The inaugural UAE-India Founders’ Retreat, held from December 6 to 8, 2024, brought together over 60 of India’s most prominent start-up founders with UAE investors, business leaders, and policymakers. The event marked a significant step toward deepening collaboration between the two nations, focusing on new avenues for investment, innovation, and cross-border partnerships.
Key Takeaways from the Founders’ Retreat
Creation of New Investment Partnerships: One of the primary outcomes of the retreat was the establishment of new investment partnerships between Indian start-ups and UAE investors. These partnerships are expected to inject significant funding into India’s start-up sector, particularly in emerging fields like fintech, AI, and digital transformation. The face-to-face discussions provided a platform for Indian entrepreneurs to connect directly with key UAE investors, paving the way for future financial collaborations.
Launch of the UAE-India Start-Up Bridge: The retreat highlighted the continued growth of the UAE-India Start-up Bridge, which was initially set up under the UAE-India Comprehensive Economic Partnership Agreement (CEPA). This platform is designed to facilitate investment and business connections between the two countries.
With participation from founders of India’s leading unicorns, including boAt and CoinDCX, the event solidified the bridge’s role as a key instrument for creating pathways for Indian start-ups to expand internationally with the support of UAE investors.
Cross-Border Business Ventures: A major theme throughout the event was the potential for collaborative business ventures. The UAE’s role as a regional hub for investment, paired with India’s growing start-up ecosystem, presents a unique opportunity for both sides. UAE-based investors and Indian entrepreneurs discussed ways to scale businesses globally, focusing on the UAE as a gateway to international markets.
Public-Private Collaboration for Innovation: The retreat served as a platform to demonstrate how public-private collaborations can drive technological innovation and economic growth. By bringing together influential leaders from both countries, the event showcased how such partnerships could fuel the development of cutting-edge solutions and provide mutual benefits for both India and the UAE.
UAE’s Ongoing Investment in India’s Start-up Ecosystem: UAE investors reaffirmed their commitment to India’s tech and start-up sectors, which have already received nearly USD 20 billion in investments since 2000. The retreat spotlighted areas of interest for future investment, particularly in digital finance, sustainable technologies, and AI. UAE-based initiatives like the Abu Dhabi Investment Authority’s fund in India’s GIFT City are expected to provide new avenues for Indian businesses to scale in the global market.
Voices from the Retreat
Abdulnasser Alshaali, UAE Ambassador to India, shared his thoughts on the significance of the event: “The Founders’ Retreat is a powerful demonstration of how entrepreneurial excellence can create real economic value. Bringing UAE and Indian leaders together sets the stage for not just stronger business relations, but also for new, innovative ventures that transcend borders.”
Utsav Somani, Founder of Offline, one of the co-organizers of the event, described the retreat as a major step in fostering UAE-India collaboration. He said, “Integrating India’s entrepreneurial talent with the UAE’s robust support system is creating a launchpad for international success. This event shows how public-private partnerships can stimulate innovation and investment on a global scale.”
High-Profile Indian Founders at the Event
Among the Indian entrepreneurs who attended were Aman Gupta of boAt, Varun Dua of Acko, Sumit Gupta of CoinDCX, and Aakash Chaudhry of Aakash Institutes. These founders represent the diversity and dynamism of India’s start-up ecosystem. Their participation in the retreat opened new channels for investment and collaboration, ensuring that the opportunities for growth were not only theoretical but actionable.
Aman Gupta of boAt, which has become a leader in audio and wearable technology in India, remarked, “The UAE offers a strategic environment for companies like ours to expand. With the right investments and partnerships, we can accelerate our global growth, and the Founders’ Retreat is a critical step in facilitating that.”
Varun Dua of Acko, a disruptor in the insurance space, noted, “The digital economy is evolving rapidly, and it’s essential for businesses to have the right partners. This event has opened up new opportunities for Acko, where we can integrate new technologies and scale our operations with UAE’s support.”
Sumit Gupta, co-founder of CoinDCX, shared his perspective on the growing role of blockchain technology in shaping the future of finance. He said, “As the global financial landscape evolves, this retreat allowed us to connect with investors and stakeholders who are as committed as we are to shaping the future of digital finance.”
Aakash Chaudhry of Aakash Institutes, a leader in educational tech, highlighted how India’s education sector can benefit from international partnerships.
The Path Forward
The UAE-India Founders’ Retreat provided a concrete platform for discussing the future of business and innovation between the two countries. Both India and the UAE are committed to advancing their start-up ecosystems, with India’s entrepreneurs benefiting from UAE’s investment expertise and strategic positioning as a global business hub.
The UAE continues to grow its investment presence in India, with new initiatives like the Abu Dhabi Investment Authority’s fund in India’s GIFT City. These developments are expected to offer new opportunities for Indian start-ups to scale regionally and globally. At the same time, Indian start-ups remain a vital part of the UAE’s long-term economic vision, particularly in sectors like fintech, AI, and green technologies.