In its Inaugural Year, GITEX Global Startup Movement Already Set to be Largest Dedicated Startup Showcase for Young Arab Innovators
Digital Entrepreneurs to AddUSD 14 billion to the UAE’s GDP, USD 1.5 Trillion in Global GDP by 2020: Accenture[1]
Dubai, United Arab Emirates
Dubai hosted the launch today of the world’s first, most global, week-long startup showcase this October. Held in response to the need for an industry hubfor investors, incubators, and accelerators to identify the world’s next great startups and support youth empowerment, the new GITEX Global Startup Movement is a comprehensive and dynamic technology platform that will promote global knowledge exchange, foster economic growth and encourage startup investment in the region.
An early adopter of technology, with a 95 per cent household internet penetration, the UAE is a hotbed for technology innovation.[2]The GITEX Global Startup Movement is being held alongside GITEX Technology Week, whose legacy as the most outstanding ICT event in the region makes it uniquely positioned to support and spotlight startups.
Recent leadership initiatives led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai have put Dubai on the map as a capital for innovation and technology. Efforts to enable rapid deployment of transformative technologies, and become one of the world’s Smartest Cities, such as Dubai Innovation Week, the announcement of the Dubai 3D Printing Strategy’,as well as Dubai Future Accelerators,among many others, have generated worldwide headlines in recent months.
“Dubai and the UAE are world-renownedhubs for Digital Economy innovation as well as the home of a youthful population that is steadfast in its drive to innovate. The GITEX Global Startup Movement will give more than one thousandof the brightest millennial entrepreneurs from the Middle East and around the world a chance to network with peers and gain insight from global technology companies. Young innovators at the GITEX Global Startup Movement will hear success stories that will truly inspire their creativity and in turn positively impact the global community. The GITEXGlobal Startup Movement offers many of the region’s young founders a once in a lifetime opportunity to present their business concepts tosome of the world’s most illustrious investors, some whom have had a significant impact on the success of the likes of Careem, Spotify, Facebook and many more,”said Trixie LohMirmand, Senior Vice President, Dubai World Trade Centre, organisers of GITEX Technology Week 2016.
With a growing population of digital natives, and access to the world’s emerging technology markets, the UAE is an attractive startup hub. His Highness Sheikh Mohammed bin Rashid Al Maktoum has made it a priority to support young entrepreneurs, recently approving an action plan and 100-day programme proposed by Her Excellency Shamma bint Suhail bin Faris Al Mazrui the UAE Minister of State for Youth Affairs. The UAE youth engagement strategy aims to mould an environment in which youth can innovate to benefit the wider community.
Young entrepreneurs and startups have the potential to contribute significantly to employment opportunities for this class of fresh graduates.Digital entrepreneurs are expected to add USD 14 billion to the UAE’s GDP,[3] and USD 1.5 trillion to global GDP by 2020,[4] according to recent reports from the consultancy Accenture.
Additionally, Dubai has been tapped for the upcoming EXPO 2020, which will provide a wealth of new procurement opportunities for the region.
The GITEX Global Startup Movement isfurthering this growth by providing unique access for international investors to the region’s emerging startup market, supporting diverse employment opportunities among youth, women in technology and local talent, and developing a culture of entrepreneurship in the region.
New and Award-winning Startups Line Up for GITEX Global Startup Movement
Among the more than 410 startups from nearly 60 countries, more than half are making their global debut at the GITEX Global Startup Movement. The diversity of the GITEX Global Startup Movement - both in terms of its international attendance of and the industry and development of the startups –is a key differentiator for the movement.
In a unique demonstration of support for young innovators and the GITEX Global Startup Movement, governments from around the globe are sending delegations of some of their best young innovators to represent their nations at the event. Fourteen government-led startup contingentsare attending the GITEX Global Startup movement, hailing from around the world including Russia, Poland, Holland, and the USA with first-time representation from Egypt, Hungary, Japan, Morocco, Oman.
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