Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, on Sunday announced a programme to help start-ups expand into new markets.
Called Scale-Up Dubai, the initiative is an extension of the Dubai Startup Hub’s existing Market Access programme that facilitates partnerships between start-ups and corporates in the emirate.
Selected start-ups, which have already developed viable businesses and have benefitted from the Market Access programme, have joined the initiative.
“Several of the participants are looking to bring their technologies to emerging markets around the world,” said Hisham Al Shirawi, vice chairman of Dubai Chamber.
As part of this programme, the start-ups were also coached about business set-up procedures, the costs and legalities of setting up a business in Dubai and about opportunities to showcase products and services to public as well as private sector organisations, Dubai Chamber said.
The start-ups were connected with the Dubai Chamber’s representative offices in Africa and Eurasia to help them expand internationally.
The selected companies in the new programme operate in the fields of energy, health-tech, transportation, logistics, FinTech and e-commerce that address current market needs and new challenges created by the Covid-19 pandemic.
Since 2016, Dubai Startup Hub’s members have launched more than 35 pilot projects. They have collectively raised more than Dh16 million and generated more than Dh6m in sales.
The programme is an example of how Dubai Chamber is using its resources and representative offices to provide start-ups access to growth opportunities in emerging markets, said Omar Khan, director of international offices at Dubai Chamber.
Upon completion of the Scale-Up Dubai programme, participants will receive a digital “Market Ready” stamp that helps them boost their appeal and reputation among corporates in Dubai.
The UAE, the Arab world’s second-largest economy, has been a springboard for many successful start-ups such as Souq.com, Okadoc and Careem.
The Emirates was ranked among the 50 top destinations for start-ups in the world, according to a June report by Zurich-based research company StartupBlink.