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KPMG’s private sector arm in the UAE hopes to support local tech or tech-based businesses with access to a global network of investors, advisors and large industry players through a new startup competition.
Registration is now open for KPMG Private Enterprise’s “UAE Technology Innovators” competition, which will be held from September 6 to 7. Eligible companies must be technology-focused or technology-enabled, registered in the UAE, and established for no less than five years. This could include startups with more than $1 million in revenue; scale-ups with $15 million in revenue; or companies that have raised at least $500,000 in equity.
Anurag Bajpai, partner and head of private business at KPMG Lower Gulf, said businesses across the UAE will have the opportunity to “connect with some of the most trusted advisors, industry leaders and Influencers make important connections and gain recognition.”
“These are important networks that any fast-growing technology company doesn’t want to miss,” he added. In addition to networking and recognition, the winners will advance to the Global Technology Innovators finals to be held in Portugal in November.
According to a KPMG statement, the UAE iteration was inspired by a similar KPMG Best British Technology Pioneer competition held in the UK in 2019, which featured promising “disruptors” such as Echo Health and What3Words. The competition has since expanded to 16 other countries and now includes the investment-friendly market of the United Arab Emirates.
Bajpai said there are several factors that make the UAE a hotspot for tech startups. “Innovative companies in the UAE are introducing technological breakthroughs that are transforming businesses and disrupting industries.”
“The government recognizes that innovation is the foundation of socio-economic development and therefore creates an ecosystem that attracts and nurtures creativity and talent. We aim to support start-ups that contribute to this national vision.”
Companies interested in applying for the competition can find more information on the KPMG website.
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