{"id":495753,"date":"2025-01-20T16:25:52","date_gmt":"2025-01-20T10:55:52","guid":{"rendered":"https:\/\/inc42.com\/?p=495753"},"modified":"2025-01-22T10:16:07","modified_gmt":"2025-01-22T04:46:07","slug":"dubai-internet-citys-md-explains-why-india-is-a-magnet-for-dubai-investors","status":"publish","type":"post","link":"https:\/\/inc42.com\/features\/dubai-internet-citys-md-explains-why-india-is-a-magnet-for-dubai-investors\/","title":{"rendered":"Dubai Internet City’s MD Explains Why India Is A Magnet For Dubai Investors"},"content":{"rendered":"

India\u2019s rapid growth in the digital economy has caught the attention of many countries, including Dubai. India is expected to become a trillion-dollar digital economy by FY26, which means it is becoming a key player in the global innovation scene.<\/p>\n

Dubai has recognised this and is looking to grow its ties with India. Since 2022, the India-UAE Startup Corridor has been working to support startups in both countries<\/a>. The goal is to help 50 startups over five years and turn at least 10 into unicorns by the end of this year. This is part of Dubai\u2019s broader plan to boost its digital economy.<\/p>\n

The UAE and India have strengthened their relationship in various areas, from government collaborations to business growth. Projects like India\u2019s GIFT City and Dubai Internet City are helping create more opportunities for cooperation. The rise of Indian tech companies in Dubai shows a shift toward a more digitally focussed economy.<\/p><\/blockquote>\n

In October 2023, India and the UAE signed an important agreement to work together in areas such as AI, renewable energy, healthcare, and advanced manufacturing. These efforts aim to drive innovation and strengthen industries. Dubai\u2019s D33 plan, which aims to create 30 unicorns over the next 10 years, reflects its commitment to boosting its economy with innovation.<\/p>\n

Dubai has become a key destination for tech companies in the MENA region. Events like Step Conference, GITEX Global, and Expand North Star bring global startups and investors together. With its strong business network, Dubai Internet City plays an important role in supporting these efforts.<\/p>\n

In a significant move, Dubai Internet City partnered with India\u2019s Nasscom at GITEX Global 2023 to encourage knowledge sharing and collaboration. This partnership helps Nasscom members connect with Dubai\u2019s growing tech ecosystem, supporting the goals of Dubai\u2019s Economic Agenda \u2018D33\u2019.<\/p><\/blockquote>\n

Further, a recent report from the Dubai Chamber of Commerce,<\/a> part of the Dubai Chambers network, highlighted that Indian businesses led the way in new non-Emirati companies joining the chamber in the first nine months of 2024. A total of 12,142 new Indian companies established themselves through the chamber, underscoring Dubai’s growing appeal to Indian investors and entrepreneurs.<\/p>\n

To understand these developments better, Inc42 spoke with Ammar Al Malik, executive vice president of commercial at TECOM Group and the managing director of Dubai Internet City.\u00a0<\/strong><\/p>\n

He explained how India\u2019s growing talent and an ever-expanding economy are attracting international investors. Besides, he also explained how Dubai has become a highly attractive launchpad for Indian startups looking to expand operations and access global markets.<\/p>\n

Here are the edited excerpts\u2026<\/strong><\/p>\n

Inc42: How has Dubai positioned itself as a hub for Indian tech startups looking to expand globally?<\/strong><\/p>\n

Ammar Al Malik<\/strong>: Dubai is the destination of choice for tech scaleups and startups with global ambitions, leveraging its strategic location to international markets, and a distinctly pro-business environment invested in nurturing innovators and disruptors.<\/p>\n

Dubai Internet City has played a pivotal role in cultivating the city\u2019s position as a global tech hub for more than 25 years, providing purpose-built infrastructure to more than 4,000 customers, including multinationals, startups, and Fortune 500 companies, such as Google, Meta, Visa, Mastercard, and Dell.<\/p>\n

Our vibrant community, home to leading Indian tech giants such as Tata Consultancy Services, Tata Communications, Infosys, and HCL Technologies, offers a fertile ground for Indian businesses to scale, connect with peers and global markets, and advance their growth ambitions.<\/p><\/blockquote>\n

