Social impact, artificial intelligence, and financing rounds top the scene on the third day of "Expand North Star"
Dubai, October 14 / WAM / Expand North Star, the largest global event that brings together startups and investors, held within GITEX Global, continued its innovation journey on its third day in Dubai Harbour.
According to a press release issued today, the attendees learned about the importance of the technology system with a social impact in the UAE, how new data center equipment can reduce energy consumption, and why artificial intelligence governance can enable entrepreneurship in emerging economies, in addition to other prominent topics.
The 10th edition of Expand Northstar will continue over four days until October 15, attracting 2,000 exhibiting startups and more than 1,200 investors with total assets under management exceeding $1.1 trillion.
Today, Expand North Star received His Excellency Salem Ali Al Shamsi, Executive Director of Social Work Incubators and Contracts at the Community Contributions Authority “Ma’an”, and after his participation in the “Fireside” session, which highlighted the role of “Ma’an” in empowering the next generation of entrepreneurs with a social impact, His Excellency honored Nesma Amin and Amin Abu Dhiab, the winners of the joint competition between “Ma’an”. And Expand North Star, which invited young social entrepreneurs to innovate solutions to the most prominent current social challenges.
He said that social entrepreneurs today provide solutions that support society, and by uniting efforts and new ideas, these innovative solutions will create the sustainable impact we seek.
While about 40% of the energy used in AI data centers is burned as waste heat, Estonian entrepreneur Taavi Madibirk, CEO and co-founder of Skeleton Technologies, has created an innovative graphene-based dual-layer battery solution that helps smooth out peaks in energy demand, a major source of energy waste.
In addition to higher efficiency, the company’s environmentally friendly supercapacitors do not contain lithium, cobalt, or manganese, which contributes to making the global AI infrastructure more sustainable, Madeberk said.
After the company entered into partnerships with major players in the United States and Europe, he pointed out that the Gulf countries are also pivotal markets, pointing out that renewable energy here is growing at the fastest rates in the world, and any technology company that is serious about innovation must be in the Gulf.
The third day of Expand North Star witnessed the signing of a package of partnership agreements by Mobility Fintech Group on the financial technology solution supported by artificial intelligence and directed to serving the automotive sector. During a high-level signing, Ahoy Technology announced its investment of US$2 million in MFG, confirming its commitment to supporting innovation and developing digital infrastructure in the region.
Another partnership was concluded with Mawarid Finance, whereby credit facilities for car rental and fleet management companies will be integrated within the MFG platform, contributing to enabling small and medium-sized companies to access financing through this vital system in the Emirates.
The company also partnered with “Mozyed” to benefit from the accounting package enhanced by artificial intelligence and the electronic invoicing readiness platform, to support the system of small and medium enterprises in the mobility sector in the Emirates, and to simplify financial management and operations.
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