MCA is pleased to announce the signing of an MoU with FICCI-LEAD, IAN and Turbo Start yesterday at India Pavilion, Expo 2020 Dubai.
Together, FICCI (Federation of Indian Chambers of Commerce & Industry)-LEAD, MCA, IAN (Indian Angel Network) and Turbo Start will build a bridge between India and UAE that empowers the business startup ecosystem in both countries.
Potential investors from the UAE & wider GCC will invest into the funds of IAN and Turbo Start. Further, Indian companies looking to expand their horizons towards the Middle East markets will be facilitated by the bridge. In addition, the funds will consider suitable investment opportunities for the companies in the UAE & wider GCC.
This first-of-its-kind initiative aims to significantly boost the booming start-up ecosystem of India & UAE.
Established in 2009 in Dubai UAE, MCA Auditing and MCA Management Consultants (MCA Gulf) have adopted a strategic expansion plan to increase its footprint in the GCC region and beyond. The recent presence in KSA follows the establishment of offices in Oman and Bahrain, adding to MCA’s continued pan-GCC growth and development in the years to come.
As part of the announcement, our Managing Partner, Mr. S Venkatesh stated that ‘The start-ups growing with the support of India-UAE partnership will delve into viable global ventures and reach the Unicorn level. MCA with its vast network in GCC region, is confident that we can support in this initiative”.
“India and UAE have collaborated for centuries and are furthering towards growth with the development of this start-up bridge. This relationship will be instrumental and will be a driving force for facilitating the start-ups of both countries”, said Mr. R Lakshmanan, MCA’s Senior Partner during this pivotal announcement of the Start Up Fund.
The India Pavilion at Expo 2020 Dubai UAE is currently showcasing new startups every week at the India innovation hub. These startups later participate in the ‘Elevate’ pitching sessions where entrepreneurs present their ideas to UAE-based investors.