Inc42: Can you elaborate on the support programmes or incentives Dubai provides to Indian tech startups setting up operations there?<\/strong><\/p>\n

Ammar Al Malik:<\/strong> A report by Startup Genome estimates that Dubai\u2019s startup ecosystem value crossed AED 84.4 Bn by the end of 2023, placing us ahead of other Gulf countries and second in the region, promising a flourishing startup landscape accessible via Dubai.<\/p>\n

Dubai Internet City also nurtures startups through synergies within TECOM Group to enable entrepreneurship, especially through in5, a startup incubator for businesses across tech, media, design, and science.<\/p>\n

Since its inception in 2013, in5 has supported over 1K startups by offering a platform to scale up with access to advisory, mentorship, networking, and potential investment opportunities, further enhancing Dubai\u2019s entrepreneurial opportunities.<\/p>\n

This includes in5 Tech, housed at a dedicated in5 Innovation Centre at Dubai Internet City, which is also home to the in5 Investor Hub. In this space, angel investors, venture capitalists, and institutional investors can directly engage with startups for funding and partnership opportunities.<\/p>\n

in5\u2019s networks also include global organisations such as The Indus Entrepreneurs (TiE), which was founded in 1992 and has been operating in Dubai since 2002. The incubator\u2019s strong relationships with such industry bodies offer greater access and ease of set-up or scale-up to Indian enterprises foraying into Dubai.<\/p>\n

Inc42: How can Indian scaleups\/startups leverage Dubai Internet City\u2019s infrastructure and network to scale their operations?<\/strong><\/p>\n

Ammar Al Malik: <\/strong>Dubai Internet City provides Indian scale-ups and startups access to a thriving ecosystem comprising more than 4,000 industry leaders, 31,000 professionals, and 19 Innovation and R&D centres, including those operated by global leaders such as 3M, IBM, HP, Ericsson, and Cisco.<\/p>\n

This co-location of innovators ignites knowledge exchange and unlocks mutually beneficial partnerships, helping established companies tap into fresh perspectives and collaborations that propel business growth. Our holistic tech ecosystem features premium infrastructure and knowledge-sharing opportunities for the world\u2019s brightest minds to work, connect, and innovate.<\/p>\n

This includes phase I of Innovation Hub, launched in 2018 and home to industry leaders such as Gartner and Snap. The upcoming phases II and III of Innovation Hub at Dubai Internet City will add over 530,000 sq ft of premium spaces to the district. These are being developed at a cost north of AED 780 Mn.<\/p>\n

The strategic acquisition of two Grade-A buildings at Dubai Internet City, announced by TECOM Group in August 2024, adds 334,000 sq ft to address the demand for high-quality spaces in our community. In October 2024, TECOM Group also completed the acquisition of Office Park, a high-occupancy Grade-A asset in Dubai Internet City that is home to multinational companies like Uber, through an AED 720 Mn transaction.<\/p>\n

Startups also have access to D\/Quarters\u2019 modern coworking spaces, launched in June 2022 at the heart of two of Dubai\u2019s most vibrant business districts, Dubai Internet City and Dubai Media City. D\/Quarters \u2013 which also doubled its offering at Dubai Science Park in December 2024 \u2013 provides open coworking spaces for startups and talented individuals in the city, including professionals granted Golden Visas for their exceptional contributions in the knowledge- and innovation-based sectors.<\/p>\n

Inc42: What are the key sectors where Dubai sees the most potential for collaboration with Indian startups\/scaleups?<\/strong><\/p>\n

Ammar Al Malik:<\/strong> Sector-agnostic innovation is the bedrock of Dubai\u2019s and the UAE\u2019s future-focussed programmes, and the market is brimming with opportunities. A vital opportunity for tech companies looking to expand from Dubai lies in the convergence of technologies like artificial intelligence (AI), blockchain, cybersecurity, and the metaverse.<\/p>\n

