AIM startup connects businesses to investors
About 200 promising start-ups from around the world will convene under one roof to meet investors, corporates and government representatives at the second edition of the Annual Investment Meeting (AIM) competition in Dubai.
AIM Startup, an initiative of the UAE Ministry of Economy, will take place from April 9-11, in conjunction with AIM’s foreign direct investment meeting.
“We have lined up 150 start-ups,” Dawood Al Shezawi, President of AIM Startup, told Gulf News. “Today, it is the world of startups and innovations. The biggest companies are buying startups and they [start-ups] are creating a new world of economy. A lot of government departments here are having incubators to support them and help them to create employment and accelerate economic growth.” Of 150 start-ups, he said 30 per cent were from the UAE and the rest from around the world.
Last year, 83 start-ups took part in the competition out of the 440 applicants. This year, he said they got more than 600 applications. “Our aim is to link the start-ups with global venture capitals and empower the youth with the right tools to grow. A lot of investors globally have the money but they don’t know where to invest and minimise risk and we are opening the doors for them,” he said.
According to an online hub for digital professionals and entrepreneurs Arabnet, start-up funding worth more than $1 billion (Dh3.67 billion) is likely to be raised this year. “Dubai is creating a regional hub for investors and it is not available in other countries. Here, the government is opening the doors for start-ups and small- and medium-sized business,” he said.