Miral partners with Plug and Play ADGM to nurture innovation among Travel & Hospitality startups

Abu Dhabi's creator of destinations will be a key supporter of the organization's new tech accelerator, founded for promising startups from across the globe

News provided by

Plug and Play

May 29, 2019, 03:00 ET

ABU DHABI, United Arab Emirates, May 29, 2019 /PRNewswire/ -- Miral, Abu Dhabi's creator of destinations, is a founding ecosystem partner of Plug and Play ADGM's (Abu Dhabi Global Market) new Travel & Hospitality tech accelerator in the MENA region.

This partnership will give Miral the chance to connect directly with startups through Plug and Play's international network, supporting the region's startups by sharing its expertise as a leader in Abu Dhabi's leisure and entertainment sector. In doing so, Miral will help nurture a culture among participating enterprises where constant innovation enables growth.

The agreement aligns with the vision set by Miral to position Yas Island locally and internationally as one of the top global destinations for entertainment and leisure, and to contribute to the diversification of Abu Dhabi's economy through tourism.

"Our role as a partner of the Plug and Play ADGM tech accelerator supports Miral's strategy of approaching every opportunity with an innovation-led mindset, and our goal to encourage others to pursue innovation of their own," commented Mohammed Al Zaabi, CEO of Miral. "Innovation provides a powerful competitive edge in the experience economy – and more specifically, our industry, as the ingredient that elevates a project from good to ground-breaking. By championing inventive thinking among travel and tourism startups, we can ultimately help to boost Abu Dhabi's appeal as an investment prospect," added Al Zaabi.

Plug and Play is a global innovation platform that connects startups to corporations and investors throughout the world. Their introductions help both startups and partner corporations thrive together through investments, pilots, acquisitions, and mutual growth. Plug and Play's network encompasses more than 10,000 startups in various disciplines worldwide, with over 280 corporate partners, and a presence in more than 25 locations globally.

"We are humbled and proud to partner with Miral and support them in positioning Abu Dhabi as one of the most attractive destinations internationally for both tourism and investment. Our ultimate goal is to source the most disruptive talent from across the globe to support Abu Dhabi's vision in becoming a regional hub for entrepreneurship and innovation," said Omeed Mehrinfar, Managing Partner - Middle East, at Plug and Play.

Plug and Play ADGM kicked off its first Fintech accelerator program in Q3 of 2018, supporting financial institutions across the region in achieving their innovation objectives and strengthening their competitive advantage.

Plug and Play's Travel & Hospitality Innovation Platform was founded in 2016 at its Silicon Valley headquarters, focused on discovering, supporting and scaling disruptive technologies that are reshaping the future of travel. Plug and Play leverages its global network to source startup technologies that increase revenue and lower costs, improve safety and security, build brand loyalty, and create seamless travel experiences for everyone.

The program will commence in Q3 of 2019, with the first batch of selected startups residing at ADGM.

About Miral
Miral is Abu Dhabi's creator of destinations, uniting people and places through unique, immersive and exciting experiences. Responsible for the development and management of Yas Island, Miral's assets encompass entertainment, hospitality, leisure, sport, dining, retail, and real estate destinations. Today, Yas Island is home to Ferrari World Abu Dhabi, Yas Waterworld, Warner Bros. World Abu Dhabi, Yas Links Golf Course, Yas Mall, Yas Marina Circuit, Yas Marina and seven hotels, including the flagship Yas Hotel. For more information, visit http://www.miral.ae

About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 25 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 10,000 startups and 280 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, and PayPal. For more information, visit www.plugandplaytechcenter.com

About Abu Dhabi Global Market
Abu Dhabi Global Market (ADGM), an international financial centre (IFC) located in the capital city of the United Arab Emirates, opened for business on 21 October 2015. Established by a UAE Federal Decree as a broad-based financial centre, ADGM augments Abu Dhabi's position as a global hub for business and finance and serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.

ADGM's strategy is anchored by Abu Dhabi's key strengths including private banking, wealth management, asset management and financial innovation. Comprising three independent authorities: ADGM Courts, the Financial Services Regulatory Authority and the Registration Authority, ADGM as an IFC governs Al Maryah Island which is a designated financial free zone. It enables registered financial institutions, companies and entities to operate, innovate and succeed within an international regulatory framework based on Common Law.

Since its inception, ADGM has been awarded the "Financial Centre of the Year (MENA)" for three consecutive years for its initiatives and contributions to the financial and capital markets industry in the region.* For more details of ADGM, please visit www.adgm.com or follow us on Twitter: @adglobalmarket and LinkedIn: ADGM

*The Global Investor Middle East and North Africa (MENA) Awards

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