Page 72 - Ministry of Economy - December2017

12/26/2017 25 out of 100 MENA startups make it to the final stage of the AIM Startup 2018 as race for excellence accelerates - Business Intelligence Midd…
AIM Startup runs concurrently with the Annual Investment Meeting (AIM) – the world’s
leading platform for Foreign Direct Investment (FDI) in emerging markets, which is held
under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE
Vice-President, Prime Minister and Ruler of Dubai. The platform is aimed at facilitating
strategic networking and promoting investment.

Start-ups in the region need funding and institutional support to expand and play their due
role in changing the socio-economic landscape. A number of public funds, such as Dubai
SME, Khalifa Fund, King Abdullah University of Science and Technology (KAUST)
Entrepreneurship Centre and venture capital funds are gradually coming up with start-up
funds that will help the start-up sector to grow fast.

Christopher Beaudoin, CEO and Co- Founder, Startup Algorizm – one of the Top 5 Startup
from AIM Startup Jeddah Pitch Competition, says, “Algorizm plans to help increase quick
and accurate diagnoses of infectious diseases using novel DNA sequencing technologies
and analyses that will improve health diagnosis – a very important aspect of healthcare
treatment. Currently, King Abdullah University of Science and Technology (KAUST)
Entrepreneurship Center has provided support in the form of mentorship and funding, which
will help us to develop and spread the business further.”

These start-ups, once funded properly, will change the socio-economic landscape of the
Arab World.

Haifa Bedrawi, Project Manager of AIM Startup, says, “As we finalise the list of the top
sustainable start-ups in the MENA region that are using technology to advance society, we
see a massive surge in the number of start-ups coming up with game-changing applications
that will reduce human efforts in getting things done. This reflects a change among the
young population in the Arab World and how these start-ups will change the way we live,
work, shop and enjoy the benefits of science and technology.”

“With more and more people now digitally connected in the region, most processes in
business and work will become automated and paperless. The future is very exciting and
AIM Startup will definitely reflect these exciting changes at its annual event next April.”

A number of entities have supported the AIM Startup MENA Roadshow and Pitch
Competitions. In Jordan, Queen Rania Center for Entrepreneurship of Princess Sumaya
University for Technology was the host partner while Oasis 500 was the Community Partner.

In Saudi Arabia, King Abdullah University of Science and Technology, Monsha’at, Wadi
Mekkah Qotuf and Startups House along with Mohammad Bin Salman College for Business
and Entrepreneurship, and King Abdullah Economic City supported the Pitch Competitions
across the kingdom. In Jeddah, Mohammad Bin Salman College (MBSC) Hosted the Pitch
Competition while, in Riyadh, the pitch competition was hosted by King Saud University. In
Dammam, the pitch was hosted by Prince Sultan Fund for Women Development while the
Bahrain pitch was hosted by Riyadat ‑ Bahrain Business Incubator Centre and Start-up
Bahrain supporting as Community Partner.

Photo Captions:

1. (above) Saudi Startup based on Smart City Sector ‘Sadeem’ Pitching at Jeddah Pitch
Competition in front of the expert jury members

2. (inset) For illustrative purposes only (File photo)
About AIM Startup

AIM Startup was launched in 2017 as an initiative of the UAE Ministry of Economy to
connect promising start-ups with investors and business partners from other parts of the
world — set in the heart of the UAE’s Annual Investment Meeting, the world’s leading FDI
platform for emerging markets and held under the patronage of H.H. Sheikh Mohammed Bin
Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

AIM Startup is an ideal platform for start-up companies looking to raise capital, expand into
new markets and forge meaningful business relationships with major investors, business
leaders, representatives of international institutions and government entities. April 9-11, AIM
Startup will host the second edition of its annual Innovation Showcase and Pitch
Competition in Dubai, UAE, in conjunction with the Annual Investment Meeting, Future
Cities Show and DIGAE.

This year, 200 promising start-ups will convene under one roof to meet with investors,
corporates, government representatives and industry experts and will be given the
opportunity to demo their ground-breaking solutions to a global audience of more than
19,000.
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