• Lights on the ceiling represent an idea that moves from concept to reality at The Good Place pavilion. All photos by Chris Whiteoak / The National
    Lights on the ceiling represent an idea that moves from concept to reality at The Good Place pavilion. All photos by Chris Whiteoak / The National
  • The Good Place encourages people to create change in their communities.
    The Good Place encourages people to create change in their communities.
  • A solar-powered tricycle that saves women in Zimbabwe time and money displayed at The Good Place pavilion.
    A solar-powered tricycle that saves women in Zimbabwe time and money displayed at The Good Place pavilion.
  • The Good Place Pavilion by Expo Live has opened to the public at Expo 2020 Dubai.
    The Good Place Pavilion by Expo Live has opened to the public at Expo 2020 Dubai.
  • An app called AlterYouth from Bangladesh aims to find sources and alternatives to finance a child's education.
    An app called AlterYouth from Bangladesh aims to find sources and alternatives to finance a child's education.
  • A company plants a tree in reality based on a virtual game played on a mobile phone. Successful start-up projects are on display at The Good Place.
    A company plants a tree in reality based on a virtual game played on a mobile phone. Successful start-up projects are on display at The Good Place.
  • The Good Place is aptly named.
    The Good Place is aptly named.
  • It cuts the amount of water required for irrigation.
    It cuts the amount of water required for irrigation.
  • Desert Control from Norway has devised a liquid nano clay substance that retains water and increases farm yield.
    Desert Control from Norway has devised a liquid nano clay substance that retains water and increases farm yield.
  • Emirati architect Ahmed Bukhash believes buildings should make us pause to think.
    Emirati architect Ahmed Bukhash believes buildings should make us pause to think.
  • A better outcome for children is the ambition of an application called AlterYouth from Bangladesh.
    A better outcome for children is the ambition of an application called AlterYouth from Bangladesh.
  • The Good Place aims to encourage conversations that will address global challenges from education for all to clean energy, at Expo 2020 Dubai.
    The Good Place aims to encourage conversations that will address global challenges from education for all to clean energy, at Expo 2020 Dubai.
  • Architect Ahmed Bukhash makes a point at The Good Place pavilion at Expo 2020 Dubai.
    Architect Ahmed Bukhash makes a point at The Good Place pavilion at Expo 2020 Dubai.
  • The Good Place is one of a vast variety of pavilions at the world's fair.
    The Good Place is one of a vast variety of pavilions at the world's fair.
  • Abdulla Khoory, senior manager of Expo Live, speaks to visitors about projects that affect lives across the world at The Good Place pavilion.
    Abdulla Khoory, senior manager of Expo Live, speaks to visitors about projects that affect lives across the world at The Good Place pavilion.
  • Yousuf Caires, senior vice president of Expo Live, at The Good Place.
    Yousuf Caires, senior vice president of Expo Live, at The Good Place.
  • An origami-inspired tent. The Good Place project is looking for start-ups with big ideas at Expo 2020 Dubai.
    An origami-inspired tent. The Good Place project is looking for start-ups with big ideas at Expo 2020 Dubai.
  • UAE national Ahmed Bukhash says traditional architecture can be the foundation of design principles to combat climate change.
    UAE national Ahmed Bukhash says traditional architecture can be the foundation of design principles to combat climate change.

Expo 2020 Dubai to fund small start-ups with big impact


Ramola Talwar Badam
  • English
  • Arabic

Walk into a white origami-inspired pavilion at Expo 2020 for a chance that your socially relevant project will be backed with $100,000 in funding to reach a bigger audience.

A senior Expo official said organisers continue to look for promising grassroots ventures with the potential to change lives in sectors ranging from health, clean energy and technology, to accessibility, education and women’s empowerment.

People look at famous entrepreneurs, big business people and say I could never be them. We want to change that
Yousuf Caires,
senior vice president, Expo Live

Expo Live’s grant programme has funded 140 initiatives from 76 countries after receiving more than 11,000 applications.

“We have not stopped looking for start-ups that are run by people interested in doing work for the community,” Yousuf Caires, senior vice president, Expo Live, told The National.

“Expo Live has been around for five years and we are continuing to search for entrepreneurs and changemakers who want to improve lives and protect the planet. Our search is not over. Anyone who walks in could be next.”

The pavilion built to resemble a Bedouin tent is in Expo’s Opportunity theme district across from the UK pavilion.

The Good Place Pavilion by Expo Live encourages visitors to be the change. The project is one of a kind at the world fair.
The Good Place Pavilion by Expo Live encourages visitors to be the change. The project is one of a kind at the world fair.

The lower half is dedicated to organisations that have won the funding, from coffee farmers in Peru who use solar-powered equipment to a route-planning mobile app for wheelchair users in Japan.

The Expo programme connects the start-ups with government entities and multinational corporations to support the scaling up of ideas.

Workshops and panel discussions have begun at the pavilion led by innovators from around the world to highlight their journey from concept to delivery of solutions that address global issues from reusing waste to education for all.

“We want to help people understand that nothing prevents any of us from creating a better future,” he said.

“People look at famous entrepreneurs, big business people and say I could never be them. We want to change that.

“If we can be bold enough and committed enough to take that first step. That is what we encourage people who come to the pavilion to do. Then let’s talk about how you can turn that into a business that is sustainable.”

The area is open to students with a project and investors looking for a new venture. Mr Caires and his team brings them together in networking events to see if a match-up is possible.

Accenture, DP World and Siemens are among partners who interact with innovators in sessions to provide counselling and tips on moving on from the development stage.

The initiative is the first of its kind at a world fair and aims to change lives by backing innovations anywhere on the planet.

Applications for Expo Live’s innovation impact grant programme are available at The Good Place pavilion.

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Four-day collections of TOH

Day             Indian Rs (Dh)        

Thursday    500.75 million (25.23m)

Friday         280.25m (14.12m)

Saturday     220.75m (11.21m)

Sunday       170.25m (8.58m)

Total            1.19bn (59.15m)

(Figures in millions, approximate)

The details

Heard It in a Past Life

Maggie Rogers

(Capital Records)

3/5

2019 Asian Cup final

Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

WRESTLING HIGHLIGHTS
Racecard

6.30pm: Mazrat Al Ruwayah Group Two (PA) US$55,000 (Dirt) 1,600m

7.05pm: Meydan Trophy (TB) $100,000 (Turf) 1,900m

7.40pm: Handicap (TB) $135,000 (D) 1,200m

8.15pm: Balanchine Group Two (TB) $250,000 (T) 1,800m

8.50pm: Handicap (TB) $135,000 (T) 1,000m

9.25pm: Firebreak Stakes Group Three (TB) $200,000 (D) 1,600m

10pm: Handicap (TB) $175,000 (T) 2,410m

The National selections: 6.30pm: RM Lam Tara, 7.05pm: Al Mukhtar Star, 7.40pm: Bochart, 8.15pm: Magic Lily, 8.50pm: Roulston Scar, 9.25pm: Quip, 10pm: Jalmoud

World Cricket League Division 2

In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.

UAE fixtures

Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final

Company profile

Company name: Suraasa

Started: 2018

Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker

Based: India, UAE and the UK

Industry: EdTech

Initial investment: More than $200,000 in seed funding

Updated: October 28, 2021, 1:47 PM