We also see inspiring businesses at in5 accelerating advancements in agritech, healthtech, food waste, and data management making impressive strides in their growth trajectories. For example, Desert Control, which converts arid sand into fertile soil and is now part of in5\u2019s alumni network, raised AED 85 Mn in a successful IPO in 2021. in5 alumnus Grubtech raised AED 55 Mn as part of its Series B round in May 2024.<\/p>\n

Inc42: How does Dubai facilitate funding opportunities for Indian startups through its local investors or global connections?<\/strong><\/p>\n

Ammar Al Malik<\/strong>: Dubai and the UAE are an increasingly attractive investment market for global venture capitalists and private equity firms. This makes our city a destination of choice for innovators and startups. Alongside proactive government strategies to drive entrepreneurship and innovation, Dubai\u2019s global business ecosystem delivers unique investment, partnership, and corporate innovation opportunities that can power sustainable expansion.<\/p>\n

Platforms like in5 also forge a bridge between startups and investors through exclusive networking and engagement events or by showcasing them at larger industry conferences to amplify startup visibility.<\/p>\n

The results speak for themselves \u2013 in5 startups have raised over AED 7.8 Bn in funding to date, with many of our alumni continuing to secure capital across Series A, B, and C rounds.<\/p><\/blockquote>\n

Inc42: What advantages does Dubai offer in terms of regulatory frameworks, tax benefits, and ease of doing business for Indian founders?<\/strong><\/p>\n

Ammar Al Malik:<\/strong> Dubai offers a highly attractive environment for Indian startups looking to expand operations and access global markets. Its pro-business legislation pairs with regulatory frameworks that focus on streamlining the ease of doing business.<\/p>\n

This agile ecosystem is bolstered by proactive strategies such as the Dubai Economic Agenda \u2018D33\u2019, Dubai\u2019s Universal Blueprint for AI, Dubai Research and Development Programme, and the National Tech Skills Enhancement Programme that offer blueprints to enable innovation and entrepreneurship.<\/p>\n

At Dubai Internet City, we further enhance the ease of doing business by providing a dedicated support system for our community. Through axs \u2013 TECOM Group\u2019s dedicated smart platform that offers access to over 200 government and corporate services \u2013 we also offer streamlined and digital licensing, visa processing, and business set-up pathways, minimising administrative burdens and allowing founders to focus on their business.<\/p>\n

Our ongoing investments in infrastructure and commitment to fostering collaborative communities across our 10 business districts in Dubai further strengthen the city\u2019s appeal as a premier destination for Indian entrepreneurs.<\/p>\n

Inc42: Can you share some success stories of Indian startups that have benefited from setting up in Dubai?<\/strong><\/p>\n

Ammar Al Malik:<\/strong> We have seen numerous Indian startups flourish in Dubai. One compelling example is AstraGene, the Middle East’s pioneering molecular diagnostic manufacturing company.<\/p>\n

A member of in5 Science \u2013 the science-focussed vertical of in5, launched alongside Dubai Science Park in June 2023 \u2013 AstraGene produces advanced molecular diagnostic products through its in-house R&D and innovation teams, focussing on longevity, genomics, and gut microbiome solutions. AstraGene\u2019s journey underscores the strength of Dubai\u2019s supportive business ecosystem and resources.<\/p>\n

Another success story is ShopDoc, a digital healthcare company under in5\u2019s umbrella that plans to establish a luxury medical tourism corridor between Dubai and India\u2019s Malabar-Mangalore region. With an investment exceeding AED 183 Mn, the company is partnering with healthcare and wellness providers to offer a mix of traditional ayurveda- and herbal-based treatment and rejuvenation programmes, leveraging Dubai\u2019s tech, healthcare, and business platforms to redefine medical tourism and wellness.<\/p>\n

Inc42: How does Dubai’s strategic location help Indian startups access markets in the Middle East, Africa, and Europe?<\/strong><\/p>\n

Ammar Al Malik:<\/strong> Nearly a third of the world’s population is accessible via a three-hour flight from Dubai, while two-thirds is within an eight-hour flying distance, making it a gateway to the Middle Eastern, North African, and European regions.<\/p>\n

Dubai is the epicentre of the global business ecosystem and an attractive logistics hub that makes it the place to be for international businesses of all sizes, helping them develop agile, robust supply chains by better connecting them to global audiences.<\/p>\n

