Gitex Technology Week will launch and host the Gitex Start-up Movement, which will convene over 400 start-ups and more than 1,000 entrepreneurs, investors and mentors from the global start-up ecosystem. The exclusive set-up will highlight start-ups around the world and provide them a platform to sell, form partnerships and attract investors. Participants will also be able to pitch for prizes, attend an interactive conference to address challenges faced by entrepreneurs and meet leading industry figures. The initiative has already garnered tremendous interest and momentum from supporters across the globe including Business France, Cross Trade Agency in Singapore, Digi Robotics in the UAE, Egypt’s Information Technology Industry Development Agency (ITIDA), Japan’s Jetro Agency, Marco Trade Export in Morocco, Star Systems Agency in Iran and Saudi Telecom Company (STC) from KSA.
“Start-ups from all over the globe, women, youth and arab entrepreneurs are a very real force of change that is making a positive impact in our society. They need supportive ecosystems to nurture and enable their growth and success. GITEX Technology Week has a strong legacy as one of the leading international tech events and is uniquely positioned to turn the spotlight on start-ups. With a force of 146,000 technology professionals and 22,000 C-suite executives at GITEX, start-ups gain immediate access to a powerful industry network and massive technology marketplace, entry into growth markets in Middle East & Africa, and can future-proof their business plans, products and services.” said Trixie LohMirmand, Senior Vice-President, Exhibitions and Events Management, Dubai World Trade Centre.
The UAE leads the way in the region on revolutionary smart cities transformation and diversification of economies. Across Middle East & Africa, entrepreneurs are at the heart of the digital revolution as ICT spending increases across the region. The public sector in the UAE is already committed to facilitating a conducive environment for entrepreneurship through its AED 2 billion Knowledge Fund, which is part of the country’s National Innovation Strategy, and aims to accelerate the start-up movement towards a sustainable knowledge-based economy.
Further positive announcements such as the establishment of venture firm 500 Start-ups’ US$30 million fund in the Middle East and North Africa, Uber’s US$250 million investment in the region and home grown UAE start-up, Souq.com, which recently secured US$275 million investment, are testaments to rising the MENA entrepreneurship ecosystem where vibrant and growing economies present untapped and unchartered opportunities.
The rise in the number of exits in the region has also garnered the attention and interest of serious venture capitalists, proving that the savvy investor stands to gain by investing in the region. In 2015, high-profile exits include Turkey’s food delivery start-up Yemeksepti that sold for US$589 million, Kuwait’s Talabat.com that sold for US$170 million and Fawry, an electronic payment platform that sold for US$100 million.
Gitex Start-up Movement will form the centrepiece of the 2016 edition with emerging technologies sectors in the region equally set to benefit, as the event will showcase IoT applications, next-gen technologies and digital marketing solutions that are expected to revolutionise the global economy by 2025.
The Middle East, through its early adoption of emerging and next-gen technologies is poised to benefit from the global industrial shift and start-up organisations in the region are well positioned to become innovators and leaders. The region is already projected to spend around US$60 billion on 3D Printing, Robotics, Drones, Digital Marketing and Smart Living/Wearables by 2020.
As the Middle East embarks upon rapid transformations towards Smart Cities, the demand for innovative solutions is ever increasing. Gitex Start-up Movement will connect entrepreneurs with key government buyers, VCs, angel investors, seed capital and mentors from around the world. Delegates will be have the opportunity to visit country zones and showcase pods that will feature the most exciting start-ups offering drones & robotics; IoT, AR, VR & AI; finance; retail; healthcare; education; energy; travel & hospitality; media & marketing; and transport & logistics, to name a few.
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