Abu Dhabi bets on diversifying the economy and focuses on the development of industry and entertainment. For this reason, Abu Dhabi has confirmed the launch of Ethara 1TW Innovation Hub (E1H), a pioneering innovation center by Ethara and OneToWatch, which will be aimed at entrepreneurs dedicated to esports.
The authorities of Ethara and OneToWatch, who are behind this new initiative, confirmed that this project will support new entrepreneurs in developing within this field in the United Arab Emirates or in other countries, applying their experience in sports and entertainment in the region.
Why E1H is important in Abu Dhabi
Ethara and OneToWatch partnered to provide another tool for diversifying the economy in the United Arab Emirates. As Gulf News reports, the idea behind forming the Ethara 1TW Innovation Hub (E1H) is that everyone in Abu Dhabi can develop a startup focused on sports or entertainment.
The need to establish a space of this kind arose after the success of Formula 1 and Coldplay concerts, which created the necessity to expand services with systems that contribute to fan interaction, venue technology, sustainability, and digital experiences. The sports industry, such as motorsports, and the entertainment industry (thanks to the series of concerts held in Abu Dhabi) are constantly evolving in the city and are important to exploit.
What will be E1H’s role in Abu Dhabi
Ethara and OneToWatch confirmed that this innovation center will be an exclusive service for entrepreneurs who aim to develop in this field. The E1H will include a six-week program featuring mentorship, industry expert classes, training events, co-working spaces, and opportunities to present to major investors.
The training system of this space will be ongoing, with weekly classes where attendees can learn about capital raising, refining a business model, and everything necessary for businesses to grow expertly. These companies will offer the chance to access their network of partners, where participants can present their projects to local and international investors.
Abu Dhabi, the next global sports hub
Abu Dhabi is consolidating itself as an epicenter for major sporting events, so the arrival of the E1H initiative can help explore new areas of investment. The previously mentioned companies are spearheading a 52-week program, called Xcelerator, dedicated to companies seeking to develop their business in the capital of the United Arab Emirates.
With this project, the companies ensure access to mentorships, networking opportunities with industries and investors, and the promotion of entrepreneurs to grow in this sector of the economy, with modern ideas that focus on increasing projects of this kind. For this reason, E1H aims to enhance fans’ experiences, implement more health and wellness programs, technology, esports, gaming, and content.
