The Dubai Chamber of Commerce and Industry’s Dubai Startup Hub initiative has launched eight guides to help startups in the UAE do business, as the Chamber concluded its fifth and final ‘Networking Series’.

The new guides cover eight key sectors, namely, Fintech, Healthcare, Transportation, Education, F&B, Social Impact, Sustainability, and Travel, Tourism & Hospitality. They provide ample resources – including relevant data, statistics, opportunities, and legislation – for entrepreneurs looking to launch startups in each of the eight sectors, additionally offering advice on how to apply for licences.

The guides also provide a comprehensive list of business incubators and accelerators that can help entrepreneurs grow their startups, as well as events and conferences that focus on their specific sectors.

The fifth edition of Dubai Chamber’s Networking Series drew more than 360 participants, 22 per cent of them Emirati entrepreneurs, in addition to startup owners from around the world tuning in for the virtual event.

“The guides are an innovative new tool to help promising startups in each of the target sectors,” asserted Natalia Sycheva, senior manager, Special Projects and Entrepreneurship at Dubai Chamber. “They form part of the Chamber’s plan to address the repercussions of the Covid-19 pandemic, where a significant chunk of our investments has been earmarked for knowledge-building and providing information for entrepreneurs and startups at this critical time.”

“The Dubai Startup Hub’s mandate is to support emerging companies and help them understand and navigate the procedures for establishing businesses in Dubai,” she explained. “The initiative serves to facilitate the exchange of knowledge and lays solid foundations for partnership and cooperation, all in an effort to drive growth in the emirate’s startup scene. This ultimately boosts Dubai’s entrepreneurial ecosystem and strengthens its position as a global destination for new businesses.”

Dubai Chamber’s Networking Series has drawn more than 1,650 participants throughout its five editions, including entrepreneurs, startup founders, and investors, where a total of 48 meetings were held. Attendees came together to showcase success stories, explore ways to overcome challenges, highlight the necessary tools for business development, and help create an environment for networking and building new relationships.

Established by Dubai Chamber in 2016, Dubai Startup Hub is the first initiative of its kind in the Middle East and North Africa region, with a mandate to emphasise the value of public and private sector collaboration, in addition to fostering innovation and entrepreneurship as key drivers of the economy in Dubai and the UAE.

The initiative provides a multi-programme platform for entrepreneurs from around the world to explore business opportunities in Dubai, while also enabling them to benefit from a set of initiatives and services, such as the Market Access Programme, Emirati Development Programme, Dubai Smartpreneur Competition, and the Co-Founder Dubai Programme, among others.

Source:https://www.khaleejtimes.com/business/local/dubai-startup-hub-launches-eight-guides-to-support-entrepreneurs

Asian markets mostly rose on Tuesday following a record-breaking lead from Wall Street as investors cheered the passage of a huge US stimulus bill, which has helped temper fears about surging coronavirus infections and a new, fast-spreading strain of the disease.

With Donald Trump’s decision to finally sign off on the $900 billion rescue package and a post-Brexit trade deal now agreed, the mood on trading floors is a little lighter heading into the new year.

News that more vaccines could be rolled out soon was also providing a lift, even as governments around the world are forced to impose lockdowns and other strict, economically painful measures to contain surging Covid-19 cases.

“Where we are right now in the equity market is somewhat of a sweet spot,” Michael Cuggino, at Permanent Portfolio Family of Funds, told Bloomberg TV. “We’ve got stimulus, likely more on the way.

“You’ve got great comps on earnings going into next year with respect to equities, and you have a pent-up demand situation as the economy both in the US and globally comes out of Covid.”

Trump had held off signing the stimulus package for almost a week saying it did not provide enough cash to Americans and calling for handouts to be jacked up to $2,000 from the $600 amount offered in the initial bill.

Democrats agreed more was needed for people and on Monday the House of Representatives approved a motion to increase the payments, though it will likely meet resistance from Republicans in the Senate.

President-elect Joe Biden, asked by a reporter Monday if he favoured raising the payouts to $2,000, replied, “Yes.”

All three main indexes ended at record highs, as did Germany’s DAX, and most of Asia followed suit.

Tokyo and Wellington piled on more than one percent each, while Hong Kong, Sydney, Singapore, Manila and Jakarta also enjoyed healthy gains. Shanghai barely moved, and Seoul and Taipei were slightly lower.

