World News | UAE Ambassador to India Launches Start-up Series to Power Cross-border Innovation
Get latest articles and stories on World at LatestLY. The UAE-India CEPA Council launched the UAE-India Start-up Series in New Delhi to boost innovation and support Indian start-ups. The initiative aims to connect entrepreneurs with UAE's ecosystem. Key MoUs were signed, and a final pitch event will offer selected start-ups incubation and investor access in the UAE.
New Delhi [India], June 25 (ANI): The UAE-India CEPA Council (UICC), in partnership with the Embassy of the United Arab Emirates in India, launched the UAE-India CEPA Start-up Series at a high-level event hosted on Tuesday.
The initiative delivers on a key commitment under the UAE-India Comprehensive Economic Partnership Agreement (CEPA) to promote innovation-led collaboration and support the internationalisation of Indian start-ups.
In his address, UAE Ambassador to India Abdulnasser Alshaali underscored the UAE's commitment to entrepreneurship and cross-border innovation.
"Start-ups are central to the UAE-India economic corridor. Through this Series, the UAE-India CEPA Council seeks to connect India's brightest entrepreneurial minds with the UAE's world-class ecosystem, supporting their scale-up journeys while enriching our bilateral innovation landscape," he said.
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The launch comes amid a period of strong economic momentum between the UAE and India. In FY 2023-24, bilateral trade reached USD 83.64 billion, marking a nearly 15 per cent year-on-year increase since the CEPA came into effect. India's non-oil exports to the UAE surged by over 20 per cent, while UAE foreign direct investment (FDI) into India tripled, rising from USD 1.03 billion in FY 2021-22 to USD 3.35 billion in FY 2022-23, making the UAE India's fourth-largest investor. These gains further reinforce the UAE's enduring commitment to championing India's dynamic start-up ecosystem.
Since 2000, UAE-based investors have channelled an estimated USD 20 billion into the Indian economy, fueling innovation, accelerating growth, and cementing the UAE's position as a key strategic partner.
Building on its efforts to deepen collaboration with India's innovation ecosystem, the launch event featured the signing of several Memoranda of Understanding (MoUs) between the UICC and prominent academic and entrepreneurial institutions, including PRIME Meghalaya under the Meghalaya Basin Management Agency (M.B.M.A.), IDEATE Lab @ O.P. Jindal Global University, and Jamia Hamdard.
The event concluded with a presentation by Ahmed Aljneibi, Director of the UICC, who unveiled the bold vision and strategic framework of the Start-up Series. He outlined how the initiative will culminate in a high-profile pitch event in New Delhi, where five exceptional start-ups will be selected to receive an exclusive UAE soft-landing package--including incubation support, business licensing, tailored mentorship, and direct access to leading investors, innovation hubs, and free zone networks across the Emirates.
The event drew over 100 participants from across the start-up, investment, policy, and media landscape.
Attendees witnessed the unveiling of the official Start-up Series microsite and the premiere of a promotional trailer calling for applications from high-potential Indian ventures. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)