Abu Dhabi-based Ovasave is on a mission to empower women to take control of their fertility. Founded by Torkia Mahloul and Majd Abu Zant, the startup seeks to ease the complexity of freezing eggs while encouraging women to start testing their ovarian reserves at thirty years of age to improve their chances of becoming pregnant in the future.
Ovasave’s digitized process is centered around a $100 FDA-approved self-administered home hormone test, followed by a remote consultation by a doctor from a vetted fertility clinic network. Depending on the results and the consultation outcome, patients can opt for an egg-freezing package from one of the clinics in the network.
“Access to fertility services is a major issue. Women are delaying having children, so their fertility is declining, but they are not acting on it because of a lack of awareness […] and because the fertility journey is fragmented and complex,” Ms Mahloul says.
Recent changes to reproductive health laws in the United Arab Emirates now allow single and married women to preserve eggs for both social and medical reasons (including pursuing education or career advancement or undergoing cancer treatments).
According to co-founder Abu Zant, freezing eggs costs around Dh25,000 per cycle, with storage averaging another Dh1,500 per year. In the UAE, frozen eggs can be legally stored for five years, with an option to extend by an additional five years.
Ovasave is partnering with eight UAE fertility clinics and twenty IVF specialists. Users will be able to rate doctors so that other women can compare the reviews when they book a consultation.
So far, the co-founders have invested $400,000 into the startup and are seeking to raise up to $2 million over the coming six months. The funds will be used for technical development, recruitment, and general market growth.
Abu Dhabi’s Hub71 To Help Climate Technology Startups
The initiative was announced at the COP28 summit and will help selected startups with a $200,000 cash injection and further incentives.
Hub71, Abu Dhabi’s global technology system, has launched a new initiative to support climate technology startups backed by several of the UAE’s largest public and private sector organizations.
A total of 342 startups have submitted applications so far, with the top companies being added to a shortlist that will be revealed shortly. Selected startups will receive Dh250,000 ($68,000) in incentives and an upfront cash support package of Dh250,000. In addition, the top performers of Hub71’s new initiative will also receive a top-up of up to Dh250,000 in exchange for additional equity.
Ahmad Alwan, deputy chief executive of Hub71, said: “This initiative aims to bring in different entities that have a shared mission towards climate tech […] Throughout the journey, we will support these companies, not only from being startups to becoming mature companies but also to facilitate their engagement with entities that would support them with access to capital, market, and talent”.
The Hub71+ ClimateTech ecosystem is backed by the Abu Dhabi National Energy Company and the National Central Cooling Company, who have each pledged Dh500,000 to the initiative as anchor partners.
They are joined by corporate partners, including Abu Dhabi holding company ADQ, Aldar Properties, sovereign wealth fund Mubadala, First Abu Dhabi Bank, Masdar City, and Dubai’s Emirates NBD. In addition, Siemens Energy is also onboard as an anchor partner.
So far, Hub71 has helped 260 member startups and created over 1,000 jobs, according to the organization’s website. In addition, it has collectively raised around Dh5 billion since its foundation in 2019.