Moreover, Indian engineers \u2013 renowned globally for their expertise \u2013 are ideally placed to leverage Dubai’s strategic location within an eight-hour flight from two-thirds of the global population.<\/p>\n

Residency pathways such as Golden and Green Visas for talented individuals and a thriving community exceeding 3.5 Mn Indian residents in the UAE make Dubai an attractive destination for Indian talent. Offering long-term stability, access to global peers and professionals, and a familiar cultural landscape, Dubai is the cradle for engineering talent from India and beyond to live, work, and invest in.<\/p>\n

Inc42: What role has the Indian government\/investors\/stakeholders played in boosting Dubai\u2019s tech ecosystem?<\/strong><\/p>\n

Ammar Al Malik:<\/strong> Government leaders, investors, and stakeholders in both India and the UAE have played a significant role in bolstering Dubai’s tech ecosystem for global impact.<\/p>\n

High-level engagements, such as the meeting between His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, and Indian Prime Minister Narendra Modi in September 2024, as well as Prime Minister Modi\u2019s participation in the World Governments Summit in Dubai in February 2024, reaffirm the strength of these bilateral ties.<\/p>\n

In July 2023, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Prime Minister Modi witnessed the signing of two MoUs between the Central Bank of the UAE (CBUAE) and the Reserve Bank of India (RBI).<\/p>\n

CBUAE and the RBI plan to develop a framework that promotes the use of their respective national currencies in cross-border transactions. They also seek to streamline payment services in both countries by linking their instant payment platforms (IPPs), local payment card systems, and financial messaging systems.<\/p><\/blockquote>\n

Inc42: Are there any collaborations or partnerships planned to further strengthen the India-Dubai tech ecosystem?<\/strong><\/p>\n

Ammar Al Malik:<\/strong> Several collaborations are in motion to further solidify the India-Dubai tech ecosystem. The Comprehensive Economic Partnership Agreement (CEPA) agreement already provides a robust framework for enhanced cooperation. Our collaboration with Nasscom is aimed at attracting leading Indian technology companies to Dubai, fostering growth and innovation within the city\u2019s tech landscape.<\/p>\n

This partnership will also provide Indian tech firms with access to Dubai Internet City\u2019s world-class infrastructure \u2013 including Grade-A offices and D\/Quarters\u2019 coworking spaces \u2013 in addition to our business-friendly ecosystem of global innovators and inventors.<\/p>\n

Moreover, Dubai Internet City\u2019s sister districts, Dubai Knowledge Park and Dubai International Academic City, are home to world-class Indian institutions such as Symbiosis University Dubai, Amity University Dubai, BITS Pilani Dubai, and the Manipal Academy of Higher Education.<\/p>\n

This concentration of academic excellence creates a talent pipeline for startups and businesses in Dubai, helping to fuel innovation and empowering entrepreneurs and professionals with opportunities for continuous learning and development. This robust educational infrastructure further solidifies Dubai\u2019s position as a leading global hub for Indian talent and investment.<\/p>\n

Inc42: What are some other key investment trends we can see for Indian startups in 2025 in the Dubai startup ecosystem?<\/strong><\/p>\n

Ammar Al Malik:<\/strong> Dubai and India share synergistic economic priorities for 2025, with a strong focus on opportunities that can enhance life for future generations, such as AI, cleantech, and healthtech.<\/p>\n

This alignment creates significant opportunities for Indian startups, with such innovative companies poised for increased traction not only within Dubai\u2019s thriving business ecosystem but also across international markets.<\/p>\n

Their expansion can be facilitated by leveraging the extensive networks of global partners and peers based at in5, Dubai Internet City, and TECOM Group.<\/p>\n

India\u2019s continued improvements in entrepreneurial awareness education, will further strengthen the capabilities and potential of these emerging Indian ventures.<\/p>\n

This combination of aligned priorities, robust support networks, and enhanced entrepreneurial skills positions Indian startups for continued success in Dubai in 2025 and beyond.<\/p>\n

[Edited By Shishir Parasher]<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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