DUBAI, 1st July, 2020 (WAM) — 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 start-ups joining forces with the leading UAE corporates at a recent business pitching and matchmaking event.
The virtual event, held on 17th, 18th and 22nd May, saw Market Access corporate members Emirates NBD, Sumitomo and Accenture team up with nine start-ups offering innovative solutions to solve existing challenges faced by companies. The corporate requirements came from various functions and industry domains, including midstream pipeline business, food security and waste management, and hyper-personalization of banking services.
Emirates NBD will collaborate with four start-ups, namely ApRbot, which specialises in reducing cost and increasing the 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 the revenue of banks that integrates different banking systems.
Sumitomo will begin projects with two start-ups – 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 start-ups: 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 start-ups submissions, of which 55 percent came from outside of the UAE. The UAE accounted for the largest share of start-up submissions, or 45 percent of the total entries, followed by India (11 percent) and Russia (7 percent). Portugal, China and Nigeria each accounted for 5 percent of all submissions, while the remaining 22 percent came from other countries.
“The second cohort attracted more high-calibre start-ups 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 start-ups,” 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 start-up community,” she added.
Market Access offers annual membership to corporates with four matchmaking events held throughout the year. Established by Dubai Chamber in 2016, Dubai Startup Hub is the first initiative of its kind in the Middle East and North Africa region.