50% of Market Access participants are from outside the UAE, reflecting Dubai’s strong appeal as a preferred destination for international startups
Dubai, UAE: Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, has announced the successful conclusion of Market Access 2021, which saw 3 leading corporates joining forces with 6 tech startups that were selected for new pilot projects.
Following three virtual matchmaking sessions this year, corporate members - Dubai Chamber, DHL and Emirates NBD - invited 6 startups founders to explore collaboration opportunities. Dubai Chamber will collaborate with ZPOOL, Value Grid, Digital Falcon; DHL selected Ottogee; and ENBD chose IN-D-AI and Openturf.
The startups were selected from a pool of 13 shortlisted candidates that pitched business concepts and solutions addressing existing challenges for corporate members related to procurement opportunities.
All finalists will be granted access to Dubai Startup Hub’s Scale Up Dubai programme, which offers additional support for startups in growing their businesses in Dubai market, as well as in the countries of Dubai Chamber’s presence through the network of 11 international offices.
More than 50% of participating startups in Market Access cycles thus far have come from overseas, where many of them do not have such advanced incubation ecosystem as in Dubai. In addition, 73% participants of the last cycle have not been exposed to any professional accelerator or incubator.
Natalia Sycheva, Senior Manager of Entrepreneurship and Special Projects at Dubai Chamber, noted that the 2021 cycle of Market Access identified a growing trend among corporates that are embracing new technologies as they expand their digital presence. She noted that the selected startups offer cutting-edge solutions that address existing challenges faced by corporates, as well as the changing needs of their respective customers.
“Market Access provides an ideal platform to explore collaboration opportunities between leading corporates in the UAE and innovative startups from around the world. Yet, it is only the starting point, and startups that have gone through the programme are continuing their growth journey through Scale Up Dubai, which offers them access to tailored support, partnership opportunities and mentorship, helping them take their businesses to the next level,” she added.
Established by Dubai Chamber in 2016, Dubai Startup Hub is the first initiative of its kind in the Middle East and North Africa region. The initiative is designed to emphasis the value of public and private sector collaboration and embodies the aim of encouraging innovation and entrepreneurship as a main driver of the economy of Dubai and the UAE.
© Press Release 2021
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