Ministry of Economy's NextGen FDI Program partners with Continuous Ventures to support the UAE's startup ecosystem

- Continuous Ventures brings specialized venture capital support to foster the growth of UAE based tech startups, aligning with the NextGen FDI program’s focus on knowledge driven economic development.

- The new partnership with NextGen FDI is designed to fast-track the maturation of UAE’s tech ecosystem, with a focus on disruptive sectors including med tech, AI, and sustainability.

- HE Al Zeyoudi: “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”

Abu Dhabi, UAE – October 28, 2024: The Ministry of Economy has announced that Continuous Ventures, an Ireland-based venture capital firm and accelerator that specializes in supporting high-potential startups in the tech space, has become a strategic partner to its NextGen FDI initiative, which seeks to attract pioneering global companies to the UAE. Continuous Ventures will support the initiative’s mission in three core ways: to use its knowledge to assess potential program entrants, to offer go-to-market strategies for recently onboarded companies, and to introduce their own start-ups to the initiative.

Founded in 2018 in Dublin but now seeking to expand from its new global headquarters in Dubai, Continuous Ventures offers a hands-on support model to early-stage companies, providing them with a suite of tools, resources, industry knowledge and mentorship. The firm, which has a strong focus on ESG investing, also provides operational guidance in areas such as market research, product development and financial hygiene, deploying a “teach-a-founder” approach. This dovetails with the NextGen FDI initiative’s role in accelerating the development of a supportive ecosystem for high-growth, high-potential companies.

According to His Excellency Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, the partnership underscores the UAE’s commitment to becoming a global leader in innovation and entrepreneurship: “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. As we accelerate our economic diversification efforts, our ability to nurture new ideas, new capabilities and new ventures, particularly in high-potential sectors such as med-tech, renewable energy, advanced manufacturing, agri-tech and trade tech, will support our ambition to develop an economy based on knowledge and innovation. The experience and expertise of Continuous Ventures will help NextGen FDI companies leverage the opportunities in the local and regional market but introduce new enterprises to our growing network.”

Colin Meagle, Founding Partner of Continuous Ventures, emphasized the UAE’s unique position as a launchpad for innovation and entrepreneurship: “The UAE is an ideal base for our headquarters due to its forward-looking approach to technology and innovation. Through our partnership with NextGen FDI, we can help homegrown startups compete on a global stage, transforming local ideas into world-changing companies. This collaboration marks an exciting new chapter for us, and we’re honored to contribute to the UAE’s journey towards becoming a world leader in tech innovation.”

Continuous Ventures will initially support  high-potential UAE-based startups within its  Dubai and Abu Dhabi offices, with plans to expand into a larger campus-style facility in DIFC as the program scales with client and investment partners. The firm’s mission goes beyond funding; they aim to build a culture of excellence by fostering a collaborative environment where entrepreneurs can interact with industry veterans, refine their ideas, and work towards their next milestone. They will further support the UAE’s start-up ecosystem by introducing their A, B and C investment partners to the region.

Launched in 2022, NextGenFDI aims to support the growth of the nation’s knowledge-driven economy by attracting high-growth and high-potential companies to relocate to the UAE. To date, the program has welcomed companies operating in future-focused sectors such as robotics, precision fermentation, hybrid aviation and off-grid concentrated solar power.