Recognising the worth of becoming a hub for Indian tech entrepreneurs is a thing that the UAE in typical and Abu Dhabi in distinct normally takes very seriously, claims Khaled Al Qubaisi,
SPONSORED – The romance concerning the UAE and India is a storied and symbiotic a person. Both nations around the world gain from a robust trade romance that extends from imports and exports to talent and a prosperous cultural exchange.
A lot more lately, having said that, this has expanded into bilateral investments in the engineering house, setting up up digital ecosystems and futuristic, know-how-based economies, amid UAE’s tech growth. The latest example is Mubadala’s $1.2 billion investment in Jio Platforms. Jio, a Reliance Industries subsidiary, is a next-gen tech platform that gives cost-effective digital solutions across India at the past depend, the platform had extra than 388 million subscribers.
The mutually effective trade romance is a continually booming a person, with the UAE becoming India’s third highest-investing trade companion, right after China and the US. According to the Indian Office of Commerce, the UAE-India import and export shell out for 2018 was believed at $30.30 billion. And with the UAE only a 3-to-four-hour flight absent, it is a purely natural and uncomplicated move for formidable startups wanting to go international.
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Recognising the worth of becoming a hub for Indian tech entrepreneurs is a thing that the UAE in typical and Abu Dhabi in distinct normally takes very seriously, claims Khaled Al Qubaisi, CEO of Aerospace, Renewables & ICT at Mubadala Investment Enterprise (Mubadala) – a international investment agency with a diversified portfolio around the environment, together with a array of foreseeable future-centric enterprises together with tech.
“India has been on our radar for a extensive time,” he explains. “Its large, youthful inhabitants, and digitally savvy inhabitants make it an ideal place to obtain investment opportunities. As the engineering ecosystem matures and grows, we want to be a element of that journey.
“India now is at a stage where the digital groundwork is becoming laid out for the next decade and further than,” he proceeds. “This is where Abu Dhabi and businesses like Mubadala occur in. Besides growth cash, our network of partners, synergies in just our portfolio and accessibility to international marketplaces can support unlock remarkable growth. We will continue on to explore partnerships in India, but also welcome startups at before phases to occur and set up in Abu Dhabi and leverage the opportunities becoming produced by organisations like Hub71.”
Hub71 is Abu Dhabi’s tech ecosystem, run by Mubadala and backed by strategic partners these types of as Microsoft and the Abu Dhabi federal government, to thrust the Emirate into becoming a person of the world’s most sophisticated hubs of technological excellence and innovation – and it is having discovered in all the proper destinations, by all the proper men and women.
“For startups from India and around the environment, there is no better time than now to have a foundation in Abu Dhabi, a international town which is heading as a result of a significant digital transformation and is invested in fostering innovation and entrepreneurship at immediate velocity,” claims Al Qubaisi. “Furthermore, Abu Dhabi has a federal government that prioritises innovation, know-how, engineering and is setting up a foreseeable future-proof financial system.”
Hub71 also gives tech startups with accessibility to partners like Mubadala, Abu Dhabi International Current market (ADGM), Techstars, Microsoft, Shorooq Companions and extra. Indian businesses joining Hub71 now are vying to be a crucial element of that growth story.
“With Hub71, Abu Dhabi has currently produced an entrepreneur-friendly ecosystem that will make it the ideal launch pad for startups,” claims Al Qubaisi. “ADGM, Hub71’s strategic companion, gives tech startups with open up, flexible, transparent and price tag-effective regulatory frameworks, % company and cash flow tax, as perfectly as one hundred% possession and repatriation of income.
Hub71 also gives an beautiful incentive program for international startups with the added benefits of faster accessibility to cash, uncomplicated accessibility to regional and international marketplaces, numerous worldwide tech talent and a vibrant community.
A further gain of joining the Hub71 ecosystem is that Indian startups have uncomplicated accessibility to their residence industry, as perfectly as other marketplaces, primarily across the Center East, Africa and the rest of Asia. The substantial high quality of everyday living adds to the benefit of Abu Dhabi, building it an all-encompassing proposition for startups seeking a springboard for international growth.
And of course, with so several Indian expats calling Abu Dhabi residence, it is uncomplicated to obtain the food, cinema, spiritual worship and cultural activities that they’d obtain again residence.
The UAE’s journey into the foreseeable future is perfectly underway, and the federal government has shared its formidable investment plans to continue on setting up environment-class R&D centres, digital infrastructure, 5G networks and cloud engineering, thereby environment the proper foundations for tech growth.