Fostering partnerships for inter-regional innovation

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In keeping with the Expo2020 theme ‘Connecting Minds, Creating the Future’, the India Innovation Hub at the India Pavilion, has been showcasing start-up, providing a global stage, to interact with investors, networking counterparts and bridging partnerships for over 200 startups, Soniya Kirpalani reports from Dubai

An interesting partnership has been forged between Dubai Silicon Oasis, HSBC, India Innovation Hub, and unicorn EaseMyTrip which has led to the development of a platform that has showcased 200+ startups from the Fintech, AI, Cybersecurity, Health and Tech- key tech enabled priority sectors who shared their business ideas and innovations, to a select audience of global investors at Expo 2020 Dubai an initiative by the Indian Pavilion.

Dr Aman Puri, who has been an integral part of the facilitation saod, “I am delighted to note that India Innovation Hub and Dubai Silicon Oasis are partnering with EaseMyTrip and HSBC to showcase Indian Innovation to the world at Expo 2020 Dubai. With this joint initiative, some of India’s best Innovators and Startups will get an opportunity to engage with their counterparts and key stakeholders at DSO and Expo 2020 Dubai.” Over the last few years, India has emerged as an innovation hub with the world’s third-largest start-up ecosystem with over 40 Indian start-ups joining the Unicorn Club in 2021.

The Indian start-up ecosystem today has over 60,000 DPIIT-registered start-ups from 628 districts across all 28 States and 8 Union Territories. India ranks in the top 50 countries in the Global Innovation Index (GII) and is the 5th most start-up friendly country in the world (leading in Asia). Embodying the true spirit of a self-reliant India, and despite the extreme challenges posed by the global pandemic, over 40 new unicorns came into existence in India, taking the total number of unicorns to 85.

Nishant Pitti of EaseMyTrip is the perfect representative of the vibrant ecosystems and is counted as one of the home-grown unicorns from India, who are now establishing their presence in the Middle East with EaseMyTrip.ae, Pitti said “I strongly believe that Indian startups can add a lot of value to the ecosystem in the UAE. We are pleased to partner with HSBC, DSO & India Innovation Hub to bring more startups from India.”

Swiftly emerging as one of the finest start-up innovation hubs and coworking spaces. Dubai Silicon Oasis offers world-class facilities to startup entrepreneurs, and is home to more than 1,000 startups from more than 75 countries, Ghanim Al Falasi said: “Providing a conducive business environment and collaboration platform for like-minded individuals. We look forward to playing a key role in paving the way for these 200 new Indian start-ups and facilitating their expansion into the region.”

As Tech & New Age Business Startups have become key target segment for banks, especially HSBC India, they have been customizing products and solutions for startups across their growth cycle spectrum of early-stage, growth stage, to Unicorns and beyond. Hitendra Dave, General Manager and CEO of HSBC, India said “We already bank some of India’s best known, and up-and-coming startups, and we hope to partner more in the coming months and quarters.”

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Bringing the right mix of governmental support, enabling infrastructure and finance, India Innovation Hub is a project of the India Pavilion at Expo 2020 Dubai wherein over 500 startups from India are expected to be showcased. The project provides a platform to promote start-ups and Innovators of India, by providing them exposure to the global investors’ community through B2B events and activities like Elevate, pitching sessions.

This announcement was made by Dr Aman Puri, Consul General of India in Dubai and Deputy Commissioner-General for India at Expo 2020 Dubai, Ghanim Al Falasi, Senior Vice President, Technology and Entrepreneurship, Dtec, Nishant Pitti, Co-Founder, EaseMyTrip.com and Nabeel ALBLOUSHI, Managing Director, Regional Head MENA & Turkey, Markets and Securities Services, Corporate Sales – HSBC.  For those looking to participate in the India Innovation Hub series, please register at: https://form.jotform.com/213232304501033