Dubai start-up event expected to raise $1bn in funding

Finalists will receive a total cash prize of $50,000
Dubai start-up event expected to raise $1bn in funding
By Lubna Hamdan
Thu 22 Mar 2018 10:59 AM

The second edition of Annual Investment Meeting (AIM) Startup, which will take place from April 9-11 at the Dubai World Trade Centre, is expected to raise as much as $1 billion in funding this year, according to Arabnet.

The initiative by the UAE Ministry of Economy connects SMEs with investors from around the world. It will revolve around the theme, ‘Technology For Sustainable Development and Inclusive Growth’.

As many as 200 start ups are expected at the event, for which registration is still open.

Start-up movement in the Middle East is quickly moving, with 260 start-up deals generating $560 million in 2017, up from 176 deals raising $249 million in 2016.

Regional governments are also lowering entry-level barriers and improving the business ecosystem to encourage and boost small companies.

AIM Startup winners will be awarded various prizes, including a total cash prize of $50,000 to be distributed among finalists.

The event runs concurrently with the Annual Investment Meeting (AIM) – the world’s leading platform for Foreign Direct Investment (FDI), held under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai.

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