Programme to foster cooperation between startups, corporates in Dubai
Details of the new Market Access features were announced at a launch ceremony in Dubai.
Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, has unveiled its revamped Market Access programme which pairs leading companies in the UAE with startups that offer innovative solutions addressing their key challenges.
Details of the new Market Access features were announced at a launch ceremony in Dubai and was attended by members of the business community, including previous corporate and startup participants who shared their experiences and success stories. Among the additional benefits provided to companies participating in the programme are: one-year membership, specialised workshops and access to a wider network of solutions, in addition to the ability to list multiple challenges on the Market Access interactive and smart online portal where they can also communicate and collaborate with startups. Startups that are selected to participate in the programme can benefit from training and pitching workshops, access to lucrative business opportunities, as well as a platform to boost their market exposure and build their brand reputation.
Sanofi, Mediclinic, Sumitomo Corporation, Accenture, Dubai South, Emirates Post Group and Emirates NBD are among corporates that have signed up for Market Access. In the next phase of the programme, the corporate participants will list a series of existing challenges on the Market Access online portal, giving startups the chance to submit their solutions online and pitch their business concepts to potential business partners.
During the launch ceremony, Majid Saif Al Ghurair, Chairman of Dubai Chamber, said that Market Access provides an effective platform for fostering innovation and forging partnerships between established companies and startups in Dubai. He explained that many multinational and large companies around the world have realised the benefits of collaborating with startups, adding that such partnerships are helping organisations successfully navigate the Fourth Industrial Revolution and boost their competitive edge. Participation and interest in Market Access have grown over the last few years, Al Ghurair said, with more than 500 applications received from corporate and startups in previous cycles.
At the same time, leading companies in the UAE have continued to renew their participation in the programme, which he says is a positive sign that they are seeing a return on investment and benefitting from their involvement. Dubai Chamber launched Dubai Startup Hub in 2016 as an online platform to connect startups, entrepreneurs, developers, venture capitalists and students, enabling them to learn about new opportunities and create new partnerships that stimulate economic growth.