Dubai Silicon Oasis (DSO) and India Innovation Hub on Monday announced a partnership with Indian online travel company EaseMyTrip and UK-headquartered investment banking company HSBC to facilitate 200 Indian startups to showcase their business ideas and innovations to global investors at Expo 2020 Dubai.
With this joint initiative, some of India's best Innovators and Startups will get an opportunity to engage with their counterparts and key stakeholders at DSO and Expo 2020 Dubai, Aman Puri, Consul General of India in Dubai, said on the occasion.
India Innovation Hub is a project of the India Pavilion at Expo 2020 Dubai where over 500 Indian startups will be showcased. The project provides a platform to promote start-ups and innovators of India by providing them exposure to the global investors' community through B2B events.
India Innovation Hub has made a significant contribution to the Startup ecosystem by showcasing over 240 Startups at the Expo 2020 Dubai, Puri said.
In line with the Expo 2020 Dubai theme, Connecting Minds, Creating the Future', the India Innovation Hub, as part of the India Pavilion, will act as a facilitator for these start-ups, providing them with a global stage to interact with investors and global counterparts for networking and partnerships, the Consulate General of India in Dubai said in a statement.
Focus areas to select startups will be Fintech, AI, cybersecurity, health and tech-enabled platforms in key priority sectors. The announcement was made at the Dubai Technology Entrepreneur Campus (DTEC), DSO's wholly-owned tech hub and coworking space, and the largest of its kind in the MENA region.
Dubai Silicon Oasis Authority is a Dubai government-owned free zone that promotes modern technology-based industries with the urban master-planned 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, Regional Head MENA & Turkey, Markets and Securities Services, Corporate Sales – HSBC.
Prime Minister Narendra Modi has recently declared January 16 as National Start-up Day and has called start-ups the backbone of new India.
Falasi said Dubai Silicon Oasis offers world-class facilities to start-ups and entrepreneurs, streamlining their business set-up and operations.
It is also home to more than 1,000 startups from more than 75 countries, providing a conducive business environment and collaboration platform for like-minded individuals. We look forward to playing a key role in paving the way for these 200 new Indian start-ups and facilitating their expansion into the region, he said.
Pitti said he strongly believe that Indian startups can add a lot of value to the ecosystem in the UAE.
India has emerged as an innovation hub with the world's third-largest startup ecosystem with over 40 Indian start-ups joining the Unicorn Club in 2021. Hitendra Dave, General Manager and CEO of HSBC, India said, Tech & New Age Business segment commonly called Startups' is a key target segment for HSBC India.
The Indian start-up ecosystem has over 60,000 DPIIT-registered start-ups from 628 districts across all 28 states and 8 Union Territories. India ranks in the top 50 countries in the Global Innovation Index (GII) and is the 5th most start-up friendly country 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, over 40 new unicorns came into existence in India, taking the total number of unicorns to 85, the statement said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Mon, January 31 2022. 21:36 IST
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