UAE deepens innovation ties with India through high-impact MoU at Mumbai start-up event

Mumbai (Maharashtra) [India], July 11 (ANI): The UAE-India CEPA Council (UICC), in collaboration with the Embassy of the United Arab Emirates in India, hosted an exclusive Start-up Sundowner at the St Regis Mumbai, an official statement said.

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The event spotlighted the opportunities for Indian founders and start-ups to participate in the newly launched UAE-India CEPA Start-up Series, a high-impact platform designed to fast-track cross-border growth, collaboration, and market access, the statement said.

In his opening remarks, Abdulnasser Alshaali, the UAE Ambassador to India, reaffirmed the UAE's vision for fostering dynamic, innovation-led collaboration between the two nations. He emphasised that India's entrepreneurial energy as a vital force in the bilateral partnership.

A highlight of the evening was the signing of a Memorandum of Understanding (MoU) between the UAE-India CEPA Council and the Society for Innovation and Entrepreneurship (SINE), the technology business incubator of the Indian Institute of Technology Bombay (IIT Bombay). The MoU formalises a partnership to identify and support high-potential start-ups from the SINE ecosystem and alumni network for participation in the Start-up Series.

Following the signing, Ahmed Aljneibi, Director of the UAE-India CEPA Council, delivered an insightful overview of the Start-up Series, detailing the platform's strategic design to support Indian start-ups in scaling into the UAE. "The Start-up Series is a another step forward in transforming the UAE-India partnership into a launchpad for next-generation entrepreneurship and cross-border innovation," Aljneibi said.

Guests were then introduced to the official trailer for the UAE-India Start-up Series, which outlined the initiative's vision, opportunities, and roadmap. The video spotlighted the upcoming flagship pitch event in New Delhi, where selected ventures will gain access to an exclusive UAE soft-landing package, including incubation, licensing, mentorship, and investor exposure.

The Start-up Series builds on the strong economic momentum between the UAE and India, offering a new platform for start-up-led collaboration. In FY 2023-24, bilateral trade reached USD 83.64 billion, marking a nearly 15 per cent year-on-year increase since the CEPA came into effect. India's non-oil exports to the UAE surged by over 20 per cent, while UAE foreign direct investment (FDI) into India tripled, rising from USD 1.03 billion in FY 2021-22 to USD 3.35 billion in FY 2022-23, making the UAE India's fourth-largest investor, as per the statement.

The event was featured live across the UAE-India CEPA Council's social media handles. A post-produced video and event gallery will be published soon on LinkedIn, Instagram, and YouTube. (ANI)

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