DUBAI: Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, has announced the successful conclusion of the Market Access programme’s second cohort, which saw several high-potential startups joining forces with leading UAE corporates at a recent business pitching and matchmaking event.
The virtual event, held on June 17th, 18th and 22nd, saw Market Access corporate members Emirates NBD, Sumitomo and Accenture team up with nine startups offering innovative solutions to solve existing challenges faced by the companies. The corporate requirements came from various functions and industry domains, including midstream pipeline business, food security & waste management, and hyper-personalization of banking services.
Emirates NBD will collaborate with four startups, namely ApRbot, which specialises in reducing cost and increasing speed of documents workflow with artificial intelligence; BankBuddy, a technology platform used by financial institutions use to increase revenue by using artificial intelligence and user data; Emerge Consulting, a digital solution enabling businesses to improve efficiency and productivity; and Banking Caddie; an intelligent solution designed to boost revenue of banks that integrates different banking systems.
Sumitomo will begin projects with two startups – Digital Energy, which solves complex value chain problems by embedding efficiencies in AI-powered solutions; and Distichain, a trade engine using blockchain and AI technologies to deliver B2B e-commerce marketplaces and e-procurement platforms.
Accenture has teamed up with three startups: Digital Energy, a provider of AI-powered solutions for industrial planning, supply chain, and field execution; PlasticFri, a cleantech company that turns non-edible plants and organic waste to plant-based alternatives to replace disposable plastics; and iERP, an end-to-end business prediction platform offering valuable insights on customer data and sales.
The second cohort of Market Access attracted 44 startups submissions, of which 55% came from outside of the UAE. The UAE accounted for the largest share of startup submissions, or 45% of the total entries came from the UAE, followed by India (11%) and Russia (7%). Portugal, China and Nigeria each accounted for 5% of all submissions, while the remaining 22% came from other countries.
“The second cohort attracted more high-calibre startups and a wider variety of international participants offering unique business concepts and state-of-the-art technologies that can be adapted in the UAE market, and reflected Dubai’s position as an attractive hub for promising startups,” said Natalia Sycheva, Manager of Entrepreneurship at Dubai Chamber.
“The current challenges imposed by the Covid-19 pandemic have led many companies in the UAE to innovate, adopt new technologies and outsource key projects, a trend that is creating new business opportunities for the startup community,” she added.
Market Access is one of Dubai Startup Hub’s flagship programmes designed to facilitate partnerships between corporates and startups. The programme offers annual membership to corporates with four matchmaking events held throughout the year. Shortlisted startups benefit from tailored business training and a chance to pitch to corporate leaders.
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 hub has been 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.