Chalo Dubai!
The startup community in India represents a sizeable portion of Indian Unicorns and these Indian firms combined with the NRI-owned enterprises managed to create over one million fresh jobs in Dubai.
Dubai plans to double its GDP by 2030 by nourishing Indian talents.
Several factors contribute to Dubai being the next gateway for domestic startups:
- Most of the economic sectors see 100% foreign ownership
- 30 free zones
- Favorable tax climate
- Seamless business process
- Hassle-free connectivity with Dubai
- Disposable income of the middle class
Primarily industries spanning across manufacturing, healthcare, agritech and fintech look forward to setting shop in the Gulf region.
Indian Unicorns set sight
Nykaa, the fashion and ecommerce platform expanded its omnichannel presence in the region
Gurgaon-based all-electric ride-hailing startup Blusmart will be soon foraying into the region with an initial programme with a fleet of 100 Audi
Indian-born startup, FreshToHome raised USD 104 million for ambitious expansion in Saudi Arabia
Gurgaon-based eyewear major, Lenskart plans to invest around USD 50 million in the Middle East market after they witnessed significant growth in the region.
Kerala-based Phonologix Health Solutions Founder appreciated that the region offered fantastic platform to the Indian startup to increase its visibility.
Avanse, an online lending platform offering educational loans was the latest to attract a $120 million Series D funding round in March led by Mubadala an Emirati state-owned holding company that acts as one of the sovereign wealth funds of the Emirate of Abu Dhabi.
Editor’s Note:
Indian tech startups and investors are making Dubai their address turning the region into a proxy tech capital. The region’s Sovereign Wealth Funds find the Indian startups instrumental in bringing about transformative change in Dubai’s climate.
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#indianstartups #dubai #indiansindubai