Indian firms look to capitalize on UAE’s startup ecosystem
Parag Gulhane of MakerInMe Technologies Pvt Ltd during Special Presentation VI for National Startup Award Winners in Dubai. – Photo by M. Sajjad
Leveraging the UAE’s start-up ecosystem, at least six Indian businesses made their case on Tuesday as they look to raise funds for their nascent ventures as part of Elevate Season II, Special Introductory Session VI.
The Elevate Pitching series, organized by the Consulate General of India in Dubai, aims to provide a platform for investors and business partners in the Middle East and other countries to identify fundable start-ups in various fields.
Elevate has held 25 shows in Dubai so far. So far, the pitch series has showcased over 700 startups, mainly from India and the UAE.
A special presentation of the 2022 National Entrepreneurship Award Winners saw several roadmaps from the startup co-founders, who hail from fields as diverse as media and entertainment, edtech, logistics, fintech and health and wellness.
The National Start-up Awards by Start-up India recognize and reward outstanding start-ups and ecosystem enablers, creating innovative products or solutions and scalable businesses. These annual awards recognize solutions that have the potential to create jobs or generate wealth and demonstrate measurable social impact.
Episode six of season two features a special guest, Padmaja Ruparel, co-founder of the Indian Angel Network (IAN). She is a member of the Government’s Economic Advisory Council, National Expert Advisory Council on Innovation, Incubation and Tech Entrepreneurship.
Explaining his case to attendees, Parag Gulhane of MakerInMe Technologies in Bangalore, India said: “We need to create a generation of problem solvers. The right time to build this starts with school education. While STEM (science, technology, engineering and mathematics) Education is important, but adoption is difficult for both institutions and students as they face various challenges in adopting. Some of these involve steep learning curves and require acquiring a lot of theoretical knowledge. There is no curriculum for teachers to follow. Therefore, we want to provide A complete STEM solution that consists of a world-class product and a structured curriculum developed around it. Every school wants to be in STEM but doesn’t have the curriculum.”
Nishchay AG of Jar (Changejar Technologies Private Limited) during Special Presentation VI for National Startup Award Winners in Dubai. – Photo by M. Sajjad
The startup ecosystem in the UAE has been greatly enhanced through several decisive measures and decisions taken at the federal level, including allowing companies to take full foreign ownership in all activities, providing entrepreneurs with a golden visa, and dozens of promising Benefits and Incentives.
Indian entrepreneurs pitching business ideas to global investors not only articulated their working models but also expressed their desire to work with the UAE, which is known for providing support and regulating the startup sector to incubate startups in a world-class environment UPS.
Gulhane added: “Our idea is to expand this to the UAE and other places. So we want to launch educational services in schools.”
Sameer Joshi from Trascender Services Pvt Ltd, Mumbai, India, sheds light on his business, which focuses on mobilizing qualified candidates and empowering them with the right skills: “We are developing industry-based skills development programs specifically for the healthcare industry. We Looking at creating a nursing workforce through the existing hospital base – a trained workforce developed by hospitals for hospitals to serve patients. We also want to work with people in Dubai.”
Jayesh Tope of Revamp Moto Pvt Ltd during a special pitch session VI for Dubai National Startup Awards winners. – Photo by M. Sajjad
With India’s G20 presidency and start-ups being the engine of innovation driving economic recovery, the country has also set up a dedicated start-up group called “Start-up 20”.
Joshi shared some statistics related to India: “1.8 lakh candidates registered for the last medical entrance exam in July 2022 [in India]. Only 100,000 seats available. Therefore, the remaining 1.7 million candidates opted for other UG courses. After their degrees, they are not engaged in meaningful work. On the other hand, especially in the healthcare industry—that is, primary, secondary, and tertiary service providers—there is a lack of skilled labor to cater for patient services. In India, there is a severe shortage of 700,000 allied health personnel. So, from a market perspective, there is a huge potential for available supply of young people who are looking for work, while on the demand side, there is a severe shortage of skilled and certified labor among healthcare service providers. “
Demonstrating his strategy, Sandeep Verma of Filmboard Movie Technologies in Mumbai, eager to generate audience interest in his business, said: “Audience habits have shifted from cinema to OTT platforms. People are spending more time on OTT platforms than before. More viewing time in theaters. So there is higher consumption and therefore higher demand. We also know that costs and financial responsibilities will be rationalized due to OTT platforms. I think this will lead to higher efficiencies. But the old There will be some restructuring of orders. Given our thinking, we are far behind technology. So, technology upgrades are important. But this is a B2B thing, so to launch and be adopted, we need to push.”