Gitex: Indian startups use Dubai as a platform to access Mena markets
Gitex: Indian startups use Dubai as a platform to access Mena markets
Indian startups are looking to use technology exhibition Gitex and Dubai as a platform to access the Middle East and North Africa (Mena) market, said senior officials of Agility, an angel investing platform from India.
“Startups which are coming to Dubai are looking at the emirate as a gateway to Mena region and then accessibility to the world because Dubai is more reachable and accessible to the world,” said Dhianu Das, founder, Agility.
The firm boasts almost 300-plus angel investors in the region who are investors through its platform into startups around the world.
Prashant Narang, founder, Agility, said there is a lot of interest in collaboration here at Gitex.
“After meeting at Gitex, people have set up meetings outside the event as well. These opportunities are getting created here but they will convert into business in times to come. Each one of the startups has three to four relevant connections made on day one,” he said.
Narang added that they’re looking to make some inroads into the UAE market either through collaboration or distributor or channel partner.
He added that one of Agility’s portfolio companies is shifting its patent and entire setup from the US to UAE because of opportunities here.
Saleh Alobeidli, partner, Agility, believes that Agility is adding a big value to the economy and startup ecosystem in the UAE.
He added that Agility is making India, one of the most dynamic startup markets, accessible to investors from the UAE and the Middle East.
Targeting 50 startups next year
Dhianu Das said they are participating in Gitex for the second year.
Last year, Agility brought four startups and 20-plus this year from India, ranging products from cattle to health to property management and leasing companies, because this is a very diverse part of the world where people from different countries want different services,” Das told Khaleej Times on the sidelines of Gitex Global 2022, which will run until October 14.
“We are targeting to bring about 50 startups next year and also collaborate with other Indian bodies to help them to come to Gitex together so we can have a bigger pavilion where we can showcase over 100 startups under one roof,” he said.
Das revealed that about 30 per cent of companies are looking to raise some part of their fund in the UAE because 70 per cent is already completed either in India or other parts of the world.
“Most of the companies are here to get the market access for the Mena region through Dubai.”
Das further revealed that two startups have already received interest for investment and they’re looking for more such connections for market access than just funds.
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source: khaleejtimes
