The Covid-19 crisis has put considerable strain on startups, impacting everything from supply chains to mobility. Without the deep pockets that tech giants have, many startups are still coping with the shock of the pandemic.
Yet, the importance of innovation in technology is heightened and the technology sector has been thriving throughout the crisis. A development that was recognized by the UAE government and further underpinned by the appointment of the Minister of Industry and Advanced Technology, His Excellency Dr Sultan Al Jaber, the Minister of State for Artificial Intelligence, Digital Economy and Remote Working, His Excellency Omar Al Olama, and the Minister of State for Entrepreneurship and SMEs, His Excellency Ahmad Belhoul.
Startups with a mindset of embracing new technologies have been on the forefront of Abu Dhabi’s digital transformation even throughout the pandemic. One example is Hub71’s Addenda, an innovative insurtech startup that uses blockchain technology to speed up motor insurance claims, is now pivoting its business model to offer rewards for safe drivers.
It is in times like these, businesses, governments, and entrepreneurs are reassessing their approach to technology, the digital economy and transformation. This mindset will allow them to grow.
The UAE’s capital has heavily