KHALEEJ TIMES, Saturday, Nov 21, 2020 | Rabi Al Thani 6, 1442
UAE, Israel startups 'grind' out further steps to boost network
Emirates:
The UAE and Israel accelerated their cooperation in the startup space by
hosting a virtual event that sought to further leverage the capabilities of not
only each other, but also from entrepreneurs around the world.
Over 100 participants from the UAE, Israel, Pakistan, India, the United States
and other countries joined a first-of-its-kind joint event hosted by the Dubai
and Israel chapters of Startup Grind, a community made up of over 3.5 million
members worldwide that opens opportunities through business connections.
Dr Saeed Al Dhaheri, chairman of the board of Dubai’s Smartworld, and Dr Erel
Margalit, one of Israel’s most high-profile startup entrepreneurs, were among
the speakers at the event.
Dr Margalit recently led a high-level delegation of Israeli tech CEOs to Dubai
in which they met with ministers, investors, customers and local entrepreneurs.
The virtual gathering was a natural continuation of the conversations, having
met the entrepreneurs from Startup Grind Dubai.
“Through the Startup Grind ecosystem, we are excited to foster the building of
relationships between those on different coasts,” Dubai Chapter leader Damu
Winston said.
“This connection builds bridges between our chapters and opens opportunities for
our community members,” Israel chapter Shahar Matorin added.
Dr Margalit — the founder of the Jerusalem Venture Partners Fund and chairman of
Margalit Startup City — said hopes to work together and facilitate regional
opportunities.
“Entrepreneurs will be creating the bridges, with the large things that Dubai,
Abu Dhabi and the UAE in general want to achieve,” he said in a statement to
Khaleej Times. The startup ecosystem can play a huge part in building the bridge
between these two countries, and “this is not just about business; it is about
building something together”.
The two shared their visions of new hubs in Dubai and Abu Dhabi, creating
centres of excellence in line with the Margalit StartupCity model of creating
theme-based ecosystems worldwide and the UAE strategy to lead the next
industrial revolution. An AI-themed innovation hub as well as a centre focused
on foodtech were also tackled.
Dr Al Dhaheri is confident that the UAE can work closely with Israel, with the
commonalities between the two economies. “Israel is one of the top 10 startup
ecosystems in the world; this normalisation [of bilateral ties] will bring
opportunities for us both.”
Dr Al Dhaheri, a leading member of UAE academia, also stressed the importance of
strengthening research and development.
“We need to strengthen our relationship in the R&D space; we need to capitalise
on it and link it to the industry,” he added.
Covid-19 has also emphasised the importance of localisation for the UAE, “Food
security has been identified as a priority for the UAE, which is looking at
local startups as well as from Israel for solutions in this field,” Dr Al
Dhaheri pointed out.
With the Margalit Startup City Centers of Excellence already successful across
Israel and New York City, Dr Margalit shared his vision of a UAE hub as “a
concertation of a variety of Israeli and international companies building
bridges of innovation in the region”.
Meanwhile, Dr Sara Al Madani, co-founder and CEO of the fashion industry’s
HalaHi, advised young entrepreneurs trying to take advantage of so many new and
exciting opportunities, to be cautious.
“Taking calculated risks, staying focused and making the best use of their time
is key. Innovation is an ecosystem; you take something that exists and create a
better version,” she added.