June 15, with final companies being selected in July and the programme start date scheduled for September. It will conclude with a demo day event in January 2023, during which companies can showcase their ideas and business models.
The programme has been designed and will be delivered in partnership with Startupbootcamp, the world’s largest network of industry-focused accelerators that help start-ups to grow and scale locally and internationally.