Nine startups compete in the national final of the World Entrepreneurship Cup 2022 in the UAE – News

The winning startups will advance to the global competition and compete for a $1 million stake



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Posted: Friday 30 September 2022, 11:56 pm

Last updated: Saturday October 1, 2022, 3:29 pm

The UAE Entrepreneurship World Cup (EWC) Final organized by Startupscale360 will be held at 5 TECH Dubai.

The startups featured in the finals under Idea Stage are Manhat, Equevu and Wemax. Early stage category includes EVA, Ahad and PlainTiger. Finally, the ProvenMed, Food ATM, and Desert Control Growth Stage category were nominated.

In the UAE Final, one winner from each category will qualify for the EWC Global Competitions. All startups will be measured on product value, impact, global problem solving, team, and scalability.

The global finalists will face each other in Riyadh, Saudi Arabia in March 2023, vying for a share of $1 million in cash prizes. In addition to the cash prize, the top 100 global finalists will receive $100,000 worth of in-kind services and support from service providers such as AWS, Freshworks, Oracle, Hubspot, Stripe and Segment. Global candidates also gain automatic entry to the GEN Starters Club, an invite-only community of talented founders from around the world.

“Startups generally go through a transformation process at every stage of their life cycle, and there are challenges at every stage. EWC provides these startups with an excellent ecosystem to ensure that they overcome challenges and focus on delivering their core products globally,” said Swethal Kumar. , CEO and Managing Partner, StartupScale360 FZCO.

EWC is backed by global sponsor Misk Foundation and is spearheading the Global Entrepreneurship Network and Monsha’at, with support from a range of national and global partners including One Valley, Global Education and Leadership Foundation (tGELF), Entrepreneurs Organization, KAUST and Startup Genome .

Since its launch in 2019, the EWC has attracted 400,000 registrations from 200 countries and connected founders with more than $3 million in cash prizes and another $256 million in perks, support, and free services.

Swethal Kumar added that Startupscale360 is the UAE national organizer for EWC. In order to ensure fair evaluation and proper governance, Startupscale360 has established three independent committees that come from companies such as BP Venture, Flat6labs Abu Dhabi, Hub71, Alvarez & Marshel, Al Ghurair Investment, Fintech Galaxy, Emirates Academy of Hospitality Management, KPMG and Global General. The applications were screened by 20 judges from around the world who come from companies such as International Financial Corporation, Mahindra & Mahindra Limited, Landmark Group, Mashreq Bank, Stride Ventues, a mix of physicians, venture capitalists, head of the Innovation Lab and many more.

Speaking about the semi-finals, Swithal Kumar mentioned that two semi-final matches were successfully hosted at WeWork Dubai and Intelak Hub last week. The startups in the semi-finals received 18 judges belonging to companies such as Panthera Capital, Dana Venture, Founder Institute, Gems Education, Wami Capital, DHL Innovation, Virgin Hyperloop, MBRIF, Careem, Plug and Play, Dubai SME, Dubai Holding, Shorouk Partners , Dubai Cultiv8, Aditum Venture, 8X Ventures, Thaely and KappAfrik Group.

The UAE Final will take place on October 6, 2022 at In5 Tech Dubai, which is the main sponsor and partner in the ecosystem. In5 is home to hundreds of technology startups and their Technology Innovation Center is strategically located in the heart of Dubai Internet City and has access to other media and educational hubs.

Talking about the UAE final plan, Swithal Kumar said that it will be a series of panel discussions and 3 promotional sessions. The UAE Final will feature speakers and judges from major companies. Some of the accredited speakers and judges are from ADIO, Mubadala, Tencent, Dubai Future District Fund, Dubai Future Foundation, KPMG, Scaletti, Plus VC, India’s largest fund IvyCap Ventures, and London Business School.

He added that the final UAE event will be different from any other competition and will conclude with a rock show with a key message that age is a number when it comes to the startup ecosystem, and everyone is young and can start their project at any time. point in time in their lives.

Swethal Kumar thanked the other sponsors who have consistently supported throughout the trip. This includes Al Dhafra TV, Broadcasting and Media Partner, Captures, Photography and Media Partner, Meraki Global Energy, Work, Interlac and Betim Burger.

business@khaleejtimes.com

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