On Feb. 6, Ramesh Jagannathan, Managing Director of startAD, and Peter Baumgartner, the CEO of Etihad Airways signed a Memorandum of Understanding. The agreement aims to symbiotically develop the entrepreneurship ecosystem in the UAE through the exchange of knowledge, expertise and training between the two companies. Jagannathan, who is also Vice Provost for Innovation and Entrepreneurship at NYU Abu Dhabi, described this agreement as a way to transform Abu Dhabi and the UAE into an “entrepreneurial powerhouse on the global stage.”

Etihad Airways expects to gain a competitive advantage over other airline companies by having access to the newest innovations. StartAD, on the other hand, is to receive aviation expertise and mentorship from one of the leading airline companies in the world. Their overarching aim is to collaborate and improve innovation in Abu Dhabi, thereby enhancing the popularity of the destination.

“Etihad is committed to driving innovation. It is part of our DNA, our brand and our customer promise. We are also ultimately committed to foster[ing] innovation in partnership – creating an innovation ecosystem with[in] Abu Dhabi and UAE entities,” said Baumgartner.

StartAD is an innovation and entrepreneurship platform funded by the UAE government that assists startups in their development process. StartAD offers core programs and education initiatives relevant to all business players, be it investors or early-stage entrepreneurs and provides them with expertise as well as more tangible resources they could employ to further their businesses.

StartAD will present Etihad Airways with early access to the highest quality startups in the key focus areas of the airline. This will function through the Venture Launchpad program conducted by startAD, which takes place for 10 days and includes 20 to 25 startups. The program includes important information, online resources and tools useful for startups in fintech and hardware and provides opportunities to pitch their businesses to investors. These startups will also have the prospect of building relationships with Etihad Airways professionals and partner institutions.

Etihad Airways will provide these startups with expertise on aviation-related matters as well as logistics, big data and cargo transportation. Their contribution will also extend to the provision of mentorship to startups through the Venture Launchpad program, the Beyond the Pitch program which helps UAE youth transform their ideas into scalable businesses, and startAD Advance. In return, Etihad Airways’ innovation and entrepreneurial initiatives will receive advice from startup professionals regarding design and organization.

Though startAD and New York University Abu Dhabi are entirely separate entities, there is a level of interaction between them; startAD is based in NYUAD and it involves members of the NYUAD community in positions ranging from various team members to Managing Director.

Jonathan Lee, Class of 2021, who is on the startAD’s Social Media and Marketing Team, provided his insights into what the Memorandum of Understanding means for the platform.

“The memorandum between startAD and Etihad Airways is crucial to startAD because of how huge Etihad Airways is as an organization, and how much motivation that provides startAD to keep up with that partnership. It is a privilege to work with such a company. I believe it could increase our engagement and reach because Etihad Airways is a big company with a lot of publicity,” said Lee.