The Lab Holding, a new DIFC-based hospitality group, has announced the launch of two new food-tech startups through its startup studio. The Lab Holding intends to offer an ecosystem of hospitality and food technology solutions, with the goal of addressing the issues that enterprises in the food and beverage and technology industries confront.
The company aims to serve the venture building and growth market by using the experience of its startup studio members to decrease revenue risk and cost and resource duplication for startups. Working with entrepreneurs of the future, the company looks to further expand its regional expertise in the food tech sector in the next 5 years.
Its vision is to help serial entrepreneurs locally and internationally to scale fast and test as many products as possible in 6-9 months in the local market. “During the Covid-19 pandemic in 2020, food tech solutions became indispensable, and launching businesses in the digital sector that adapt quickly with the forced change behavior of the masses could not be ignored. The Lab Holding looks forward to the future as it showcases its knowledge and experience of the market by creating solutions for companies and consumers alike,” said Ahmed Saleh, CEO of the Lab Holding.
“The initiation of F&B / hospitality focused startup studio will help small ventures get established and implement their business strategy effectively, efficiently by leveraging the internal compiled expertise of its members and provide a minimum risk to investors,” says Tarek Taji, the portfolio manager at The Lab Holding.
Earlier this year, the Food Tech Valley was launched by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, in a partnership between the Ministry of Food and Water Security and Wasl Properties to explore urban planning of future smart and food independent cities.
The initiative that aims at helping the UAE meet its National Food Security Strategy 2051 targets, will – in the initial phase of its launch – focus on strategic projects to achieve food self-sufficiency while ensuring sustainability and conservation of resources, said Mariam Almheiri, Minister of State for Food and Water Security.
The Food Tech Valley will be home to four main clusters: agricultural technology and engineering, a food innovation center, R&D facilities, and an advanced smart food logistics hub.