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On February 6, startAD Managing Director Ramesh Jagannathan and Etihad Airways CEO Peter Baumgartner signed a memorandum of understanding. The agreement aims to symbiotically develop the UAE’s entrepreneurial ecosystem through the exchange of knowledge, expertise and training between the two companies. Jagannathan, who is also NYU Abu Dhabi’s vice provost for innovation and entrepreneurship, described the agreement as a way to transform Abu Dhabi and the UAE into “an entrepreneurial powerhouse on the global stage.”
Etihad Airways hopes to gain a competitive advantage over other airlines by accessing the latest innovative technologies. StartAD, on the other hand, will receive aviation expertise and guidance from one of the world’s leading airlines. Their primary goal is to collaborate and improve innovation in Abu Dhabi, thereby increasing the destination’s popularity.
“Etihad is committed to driving innovation. It is part of our DNA, our brand and our customer commitment. We are also ultimately committed to nurturing[ing] Collaborative innovation – creating an innovation ecosystem[in] Abu Dhabi and UAE entities,” Baumgartner said.
Etihad Airways will provide these startups with expertise in aviation-related matters as well as logistics, big data and cargo transportation. Their contribution will also extend to providing mentorship to new startups through the Venture Launchpad programme, Beyond the Pitch programme, which helps Emirati youth transform their ideas into scalable businesses, and startAD Advance. In return, Etihad Airways’ innovation and entrepreneurship programs will receive advice from entrepreneurial professionals on design and organization.
Although startAD and NYU Abu Dhabi are completely independent entities, there is a certain degree of interaction between them; startAD is headquartered at NYUAD and involves members of the NYUAD community, with positions ranging from various team members to general managers.
Jonathan Lee, a 2021 graduate of startAD’s social media and marketing team, gave his insights on what the MOU means for the platform.
“The MoU between startAD and Etihad Airways is crucial for startAD as Etihad Airways is a massive organization and provides startAD with a huge incentive to maintain this partnership. With a company like this It’s an honor to collaborate. I believe it can increase our engagement and impact because Etihad is a big company with a lot of publicity,” said Lee.
Shalini Corea is deputy news editor. Email her at feedback@thegazelle.org.
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