The Mohammed Bin Rashid Innovation Fund (MBRIF) has selected 10 local and global businesses, including Oasis Insurance Group’s online platform InsureAtOasis, for its Summer Cohort MBRIF Accelerator programme.
The 10 entities, who will join the programme’s current 19 businesses, were chosen from a total of 159 applications from 38 countries across seven key sectors, including technology, health, space, water, clean energy, transport and education.
Mr Younis Al Khoori, undersecretary at the Ministry of Finance, which launched the MBRIF, said the Fund will work with the selected companies to help them develop their businesses into successful ventures that benefit their communities and help the UAE achieve its vision of being one of the world’s most innovative nations.
Launched in 2018, the MBRIF Accelerator programme offers members access to various services and coaching from global experts to accelerate their innovations and elevate their capabilities. Businesses applying to the programme can be based locally or internationally, as long as they plan to operate and grow in the UAE.
Commenting on being selected as part of the accelerator programme, Mr Sridhar Subbaraman, founder and owner of Oasis Insurance Group said, “It is an acknowledgement of the innovation and disruption in the insurance e-commerce arena in the UAE…we are committed to further our offerings and continuously innovate to bring about social and economic value to the country. The MBRIF evaluation process itself was a great learning tool, and we are excited to be part of further learning and looking forward to opening to newer vistas and opportunities.”
InsureAtOasis is a fully transactional insurance e-commerce platform operating out of the UAE with plans to expand in the region and the sub-continent. Arab Orient Insurance, Oman Insurance, Al Wathba National Insurance, Noor Takaful (General & Family), The New India Assurance Co and Qatar Insurance Co are the participating companies on the platform. M