Dubai Silicon Oasis (DSO) and India Innovation Hub on Monday announced a partnership with Indian online travel company EaseMyTrip and British investment bank HSBC to help 200 Indian startups pitch their business ideas and innovations to global investors at the ‘Expo 2020 Dubai.
Through this joint initiative, some of India’s top innovators and startups will have the opportunity to engage with their counterparts and key stakeholders at DSO and Expo 2020 Dubai, said Aman Puri, Consul General of the India to Dubai.
India Innovation Hub is a project of the India Pavilion at Expo 2020 Dubai where more than 500 Indian startups will be showcased. The project provides a platform to promote start-ups and innovators from India by giving them exposure to the global investment community through B2B events.
India Innovation Hub has made a significant contribution to the startup ecosystem by showcasing more than 240 startups at Expo 2020 Dubai, Puri said.
In line with the theme of Expo 2020 Dubai, “Connecting Minds, Creating the Future”, the India Innovation Hub, as part of the India Pavilion, will act as a facilitator for these start-ups, offering them a global stage to interact with investors. and global counterparts for networking and partnerships, the Indian Consulate General in Dubai said in a statement.
Priority areas to select startups will be Fintech, AI, cybersecurity, healthcare and technology platforms in key priority sectors. The announcement was made at Dubai Technology Entrepreneur Campus (DTEC), the tech hub and coworking space wholly owned by DSO, and the largest of its kind in the MENA region.
Dubai Silicon Oasis Authority is a free zone owned by the Government of Dubai that promotes modern technology industries with the planned urban community.
The partnership was announced in the presence of Dr. Puri; Deputy Commissioner General for India at Expo 2020 Dubai, Ghanim Al Falasi; Senior Vice President, Technology and Entrepreneurship, DTEC; Nishant Pitti, co-founder, EaseMyTrip.com; and Nabeel Al Bloushi, Managing Director, MENA and Turkey Regional Head, Markets and Securities Services, Corporate Sales – HSBC.
Prime Minister Narendra Modi recently declared January 16 National Startup Day and called start-ups the backbone of the new India.
Falasi said Dubai Silicon Oasis offers world-class facilities for start-ups and entrepreneurs, streamlining their business setup and operations.
It is also home to over 1,000 startups from over 75 countries, providing a conducive business environment and collaboration platform for like-minded people. We look forward to playing a key role in paving the way for these 200 new Indian start-ups and facilitating their expansion in the region, he said.
Pitti said he strongly believes Indian startups can add a lot of value to the UAE ecosystem.
India has become an innovation hub with the third largest startup ecosystem in the world with over 40 Indian startups joining the Unicorn Club in 2021. Hitendra Dave, Managing Director and CEO of HSBC, India, said, Tech Segment & New Age Business commonly referred to as Startups are a key target segment for HSBC India.
India’s start-up ecosystem has over 60,000 DPIIT-registered start-ups across 628 districts across 28 states and 8 union territories. India ranks among the top 50 countries in the Global Innovation Index (GII) and is the 5th most welcoming country for start-ups in the world (leading in Asia).
Embodying the true spirit of a self-reliant India, and despite the extreme challenges posed by the global pandemic, more than 40 new unicorns have sprung up in India, bringing the total number of unicorns to 85, according to the statement.
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