UAE continues to provide robust support to startups

MAGNiTT News khaleejtimes.com - 1 year ago - Thu, Feb 21, 2019, 8:47 AM

UAE continues to provide robust support to startups
Author: MAGNiTT

By Sandhya D'Mello / Khaleej Times

 

SOURCE: Khaleej Times - UAE continues to provide robust support to startups


Event so far records over 6,000 attendees with 1,000-plus participating entrepreneurs and $1B funding

The UAE's unprecedented support to its startup community was evident at the two-day Step conference this week, with massive support from all key sectors displayed as mentors, venture capitalists, accelerators, investors and incubators showed their solidarity to boost entrepreneurial skills of youth.

The event has so far recorded over 6,000 attendees with 1,000-plus participating entrepreneurs and $1 billion in funding.

"The Step conference provides a one-stop location for regional and international entrepreneurs, brands, influencers, investors, government representatives, future technology stakeholders and young learners to be updated on the latest trends in technology and learn from industry leaders," said Necip Ozyucel, cloud and enterprise group lead at Microsoft Gulf. "The ethical use of AI, its role in improving accessibility and AI's impact for humanitarian benefit are also some of the key areas that are at the heart of our efforts."

Ray Dargham, co-founder and CEO of Step Group, said: "This year, we are seeing a lot more interest from investors and startups in Asia, China and Europe who are keen to invest or expand into the Middle East. There is also a growing participation from the automotive industry with several partners showcasing their electric vehicles and mobility technology.

The Dubai Startup Hub, an initiative of the Dubai Chamber of Commerce and Industry, exhibited and promoted the Co-Founder Dubai programme at the event. Following the application process, 10 UAE startups will be selected to participate in the match-making programme. Applications in the second phase will be open to aspiring co-founders who will later be shortlisted. By the end of the pilot, the selected startups will meet with potential co-founders and choose one candidate that will join their respective teams.

 

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