NextGen FDI Programme Collaborates With Continuous Ventures To Boost UAE Startups

The Ministry of Economy has revealed a new partnership with Continuous Ventures, a venture capital firm from Ireland. This collaboration is part of the NextGen FDI initiative aimed at attracting global companies to the UAE. Continuous Ventures will contribute by evaluating potential programme participants, offering market strategies, and connecting their startups with the initiative.

Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, highlighted the UAE's dedication to becoming a leader in innovation and entrepreneurship through this partnership. "This collaboration with Continuous Ventures will play an important role in our efforts to make the UAE the destination of choice for pioneering enterprises at every stage of their growth journey," he stated.

Continuous Ventures plans to support high-potential startups in Dubai and Abu Dhabi initially. As the programme grows, they aim to expand into a larger facility in DIFC. The firm focuses on ESG investing and offers guidance in areas like market research and product development through a "teach-a-founder" approach.

Colin Meagle, Founding Partner of Continuous Ventures, expressed enthusiasm about establishing their headquarters in the UAE due to its progressive stance on technology and innovation. He said, "The UAE is an ideal base for our headquarters due to its forward-looking approach to technology and innovation."

The firm was founded in 2018 in Dublin but is now expanding from its new global headquarters in Dubai. It provides hands-on support to early-stage companies, equipping them with tools, resources, industry knowledge, and mentorship. This aligns with NextGen FDI's goal of creating a supportive ecosystem for high-growth companies.

Dr. Al Zeyoudi noted that Continuous Ventures' expertise would help NextGen FDI companies seize opportunities in local and regional markets while introducing new businesses to its network. The partnership aims to nurture sectors like med-tech, renewable energy, advanced manufacturing, agri-tech, and trade tech.

Building a Collaborative Environment

The mission of Continuous Ventures extends beyond funding; it seeks to cultivate excellence by fostering collaboration among entrepreneurs and industry experts. This environment allows entrepreneurs to refine ideas and work towards milestones while supporting the UAE's startup ecosystem by introducing investment partners.

"Through our partnership with NextGen FDI, we can help homegrown startups compete on a global stage," Meagle added. This collaboration signifies an exciting chapter for Continuous Ventures as they contribute to the UAE's ambition of becoming a world leader in tech innovation.

This strategic alliance underscores the UAE's commitment to economic diversification by nurturing new ideas and ventures. By leveraging Continuous Ventures' experience, the initiative aims to develop an economy rooted in knowledge and innovation.

With inputs from WAM