Adeeb Ahamed

The Start-Up City: Venture, Scale-Ups and the Talent Trade

The core message of the discussion was that Abu Dhabi’s start-up and scale-up proposition depends on combining human capital, available capital, infrastructure, customers, research depth, and strategic partnerships into one operating environment. The moderator framed the session around what founders, investors, and partners need from Abu Dhabi to build companies “from here that can scale internationally,” especially in deep technology and research-led businesses. Adeeb Ahamed opened with Lulu Financial Holdings as a case study: a business founded in Abu Dhabi and expanded into an international operation spanning 10 countries. He argued that talent is the central ingredient, and that Abu Dhabi’s long-standing livability, capital availability, policy confidence, logistics, and demographic diversity have helped companies attract people and test products locally before scaling outward. Ahamed emphasized the practical value of Abu Dhabi’s population mix, saying the city has around 140 nationalities. For Lulu Financial Holdings, that diversity made Abu Dhabi a place to identify customer friction points, create new product lines, test them, refine them, and then take them to other markets. The conversation then shifted to Yaser Redha Alyousuf and the Abu Dhabi Residents Office. He described ADRO’s role since 2020 as focusing on attraction, retention, and growth of residents, including investors, talents, and artists. His point was that attraction is only the first, transactional step; the harder task is making Abu Dhabi feel like home for people, their families, children, and even pets, supported by communities and developments such as Hudayriyat, Yas, and Saadiyat. The investor lens came from Nakash Tariya of PGIM, who set out four broad categories for distinguishing an interesting idea from an investable company. He started with “problem intensity”: whether the problem is urgent, expensive, budgeted, and owned by a decision maker. He then pointed to defensibility beyond patents, including data access, distribution, regulation, and switching costs. He also stressed commercial efficiency, the fit between capital requirements and addressable market, and the need to prove that pilots can become procurement, renewal, margin, and scale. His warning was direct: strong technology can fail when paired with a weak business model, while average technology can succeed with a great business model. Redha Nidaku then located Venture One inside Abu Dhabi’s broader shift from tech investor and enabler, to early adopter, to “tech maker.” He tied this shift to academia, emerging groups such as Edge Group and G42, large-scale adopters such as ADNOC, and government-backed applied research through ATRC. He said ATRC had attracted more than a thousand researchers in five or six years, working across AI, robotics, water tech, quantum computing, and related areas. The examples he gave included Falcon large language models, post-quantum cryptography work, AI71 supporting government process transformation, Quantum Gate preparing critical companies for the quantum era, and Nabat AI using drones to seed mangroves across thousands of hectares in Abu Dhabi.