Startups Clinch Deals With Corporates As Part Of Dubai Startup Hub’s Market Access Program
Three UAE-based startups have signed winning agreements with regional and global corporates as part of the latest deals facilitated through Dubai Startup Hub’s Market Access program.
Winners Tuitify, FOO, Rib & Wit and Evolvin’ Women, have scored deals with companies including Emirates NBD, one of the largest banking groups in the Middle East in terms of assets, global biopharmaceutical company Sanofi, and UAE-headquartered global conglomerate Nikai Group.
These corporate-startup partnerships were enabled as part of the second cycle of Dubai Startup Hub’s Market Access program, an initiative that aims to introduce and connect UAE’s startups and SMEs with Dubai’s large corporations and government entities. Dubai Startup Hub is the entrepreneurship support arm of the Dubai Chamber of Commerce and Industry.
In a ceremony held at the Dubai Chamber on Wednesday, Emirates NBD signed an MoU with knowledge-based performance improvement startup Tuitify to develop an employee engagement platform for use within the bank to help share content, drive productivity, engage employees and develop reporting. Emirates NBD also signed an MoU with fintech startup FOO to develop a payment platform that supports virtual point of sales, payment via QR code and reporting.
And in a first, startup Tuitify also signed a second deal with Sanofi to enhance its relationships with its customers through the startup’s social media platform.
The agreements remain valid for one year.
Speaking at the event, His Excellency Hisham Abdullah Al Shirawi, 2nd Vice Chairman of Dubai Chamber, said: “ The response [to Market Access] was overwhelming and the quality of submissions truly exceeded our expectations. The selected startups that made the final cut are a true reflection of the country’s thriving entrepreneurial ecosystem as it continues to mature and evolve. We hope that the deals signed help take their business to the next level and inspire other startups to join the program in the years to come.”
— Dubai Startup Hub (@DubaiStartupHub) September 26, 2018
The competition received a total of 155 applications.
In its second cycle, Market Access invites startups and SMEs to submit ideas and solutions that solve key challenges faced by prominent large organizations in Dubai. Dubai Chamber sees it as an opportunity for selected startups and SMEs to find a market for their solutions among leading corporates in the emirate and gain industry experience.