MoU signed to develop 500 Spaces

500 Startups, Abu Dhabi Financial Group, and GS SHOP have signed a Memorandum of Understanding, to collaborate for building a platform for innovation hubs and co-working spaces, called “500 Spaces”.

Pooling the expertise of all three, 500 Spaces will be designed to capitalise on the growing worldwide demand for co-working spaces. Krypto Labs is a party to the agreement, and will be lending its operational expertise to see the project come to life.

500 Spaces is being designed to offer a complete and sustainable ecosystem entrepreneurs and startups to innovate and grow. In addition, it will also be a space that is open to accelerators and mentorship programmes.

It will also launch a $100 million fund in order to grow the business model and market the brand, so as to take it beyond the Middle East to other regions of the world, such as the United States, Asia, Europe and North Africa.

Read more about it here.