Monday 08 August 2022 - 12:11:21 pm

UAE corporates team up with tech startups as 4th cohort of Market Access concludes

DUBAI, 21st December, 2020 (WAM) -- Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, has announced the successful conclusion of the fourth cohort of Market Access, which saw seven innovative tech startups announce collaborations with leading UAE corporates and entities on new pilot projects.

The fourth cohort attracted submissions from 76 startups, 36 per cent of which came from UAE, while 64 per cent of applications came from other countries, such as India, Egypt and Israel, among others.

During a business pitching and matchmaking event held from 10th-13th December, Sumitomo Corporation, Emirates Post Group, and Accenture announced plans to collaborate with seven startups on projects that will develop solutions in the areas of travel technology, health security, robotic process automation, customer relationship management and IoT enabled technologies to control water usage and temperature.

Emirates Post Group will collaborate with Quickwork Technologies, a middleware company supporting businesses with digital transformation and IN-D AI, a provider of AI apps that automate document reading, data extraction and data classification.

Accenture selected Verismart, an identity blockchain platform for airports; and WideBot, an Arabic chatbot builder; and Naurt, a provider of navigation tracking software, to work on upcoming projects.

Sumitomo Corporation will join forces with Ronds Technologies, a provider of end-to-end IoT solutions integrating hardware, networking and software; and Alcodex, an IoT based solution provider for remote monitoring of air, water, soil and habitat.

The startups were selected from a pool of 10 shortlisted candidates that pitched business concepts and solutions addressing existing challenges for the corporate members. Shortlisted startups benefited from a two-week business training and tailored support.

Natalia Sycheva, Senior Manager – Special Projects and Entrepreneurship at Dubai Chamber, noted that the fourth cohort of Market Access demonstrated the programme’s ability to meet the evolving needs of Dubai’s business landscape in the new normal and attract global startups offering cutting-edge solutions that address existing challenges in the market.

She noted that the last cohort saw the first submissions from Israeli startups specialising in transportation, artificial intelligence, and software technology, adding that the high quality of submissions reflected the huge potential that Israeli businesses can offer their UAE counterparts.

Established by Dubai Chamber in 2016, Dubai Startup Hub is the first initiative of its kind in the Middle East and North Africa region. The initiative is designed to emphasis the value of public and private sector collaboration and embodies the aim of encouraging innovation and entrepreneurship as a main driver of the economy of Dubai and the UAE.

WAM/MOHD AAMIR/Hazem Hussein