In line with Abu Dhabi University’s (ADU) innovation strategy (ADUi), ADU announces the launch of its Sustainable Development Venture Lab in collaboration with Abu Dhabi Department of Economic Development (ADDED). The Lab, open to students, researchers, external entrepreneurs and innovators, seeks to grow sustainability-oriented entrepreneurial and innovation skills through tackling complex challenges in industry, services, primary sector and the government. The Venture Lab will offer an innovative space designed to help spin-offs, startups, companies and government agencies find more sustainable solutions to create or improve daily operations.
The Lab will comprise of five different zones, located on each of ADU’s campuses in Abu Dhabi, Al Ain, Al-Dhafra and Dubai, to service a specific area of entrepreneurship. The Networking Zones will help connect innovators with the local community as well as investors, companies and agencies in both the private and public sectors. The Market Study Zones will support in conducting market and competitors’ analysis and studying business terms as well as the financial aspects of the business, including a Bloomberg room and business modelling labs. The Design/Prototyping/Fabrication Zones will offer training, technical guidance and tools to develop hardware, service, software, process prototypes and solutions in top-technology engineering and visual labs.
Additionally, students will be given the opportunity to work with international leaders specialized in these fields to gain experience in building sustainable business models. The Incubation Zones will provide innovators with spaces equipped with business phones and internet access, in addition to dedicated areas where they can present their businesses and prototypes to potential investors. Lastly, the Venture Lab assigned a team of experts in business registration to provide guidance to students willing to register their businesses in the Lab.
With focus on sustainable growth, research-based business modelling and networking, the Venture Lab will help projects, spin-offs and startups fix growth blockages in previously perused initiatives and enable innovators to methodically evolve new projects. In addition to influencing a courageous and leadership business mindset where failure is an integral part of the route to success. The Venture Lab will aid businesses and startups with business model growth, prototyping, customer discovery and validation, incubation and leading to a successful launch.
In line with the UAE’s National Innovation Strategy which seeks to position the UAE as one of the world’s most innovative nations, ADU aims to expand the university’s innovation projects to pursue outstanding ideas that address governmental, social, private and domestic needs. The Venture Lab will incubate selected initiatives from ADU students, researchers and internal and external community members that balance validated novelty, replicability, impact, fast response, proactivity and agility in tackling immediate or highly demanded solutions that intersect with economic, social and environmental concerns.
Furthermore, the Venture Lab will focus on empowering women, individuals and communities, including youth, people of determination and elderly, by mentoring and coaching them throughout their journey. The Lab is focused on hosting sustainable and innovative initiatives that will empower minority groups to launch their own businesses.
Dr. Alberto Peralta Bellmont, Director of Innovation at Abu Dhabi University (ADU), said: “Through this incubator that we call Sustainable Development Venture Lab, we aim to nurture our innovators with the needed methods and tools that strengthen their entrepreneurial skills and prepare them to address complex and significant market and societal challenges. Startups, spin-offs and interested public and private organizations will also benefit from the Venture Lab through its customer, stakeholder discovery and validation environment that will support them in growing and expanding their projects. We are excited to welcome individuals and teams that are seeking support with their innovative ideas promoting, showcasing and exposing them to potential investors.”
The ADU innovation strategy (ADUi) combines a personalised approach with lessons learned from successful innovators and entrepreneurs through researching and promoting evidence-based practices. The initiatives within ADUi include programs, stand-alone events and relevant opportunities which will be accessible and available to all students, faculty and staff, and will include ADU communities of reference.
For more information about ADU's programs, visit: www.adu.ac.ae/home.
If you are interested in registering for ADU’s Venture Lab, visit: www.adu.ac.ae/adu-innovate.