(MENAFN- MISONIKA) Dubai, UAE, May 16, 2021
News Highlights
1. A staggering $1.03 billion was plowed into MENA-based startups in 2020, marking a 13 per cent increase from 2019, startup data platform MAGNiTT said, despite the devastating impact of the COVID-19 pandemic;
2. Three innovation hotspots – the UAE, Egypt and Saudi Arabia – accounted for 68 per cent of the total deals disclosed in 2020;
3. The UAE led the pack with 56 per cent of all capital deployed regionally, equalling $579m and with 26 per cent of the deals, with 129 transactions last year;
4. The agreement between Fincasa and IMT Business School will help further accelerate the start-up eco-system in the UAE
Fincasa, a Dubai-based investment advisory, has signed an agreement with IMT Business School Dubai, an international business school that is devoted to preparing industry-ready, socially responsible, and aware professionals for businesses in the Middle East and around the world, that will support budding entrepreneurs to grow their businesses in the UAE and help expand the start-up eco-system in the UAE.
Fincasa is a well-established financial advisory firm in UAE that invests in young talents and budding businesses.
The agreement will help fund business ideas of students of IMT Business School and turn them into successful start-ups with the support of Fincasa. This will eventually help breed new businesses, create employment and help the UAE economy grow.
Sayed Varis, CEO of Fincasa, “We get a lot of funding requests, a difficult choice indeed is to select the worthiest ones. However, this agreement will help us to support good business ideas coming from the students of IMT Business School and turn them into successful start-ups, help them grow.
“If things go as planned, we could see scores of start-ups being created through our collaborative efforts. Instead of becoming job-seekers, we will see IMT Business School produces job-creators through the start-ups.”
A staggering $1.03 billion was plowed into MENA-based startups in 2020, marking a 13 per cent increase from 2019, startup data platform MAGNiTT said, despite the devastating impact of the COVID-19 pandemic.
Three innovation hotspots – the UAE, Egypt and Saudi Arabia – accounted for 68 per cent of the total deals disclosed in 2020. The UAE led the pack with 56 per cent of all capital deployed regionally, equalling $579m and with 26 per cent of the deals, with 129 transactions last year.
IMT Business School Dubai produces a good number of young talented and skilled management professionals in the UAE.
Dr. Subhajyoti Ray, Director of IMT Business School Dubai, says, “The UAE ecosystem for the startup has never been better, but you still need the right skills and knowledge to be successful. This collaboration has the potential to revolutionize the start-up scenario in UAE.”
Dubai is a financial hub and is a city of opportunities. The city has seen a boost in startup companies being established. The government of UAE is popularly known to be a startup-friendly government due to its relaxed taxation policies, safe and secure environment, great infrastructure, and strong technological support available for a business to start and grow fast.
The government has implemented the Golden Visa for "investors and young talents". A foreigner can study, live and work without any support from a national sponsor as well as he can possess his own business in the UAE province. The Golden Visa will be issued for 5 or 10 years giving full opportunity to entrepreneurs to understand the market and flourish their business.
Apart from these, the UAE government has come up with various start-up friendly initiatives like free zones, stable exchange rate, multicultural environment, friendly immigration laws. In the above scenario the collaboration between these two giants, IMT and Fincasa are ready to write numerous new success stories of startups.
Ends
Photo Caption (From Left to Right): Dr. Rajesh Kumar, Dr. Subhajyoti Ray, Director of IMT Dubai, Mr Varis Sayed, Chief Executive Officer of Fincasa, Seema Mitra, Dr. Sujit K Sukumaran, after signing the agreement that will help entrepreneurship and boost the start-up eco-system in the UAE
Editors’ Notes
About Fincasa
Fincasa is a global financial advisory firm offering services for second Residency and Citizenship through Investment. Its strength is our determination to deliver outstanding results with speed and integrity.
Based in Dubai, UAE, its service-oriented mindset has enabled its professionals to consistently meet the high expectations of its valuable clients.
Fincasa philosophy is that the client’s success is the company’s responsibility and a major contributing factor to its reputation. It follows a simplified process that assists clients to keep themselves updated as well as easily track the status and assess information anytime from anywhere.
The company’s highly qualified team of industry experts bring a wealth of knowledge and valuable insights that have assisted it to reach the pinnacle in its domain. Over the years, its specially-curated solutions have assisted investors, entrepreneurs and HNW individuals obtain citizenship and residency in the country of their choice.
The company offers a range of services right from Foreign Direct Investment, Portfolio Management Guidance and Business Advisory Services to explore varied investment opportunities.
About IMT Business School
The IMT Business School is an international business school that is devoted to preparing industry-ready, socially responsible, and aware professionals for businesses in the Middle East and around the world. The Institute prides itself on having a strong academic focus, industry collaboration, and an entrepreneurial mindset. It offers accredited undergraduate and postgraduate programs to students from a multitude of nationalities and educational backgrounds. Established in 2006, the Institute was among the first International Business School to have set up a full-fledged campus in Dubai.
As a business school, IMT Business School recognizes the urgent need for businesses to hire professionals who can adapt to the ever-changing realities of the political, economic, and business environment, making sense of it quickly and adjusting to the changing context for creating value to both the organization and the society it is embedded in. Each program curriculum is carefully designed in order to build an entrepreneurial spirit and a consciousness of citizenship that would propel students to take leadership roles now or in their future careers.
The quality of education provided by IMT Business School is certified by the Ministry of Education, UAE (MOE) and licensed by KHDA, and all its programs are accredited by the CAA.
At the undergraduate level, IMT Business School offers a Bachelor of Science in Business Administration (full-time). At the graduate level, it offers a full-time MBA for fresh graduates and an Executive MBA degree in Dubai (on weekends) for working professionals. Students from various nationalities including the Middle East, India, Southeast Asia, and Europe study together and learn from both highly accomplished faculty members and diverse student groups.
The state-of-the-art campus located in Dubai International Academic City hosts world-class teaching and learning halls, a library and other curricular and extra-curricular infrastructure. On-campus hostel facilities also ensures a full university experience for students.
All in all, at IMT Business School, students get a grounded learning experience and international exposure that forms the foundation of a promising managerial career.
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