DUBAI, More than 250 start-ups are expected to participate in the AIM Startup Pitch Competition, which will be held on the sidelines of the 10th edition of the Annual Investment Meeting, AIM 2020, slated to take place at the Dubai World Trade Centre from 24th-26th March, 2020.
AIM 2020 will offer start-up exhibitors an opportunity to showcase their businesses and pitch their entrepreneurial ideas to a jury of experts in the areas of business management, entrepreneurship and technology.
AIM, the world’s leading investment platform, will be held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.
Winners will be rewarded cash prizes, along with gaining key insights and advice to help them increase their chances of receiving seed funding for their start-up projects.
Regarding the upcoming event, Dawood Al Shezawi, Chairman of the Organising Committee of AIM 2020, said, “AIM offers an opportunity for participating start-ups to increase their early stage venture capital or receive seed funding to start a business or expand its scope, given the crucial role start-ups play in strengthening new industries.”
The AIM Startup Award includes five categories spanning growth, which selects a start-up that has achieved the highest growth rate. The second category is social impact, used to select a start-up that has the most impact on society, using a sustainable and scalable business model. Participating start-ups will also be selected based upon their best use of innovation.
The climate and environmental impact category will select a start-up that has the greatest impact in healing or protecting the environment, while the fifth category is privacy and data protection, to be given to a start-up that has achieved the most scale in helping people or companies manage and protect their private data.
According to the 2019 MENA Venture Investment Report issued by MAGNiTT, there has been an increase of 66 percent in total funding for 238 investments worth US$471 million, compared to 2018, which saw a cash flow of $283 million delivered to regional start-ups. In terms of sectors, FinTech maintains its top position as the most active industry with 17 percent of the deals made, followed by e-commerce at 12 percent, and delivery and transport at 8 percent.
Source: Emirates News Agency