UAE: Scalo to invest $100mln in start-ups over the few years

UAE: Scalo to invest $100mln in start-ups over the few years

UAE - Tech venture company Scalo Technologies has established its headquarters in Dubai, in a strategic move to identify and guide startups with the potential to enter global markets.

Scalo intends to invest $100 million in promising startups over the next three to five years, and sees Dubai as the perfect international hub to drive its plans in the tech and gaming sectors.

Set up in Singapore in 2020, Scalo chose to base its operations in Dubai in view of the emirate’s high level of business activity, a growing economy, and strong government initiatives to attract entrepreneurs and professionals from across the globe.

“Dubai is at the heart of the Mena region, which is actively growing, and provides us with many outstanding investment opportunities,” said Abdumalik Mirakhmedov, Director and co-founder of Scalo Technologies. “In particular, we want to capitalise on the chance to connect with global startups, and also to meet UAE-based and MENA-based founders. This is where we need to be to communicate with our prospective partners as a global technology group focused on fast growing sectors of the digital economy.”

“Our key idea is to help founders of startups with the potential to scale up their business to enter global markets, no