URB has announced the launch of a first-of-its-kind incubator for sustainable cities, an R&D programme focusing entirely on developing new solutions for the next generation of sustainable cities across the world which includes urban-tech.
An innovative company based in Dubai Design District, URB said the objective was to make it more than a research platform. The company will be transfering its sustainability know-how whilst engaging with the best minds in the world, to create an innovation hub centred around sustainable cities.
In a major boost to the Dubai-based group's innovative growth plan, India-based Anthill Capital Ventures has pledged a $10 million investment as well as support in scaling up solutions in urban-tech.
Baharash Bagherian, the Chief Executive Officer of URB, who has been the brain behind the designs of several ongoing sustainable city projects, said the partnership with Anthill Capital Ventures was significant for the group to scale up its R&D programme.
"Innovation is at the heart of everything that we do. Research & development are the backbone to creating the next generation of sustainable cities. As such the incubator is at the heart of our company, which makes this partnership in R&D an important milestone," stated Bagherian.
"It will enable us to grow urban-tech solutions at a much larger scale, as well as provide investment opportunities to innovators that are tackling some of the most critical issues related to sustainable cities. This partnership will provide various opportunities for a new breed of innovative companies that require a platform to grow rapidly. Ultimately it will help us in our mission to accelerate the world’s transition towards sustainable developments," he added.
Sailesh Sigatapu, Partner at Anthill Capital Ventures, said: "We are delighted to partner with URB in our shared vision of enabling cities that are smart, sustainable, and responsive to citizen needs. Anthill supports bold entrepreneurs in the urban technology space who have scaled immensely."
"During the past year we had supported our urban tech portfolio to raise combined $14 million in early stage funding, expand to two new geographies each, on average, and activate marquee clients across business and government. We are certain that our partnership with the URB incubator will result in further opportunities for path-breaking, global urban technologies to scale in India," he added.-TradeArabia News Service
