fund "Brissit- Sunrise 1" It aims to invest in 30 artificial intelligence companies during its first stage
Abu Dhabi, September 24 / WAM / Mahmoud Adi, the founding partner of Shorouk Company, confirmed that the joint global fund that was launched yesterday with the “Brissit” company to invest in artificial intelligence innovations of $ 100 million, represents a qualitative shift to support startups and enhance the innovation system in the UAE and the region.
He added in a statement to the Emirates News Agency “WAM”, that the first stage of the “Prizeet-Shorouk 1” fund aims to invest between 25 and 30 startups in the field of artificial intelligence and deep technologies, with the allocation of up to 40% of the fund’s size for subsequent tours to support companies that prove their ability to expand.
The founding partner of the sunrise said that the fund aims to enable the largest possible number of promising companies capable of creating a tangible and sustainable impact in the vital sectors.
On the most prominent tools and counseling programs that will be provided to entrepreneurs to enable them to reach new markets, Uday explained that “Shurooq” will provide through the “added value” team an integrated program package that includes the strategic counseling program at the level of the business model and market entry, and the human capital support program through a network of global competencies to help companies attract appropriate talents.
He added that the financial and strategic consulting program will also be provided to help artificial intelligence companies to build strong and sustainable structures, as well as providing the media relations program and building reputation through the regional and international media network to enable companies to gain market confidence and accelerate their growth, in order to enhance the opportunities of emerging companies to reach new markets and establish their international presence.
He pointed out that the partnership with “Brissit” gives emerging companies unique advantages that are not limited to financing, but also to benefit from an advanced infrastructure in the areas of cloud and processed computing through GPU units and safe data environments, along with the wide G42 network, which contributes to accelerating its growth and expansion locally and globally.
He stressed that the initiative reflects the role of the UAE as a driving force in the revolution of artificial intelligence, by combining strategic capital, advanced infrastructure and the distinguished geographical location that connects the East with the West, which establishes the state’s position as a global center to develop and export innovative solutions capable of bringing positive transformations in the business sector and societies worldwide.
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