UAE corporates sign deals with innovative start-ups
Dubai Startup Hub, an initiative of the Dubai Chamber of Commerce and Industry, announced the signing of several deals between four leading UAE-based corporates and organisations: Dubai Chamber, flydubai, Emirates NBD and Fiat Chrysler Automobiles, and the three winning start-ups of the MarketAccess programme.
Memoranda of understanding (MoUs) were unveiled today during a deal signing ceremony held at Dubai Chamber’s premises, which covered a wide range of industries, business projects and objectives, with the agreements remaining valid for one year.
Dubai Chamber signed an MoU with online marketing agency Digital Falcon, that will see the two entities work together to boost Dubai Startup Hub’s digital presence. flydubai unveiled a strategic agreement with with cyber security company VUL9 to deliver security staff monitoring and related services to the airline’s offices across the UAE.
Emirates NBD signed an MoU with VUL9, which will work with the bank’s cybersecurity team on key projects and initiatives. In addition, Fiat Chrysler Automobiles announced a deal with LoadMe, an online marketplace for freight exchange, to develop a solution that will drive the company’s commercial vehicle sales in the Middle East.
In his welcome remarks, HE Hisham Abdullah Al Shirawi, Second Vice Chairman of Dubai Chamber, noted that the response to the first cycle of the MarketAccess programme was overwhelming with more than 130 SMEs and start-ups submitting business ideas and solutions, adding that the quality of the submissions exceeded the Chamber’s expectations. He spoke about the main benefits of participating in MarketAccess, as well as Dubai Chamber’s Entrepreneurship Strategy 2021 which aims to expand the scope of support to start-ups, entrepreneurs and youth in Dubai.
“The three UAE-based start-ups that made the final cut are a true reflection of the country’s thriving entrepreneurial eco-system which continues to mature and evolve. We congratulate you on this big accomplishment and hope that it will take your businesses to the next level and inspire other start-ups to join the programme in the years to come,” said Al Shirawi.
Sebastian Stefan, CEO at Loadme, noted the valuable support that he received throughout the MarketAccess programme and described the deal as a game changer that would help the start-up attract other corporate customers.
“Market Access has proven to be a great success for us as it helped us connect and close deals with two large corporates we wouldn’t have been able to reach otherwise,” said Mohamed Amine Belarbi, Co-founder and CEO of VUL9, adding that the MoU would help boost the company’s credibility in the local and regional market.
German Gussakovskiy, CEO and Managing Partner of Digital Falcon explained that the deal signed with Dubai Chamber offered “exponential fundamental business value” for the startup, describing the agreement as “an additional milestone” for his team.
Market Access is a first-of-its-kind programme which aims to enhance cooperation and facilitate deals between innovative startups and SMEs from around the world, and leading companies and government entities in Dubai. In the first cycle of the programme, start-ups and SMEs were invited to submit innovative ideas and solutions that solve key challenges faced by prominent organisations in Dubai.
The programme provides the opportunity for selected start-ups and SMEs to tailor their business ideas to meet specific needs, gain industry experience, and take advantage of opportunities to market their solutions and products to leading corporates and organisations in the emirate.
Dubai Chamber launched Dubai Startup Hub in 2016 as an online platform to connect startups, entrepreneurs, developers, venture capitalists and students, enabling them to learn about new opportunities and create new partnerships that stimulate economic growth.