GITEX to launch largest startup event in Middle East
Aptly named GITEX Global Startup Movement, the new event will support more than 400 startups from over 60 countries.
As part of GITEX Technology Week 2016, the annual technology conference will see the launch of the GITEX Global Startup Movement. The event will feature over 400 startups from across 60 countries, as well as 1,000 entrepreneurs.
While 79% of participating startups are expected to hail from the across the global market, the UAE will be represented with 85 startups. Furthermore, over 200 investors and influential tech investment executive, which include SoftBank Group International, Accel Partners, Golden Gate Ventures, Middle East Venture Partners amongst others, will be present to evaluate startups for potential investment.
According to figures taken from the Global Entrepreneurship Index 2016, the UAE ranks 19th in the world in terms of support for entrepreneurs. Similarly, findings from Pacific Research Institute's Startup Businesses and the Growth of Real State Gross Product, showed that each new startup can increase GDP by $1.2 million.
Commenting on the newly announced event, Trixie LohMirmand, senior vice president, Dubai World Trade Centre, organisers of GITEX Technology Week 2016, shared: "Through GITEX we want to create the life-changing opportunity for startups to meet face-to-face with legendary investors and accelerator firms, be it for funding support or advisory guidance that shall help them breakthrough in their ventures."
She added: "There is great aspiration and ambition amongst these young creative Arab minds to change the world with their imagination. By bringing them closer to their fellow startup peers from other countries, some of which are successful references, this valuable sharing experience built through mutual respect and admiration shall inspire their growth and infuse their innovation. GITEX is privileged to be an enabler to create these life-changing opportunities in their entrepreneurship journeys."
Furthermore, 14 government-led startup delegations are expected to participate at the GITEX Global Startup Movement. This includes the Netherlands, Poland, Russia, and United States. Egypt, Hungary, Japan, Morocco, and Oman, who will be bringing startup delegations to the GCC for the first time.
Zaen Hamid, head of Operations, AstroLabs, shared: "The GITEX Global Startup Movement is unprecedented in its focus on attracting startups from around the world to Dubai, an ideal hub for them to reach emerging markets from Africa to Asia.
"As an enabler of the regional startup ecosystem, AstroLabs is partnering with GITEX to support these entrepreneurs on their growth journey and we look forward to meeting them during the event."
Muhammed Meki, co-founder of AstroLabs is set to serve as a judge for the ‘Strut-Up' Pitch competition, which will see startups compete to take home a $160,000 in prize money across various categories. This includes Best GITEX Startup, Best Arab-Led Startup, the Best Women-Led Startup and the Best Youth Start Up.
The 36th edition of GITEX Technology Week will run from 16-20 October 2016 at the Dubai World Trade Centre.