UAE-India start-up corridor aims to raise 10 unicorns by 2025

UAE-India start-up corridor aims to raise 10 unicorns by 2025

The objective of the initiative is to enhance and expand the start-up ecosystem between the UAE and India. It will further the vision of the leadership of both countries under the recently signed Comprehensive Economic Partnership Agreement (CEPA), according to a statement from FICCI Lead.

The MoU between FICCI Lead and DIFC is subsequent to an agreement that was signed between FICCI LEAD, Indian Angel Network (IAN), Turbostart, India and MCA Management Consultants, UAE, on January 26 this year at Expo 2020 Dubai, wherein a venture capital fund of $150 million was announced.

“Around 10 technology-led innovative start-ups from various sectors, including financial services, education and logistics, have been shortlisted for the inauguration of the India-UAE Start-Up Corridor in Dubai. This initiative would create an ecosystem to embolden the engagement between start-ups, investors, incubators, corporations, and entrepreneurs to scale their business and strengthen their position in the global market,” said the statement.

The UAE aims to create 20 unicorns by 2031 and is already the leader in the MENA region in terms of tech transformation, digital acceleration and embracing innovative ideas.

“Since DIFC’s establishment in 2004, we have demonstrated our commitment to building and maintaining sustained, long-lasting partnerships with the Indian market. Indian banks,