Two-day Indian startup summit begins tomorrow
abu dhabi — An Indian startup is on track to become the world’s first-ever private company to land on the moon while another offers an innovative breast cancer screening software. They are among 18 high-tech entities which are getting ready to take part in the twoday Start-up India Summit in Dubai and Abu Dhabi. The summit will focus on four sectors – Artificial Intelligence, FinTech, TechHealth and Software.
The Indian Embassy aims to provide a platform for these startup ecosystem in both India and the UAE for greater collaboration, exchange of ideas and interaction between academia, investors and industry. Navdeep Singh Suri, Indian Ambassador to the UAE, told Khaleej Times: “This is a big initiative the embassy has taken. The Start-up India summit will be the first-of-its kind in the Middle East and the first anywhere we have done. It will be held in Emirates Towers in Dubai on May 23 and in Abu Dhabi Global Market on May 24.”
The Indian envoy said that following the Republic Day visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, there is an effort to broaden and deepen the relationship in multiple areas.
He added that the UAE is the only country with a Ministry for Future. “Today in the UAE, when you talk about the fourth Industrial Revolution, artificial intelligence and software services are crucial. Dubai is a big financial hub and Fintech becomes a key tool to have. Given these elements and from the Indian side, almost surreptitiously, we have emerged as the third largest startup ecosystem in the world.
“The emerging trend in India is to have your own start-up with almost four companies mushrooming everyday. The students coming
The UAE is an early adapter to technology and India has got companies with new technology. So we can match-make and bring them together.”
Navdeep Singh Suri, Indian Ambassador to the UAE
from Indian technology institutes don’t want a job but start their own company with cutting-edge technologies. India is among the countries to have its own unicorns — a startup valued at over $1 billion.”
What is the objective of hosting such an event?
The Indian ambassador said: “I am looking at several outcomes. This is a unique opportunity to combine Indian tech entrepreneurs with their Emirati counterparts. Providing a platform to the youth of the country will give a boost to the long-term bilateral relationship. The UAE is an early adapter to technology and India has got companies with new technology. So we can match-make and bring them together.
“Different companies are at different stages of evolution and certain number of them are looking to grow further. Several others offer attractive investment opportunities. So, we hope to give them an opportunity to mix with the UAE investors, private businesses, sovereign funds and investors. Another objective is to change perceptions that India is not just an outsourcing capital, but also got innovators and entrepreneurs.”
ashwani@khaleejtimes.com