Business

Three technology-based startup companies, Kinteract, Justice Chain, and Addenda, have turned their innovative solutions to support communities and businesses in reducing the effects of COVID-19 pandemic. The three companies are members of the Mohammed bin Rashid Innovation Fund (MBRIF), an initiative unveiled by the Ministry of Finance to promote and foster innovation in the UAE.

Kinteract, an education-technology platform for ceaseless learning, is aiding parents, teachers, and schools by offering free access to its remote learning solutions to the schools impacted by COVID-19 for the rest of the academic year. The companys platform has been followed by leading educational institutions throughout the world. Kinteracts unique technology brings teaching, learning, real-time communication such as video lessons, and data dashboards together in one place for convenient and complete assessment of student progress and instant dialogue between teachers, students and parents. Commencing this week, Kinteract is also enlarging its access outside of schools, enabling sports centers, instructors and coaches to use the platform through task setting and video streaming.

Justice Chain, a blockchain platform centered on public safety, has developed a blockchain application that anonymously tracks COVID-19 patients, sharing real-time critical case information safely with related health providers, clinicians, government authorities, researchers and laboratories. Additionally, it links medical suppliers and donors with hospitals to streamline the medical supply-chain, helping with supply shortage issues seen worldwide. The platform targets to aid by offering patients with instant care and attention, visibility into the hospital resource status, and enables authorized suppliers of medical equipment (e.g. respiratory equipment) and personal protective equipment (e.g. masks, gowns) to track in real-time, the demand from hospitals, labs and treatment facilities. The application, called CoronaChain, has just revealed and will be free to use for the above-mentioned sectors.

Addenda, a blockchain-based start-up using distributed ledger technology to streamline processes between insurance companies, has provided free access to its services to UAE-based new joiners during the month of April. The companys tech solution will enable companies to process motor claims digitally instead of on paper, so that insurance company workers can work safely from home.

Her Excellency Mariam Mohammad Al Amiri, Assistant Undersecretary for the Management of Financial Resources, stated that, Members of the MBRIF are desired based on their ability to change the world as we know it for the better. The work of Kinteract, Justice Chain and Addenda during a time when the world is experiencing unprecedented difficulties is exemplary of how companies of all sizes have the ability to make a positive economic and social impact. This also assures the significance of supporting a strong startup ecosystem in the UAE and throughout the world.

Since its inception, the MBRIF has established an ecosystem of international experts and partners that offer member companies with access to cost-effective funding, global services, and mentorship. The initiative assists companies speed up their innovations, improve their capabilities, unlock value, and scale their businesses. The member companies, which include startups and SMEs, have achieved considerable progress and growth, which includes scaled operations, expanded footprint and revenue, securing funding, and winning prestigious industry recognitions.

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