Mumbai (Maharashtra) [India], November 24 (ANI): Startup founders expressed optimism about the upcoming opportunities in the markets of the United Arab Emirates (UAE) and adjacent geographies, on the sidelines of the Abu Dhabi Investment Forum (ADIF) in Mumbai.
On the sidelines of ADIF, Hub71, Abu Dhabi’s global tech ecosystem, has signed a strategic partnership with the UAE-India CEPA Council, a bilateral platform established under the UAE-India Comprehensive Economic Partnership Agreement (CEPA) to accelerate trade, investment and innovation.
The partnership operationalises the innovation agenda of the UAE-India CEPA by creating an end-to-end pathway for high-potential Indian startups to enter, validate and scale in Abu Dhabi.
Through this initiative, Hub71 will support the UAE-India CEPA Council’s flagship Start-Up Series by providing structured market-entry support into the emirate of Abu Dhabi, according to a release.
Hub71 will onboard the five winning startups selected through the Series, which will hold its finale in New Delhi on 25 November, into the Hub71 Immersion Programme. The newly launched programme is designed to fast-track market entry for startups by combining a virtual onboarding to build market readiness with in-person sessions in Abu Dhabi.
At the UAE-India Start-up Series held alongside the event, participating founders expressed optimism about the opportunities the platform offers.
Mayank Khurana, who represents a startup called Data Sutram, said, “The mix that they have created to give insights on the UAE markets and the demographic is really exciting.”
Jeet Karmakar, Co-Founder and CTO of sports technology startup StepOut, said the company–now among the top 20 selected startups–is looking forward to an intensive two-day schedule.
“We majorly work with sports teams and help them improve their performance and identify the right talent… Apart from the pitch competition, I believe it’s going to be a very good experience,” he said.
Rehan, Chief Marketing Officer of BioReform, highlighted the importance of the UAE market for the company’s plastic alternatives, noting that the UAE began its single-use plastic ban journey in 2022.
BioReform Founder & CEO Mohammed Azhar Mohiuddin added that making it to the top 20, “It’s like a dream come true for us because we have been chasing this for more than one year now. And finally, we are in the top 20,” he added.
Mohmmed Haseeb, Strategic Country Manager at RAKEZ, said supporting the Start-up Series is a “natural step,” noting that India-UAE trade crossed around USD 100 billion last year, including USD 65 billion in non-oil trade. He said RAKEZ provides startups with an “excellent launch pad” to scale across the UAE, GCC and beyond.
Shreyans Nahar, Founder and CEO of Finsire, described the platform as a strong opportunity for expanding the company’s securities-based lending infrastructure. “Finsire is a digital infrastructure for securities based lending. We are a middleware between large lenders and large distributors across India. We manage most of the private banks today and it’s pretty exciting because a similar structure across the globe is possible,” he said.
As part of its role, Hub71 will deliver curated knowledge sessions, provide mentorship and connect the startups with the Abu Dhabi tech ecosystem.
In addition, from the five winning startups, Hub71 will select one startup to be onboarded into the Access programme.
By joining Access, the selected startup will also gain structured entry into Abu Dhabi’s tech ecosystem, including tailored soft-landing that enables the company’s founders to explore market opportunities, engage with key stakeholders and identify viable pathways for long-term growth across the region. (ANI)