The cash handouts will “provide that immediate key consumption bridge through the first quarter until the vaccines become more widely distributed”, said Axi strategist Stephen Innes.

“The stipends will arrive quickly and are spent rapidly, providing the US economy with immediate retail sales spending bonanza boost. This splurge could be multiplied by three if the Senate agrees to rubber-stamp support for increased Covid cheques.”

Tokyo – Nikkei 225: UP 1.6 percent at 27,292.37 (break)

Hong Kong – Hang Seng: UP 0.8 percent at 26,528.34

Shanghai – Composite: FLAT percent at 3,398.16

Pound/dollar: UP at $1.3475 from $1.3451 at 2245 GMT

Euro/pound: UP at 90.80 pence from 90.71 pence

Euro/dollar: UP at $1.2235 from $1.2213

Dollar/yen: UP at 103.80 yen from 103.76 yen

West Texas Intermediate: UP 0.7 percent at $47.96 per barrel

Brent North Sea Crude: UP 0.7 percent at $51.20 per barrel

New York – Dow: UP 0.7 percent at 30,403.97 (close)

London – FTSE 100: UP 0.1 percent at 6,502.11 (close)

Source:https://www.khaleejtimes.com/business/markets/most-asia-markets-advance-after-wall-street-sets-new-records

Dubai Startup Hub, an initiative of Dubai Chamber of Commerce and Industry, recorded a 236 per cent year-over-year surge in membership during the first half of 2020, as accelerated digital transformation led many startups in Dubai and abroad to capitalise on emerging opportunities and bring new solutions to the emirate

Dubai Startup Hub membership reached 1,568 in H1-2020, compared to 466 in the same period last year, while a 13 percent in average monthly growth was observed. Meanwhile, 1,200 entrepreneurs benefitted from Dubai Startup Hub’s programmes and 23 webinars, bringing the total number of beneficiaries to over 8,200.

UAE nationals accounted for a quarter of all Dubai Startup Hub beneficiaries in first half of 2020, while 30 Emirati entrepreneurs are now one step closer to launching their businesses after graduating from the first-ever Emirati Development Programme earlier this year.

In light of Covid-19’s impact on the business landscape, Dubai Startup Hub realigned its offerings and resources to meet the evolving needs of startups in Dubai, while organising virtual events that addressed matters of importance to startups and SMEs such as funding, banking, global expansion, market research and data and digital innovation.

From a global perspective, Dubai Startup Hub collaborated with more than 70 business incubators in countries across the world during Q1 and Q2, including India, USA, UK, Russia, Hungary, Germany and China, and received more than 50 percent of international startup applications for its core programmes.

Among new members, Dubai Startup Hub attracted a large volume of high-potential startups specialising in fintech, healthtech, education, e-commerce, sustainability, wellness and supply chain that emerged in response to changing market conditions, signalling a resurgence in entrepreneurial activity.

In addition, Dubai Startup Hub witnessed growing interest and record participation among international startups, and within the Indian, Chinese and African markets in particular. In an effort to meet this growing demand, Dubi Startup Hub aligned its efforts with Dubai Chamber’s international offices to attract high-potential businesses to the Dubai market.

Hamad Buamim, President & CEO of Dubai Chamber of Commerce and Industry, said Dubai Startup Hub’s performance and achievements reflects the strong entrepreneurial spirit that exists in the UAE, as well as the crucial role that startups are playing in bringing unique business concepts that fill market gaps.

Despite new challenges posed by Covid-19, he noted that the pandemic has created an opportunity for technology startups, in particular, that have demonstrated greater resilience as they capitalised on new market opportunities and benefitted from the various programmes, initiatives and support offered under Dubai Startup Hub, which continues to drive Dubai Chamber’s entrepreneurship strategy.

Going forward, startups and SMEs will have a major role to play building the UAE’s post-Covid-19 economy and developing new industries, he explained, as this segment of the business community serves as an engine driving innovation and supporting the country’s transition to a digitally-driven economy.

Established by Dubai Chamber in 2016, Dubai Startup Hub is the first initiative of its kind in the Middle East and North Africa region. The initiative is designed to emphasise the value of public and private sector collaboration and embodies the aim of encouraging innovation and entrepreneurship as a main driver of the economy of Dubai and the UAE.

Source:https://www.khaleejtimes.com/business/local/dubai-startup-hub-records-236-surge-in-membership-during-h1