Dubai: UAE-based startups could tie up with Telangana’s incubation centres, where they will get the opportunity to interact with global peers.
Hyderabad, India’s largest IT hub after Bengaluru, is home to T-Hub, an Indian government-backed startup incubator. “That’s the main incubation center - the government has divided the startup ecosystem into cybersecurity, AI, and Blockchain,” said Vidit Agarwal, founder of Ryon Data Centers, who is a part of a delegation from Telangana in the UAE.
“If you are specifically into cybersecurity, you could get the chance to interact with companies based in Israel, a leader in the area,” said Agarwal. “The (Indian) government will promote your idea as well as help you get funding”
For now, Telangana’s startups will be looking for potential investors and clients in UAE. Around 14 startups from the state are showcase their capabilities at the India Pavilion in Expo 2020 - five of these were founded by women entrepreneurs.
Aiming for tie-ups
Bhaskar Reddy, President of Federation of Telangana Chambers of Commerce and Industry (FTCCI), is leading the 15-member strong business delegation from Telangana to explore potential business tie-ups with UAE and other Gulf countries.
FTA in the works
Reddy said that a 30-member delegation representing India’s commerce ministry was in UAE to discuss a free trade agreement. Last month, Piyush Goyal, India’s Commerce Minister, said that a comprehensive economic partnership between UAE and India will be finalized before the end of this year.
“We have given our views to the ministry - we got an opportunity here to connect with them and explain the challenges faced by industries back home and how these bilateral trade agreements can help,” said Reddy.
Based on the elevator pitch model, each startup can show one slide with a two-minute pitch followed by a two-minute Q&A session from investors. Each presentation is timed and the startups have to stop their pitches at the sound of the buzzer. This session is followed by a networking session where investors and startups are given the opportunity to pursue each other and get to know each other better.
Elevate II was a Telangana focused startup event that took place on November 10.
“It is great to see the vigour and energy with which Indian startups are being received at the Expo 2020 Dubai. Elevate pitching session series is one of our key initiatives to showcase the best offerings of Indian startups to the global audience,” said Aman Puri, Consul General of India in Dubai & Deputy Commissioner General for India.
“India is now home to around 72 Unicorns, of which 35 unicorns were born in 2021, which is an example of how startups have bounced back in the face of adversity during pandemic,” said Puri.
Apart from crude oil supplies, India and Saudi Arabia are discussing partnerships in several other sectors. “Saudi Arabia has remained a dependable partner for India to meet its hydrocarbon requirements,” said Aman Puri, Consul General of India in Dubai, during an event at the Saudi Pavilion on Tuesday. “There are special opportunities for India-Saudi Arabia collaboration in the new and emerging technologies as also in expanding startup collaboration.
“The Indian innovation prowess is being significantly showcased at the (Indian) Pavilion, and I’m optimistic of fruitful interactions amongst the startups and investors from both countries.”