Dubai Launches TradeTech Accelerator to Propel Global Trade Innovation

The TradeTech Accelerator, unveiled by Thani Al Zeyoudi during the Global Future Councils 2024 in Dubai, is set to boost startups focused on trade sector technology. Partnered with Plug & Play, it aims to modernize logistics and trade finance by incorporating AI, preparing startups for a sustainable trade future.

Dubai, United Arab Emirates — In a significant step towards redefining global trade dynamics, Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, officially introduced the TradeTech Accelerator. This groundbreaking incubator is part of the UAE's TradeTech Initiative launched in collaboration with the World Economic Forum and the Abu Dhabi Department of Economic Development. The accelerator aims to support startups creating cutting-edge solutions to revolutionize logistics, customs, and trade finance procedures.

The announcement was made during the World Economic Forum's Annual Meeting of the Global Future Councils 2024 in Dubai, which attracts over 500 representatives from diverse sectors globally. Plug & Play, a prominent innovation platform with a track record in fostering startups, will partner with the accelerator to provide vital mentorship and collaboration opportunities. Companies focusing on AI solutions for the trade sector are invited to apply, with hopes that the inaugural cohort will conclude by March 2025.

Highlighting the UAE's commitment to technological integration in trade, Al Zeyoudi stressed the importance of innovation in developing a more resilient and accessible global trading system. Meanwhile, ADDED Chairman Ahmed Jasim Al Zaabi emphasized that the accelerator aligns with Abu Dhabi's strategic goals in supporting startups and technological advancements. This initiative is poised to simplify trade processes and bolster the UAE's position in international supply chains, catalyzing a sustainable future for global trade.

(With inputs from agencies.)