Abu Dhabi introduces 12 new social start-ups to address financial literacy, education technology

Abu Dhabi: The Authority of Social Contribution — Ma’an — recently marked the completion of Ma’an Social Incubator’s (MSI) sixth Cohort and first of 2022, with 12 participating start-ups that have developed their business ideas within the MSI.

The sixth cohort was organised as part of the strategic partnership between Ma’an and startAD, the business accelerator based at New York University (NYU) Abu Dhabi.

Under the theme of ‘Entrepreneurship for Social Good’, the sixth Cohort helped equip these social entrepreneurs in the development of innovative solutions applicable to the financial literacy and education technology (EdTech) sectors. The event was attended by Dr Mugheer Al Khaili, chairman at the Department of Community Development (DCD) and Salama Al Ameemi, the Ma’an director-general.

Scaling up sustainable businesses

Twice a year, MSI selects promising start-ups and provides them with the resources and support to grow and thrive in their quest to develop high-impact solutions and scale up sustainable businesses that benefit society. The MSI’s record to date has already led to the incubation of 53 social enterprises and acceleration of 21 existing not-for-profit organisations. With its support, more than 40 start-ups have been licensed, or are in the process of securing licensing.

The sixth cohort was selected based on their creative proposals to develop projects that would enable the third sector to flourish in Abu Dhabi and inspire social entrepreneurs to contribute to the development of strong, active and connected communities and the growth and the diversification of the UAE economy.

“We are delighted to witness today the successful Demo Day of the Ma’an Social Incubator’s sixth cohort of 12 start-ups. With the support of the MSI and its partners, they have made great strides in bringing their inspiring and innovative ideas and projects to life and have tackled the challenges of financial literacy and education technology in ways that are destined to have genuine social impacts. It is crucial that we immerse ourselves in committing to initiatives that help flourish the Abu Dhabi community, which is why our MSI focuses immensely on the emirate’s social priorities, including financial literacy and education technologies. Both topics play a vivid role in our nation’s visionary future and will help impact our economy,” Al Ameemi said.

Social start-ups

• With a focus on financial literacy, Lune is an enterprise partnering with banks and companies to improve their customers’ financial literacy and well-being through simplified financial data and money management features.

• FinStart Arabia is a social-impact start-up that designs and delivers innovative, learner-centred and community-based financial literacy programmes to sustainably change Emirati youths’ and young adults’ financial behaviours.

• Cashee empowers and educates teens on how to manage their money so that they grow up to become financially responsible adults.

• Squirrel is a financial literacy platform for students that gamifies the money management and financial decision-making issues faced by adults daily.

• Edfundo is developing the UAE’s first money management app built by teachers for the benefit of children and teens.

• Reedz is a mobile app offering 20-minute Arabic audiobook summaries of the world’s best-selling books along with a podcast library.

• Tutoruu is a tutoring network connecting high-achieving undergraduate students with struggling peers in need of help.

• Skillplay helps students learn future skills, earn internships, certifications, and win exciting prizes by playing a daily one-minute game.

• Playbook is a global edutainment platform for women seeking leadership roles through a diverse digital academy of masterclasses.

• La Talli is a platform for displaying independent designers’ products, reflecting the UAE’s heritage, culture, traditions and art.

• Geek Express is the first MENA-focused, online technology school preparing children for the future job market with an accredited K-12 curriculum.

• Kam Kalima offers innovative learning spaces in helping today’s schools teach the Arabic language needed for tomorrow.

• The MSI’s impressive record to date has already led to the incubation of 53 social enterprises and acceleration of 21 existing not-for-profit organisations. With its support, more than 40 start-ups have been licensed, or are in the process of securing licensing.