June 15, 2024

iAccel Gulf Business Incubator partners with Gulf Islamic Investments Eureka! GCC 2024 start-up business competition

 iAccel Gulf Business Incubator partners with Gulf Islamic Investments Eureka! GCC 2024 start-up business competition
  • Eureka! GCC 2024, the Gulf edition of Asia’s largest business model competition, is brought to the region by Gulf Islamic Investments (GII), a leading Shariah-compliant global alternative investment company with over US$4.5 billion of assets under management (AUM).

GII’s Eureka! GCC will utilize iAccel Gulf Business Incubator’s expertise and resources as a leading UAE startup facilitator to bolster startup talent and foster entrepreneurship across the Middle East, promoting innovation and economic growth.

10 May 2024: Dubai, UAE

GII’s Eureka! GCC, the Gulf region’s edition of Asia’s largest business model competition, has formed a strategic partnership with iAccel Gulf Business Incubator (iAccel GBI), to enhance its offering to participating nascent companies across the GCC.

To qualify for Eureka! GCC, businesses must be under three years of incorporation, established in the GCC, and not have exceeded $100,000 in external funding, to ensure support for those startups most in need of seed capital.

In its third edition, Gulf Islamic Investments (GII) in association with E-Cell, IIT Bombay, Eureka! GCC offers participants the opportunity to pitch their business ideas to a panel of prominent investors, venture capitalists, CEOs, and industry leaders. The winners will receive the coveted, prestigious E-Cell, IIT Bombay and GII’s Eureka! GCC title and a share of prizes worth US$100,000.

iAccel GBI is a catalyst in the UAE’s dynamic start-up ecosystem, under the patronage of Dubai SME, an agency of Dubai’s Department of Economy and Tourism (DET). Collaborating for the second time, iAccel GBI will leverage its expertise and resources to support the participating startups through mentorship and in-person sessions.

Pankaj Gupta, Co-Founder and Co-CEO Gulf Islamic Investments and Founder of Eureka! GCC commented, “Our initiative Eureka! GCC serves as a powerful catalyst for economic growth, significantly enhancing the region’s development. GII’s continued sponsorship of this event underlines our group’s ongoing support for the entrepreneurial spirit of business and innovation fostered in Dubai and the GCC. iAccel GBI’s involvement as Accelerator Partner adds a range of benefits to our innovative startups.  We have seen great value in our collaborations in the past years, and I am certain that this partnership will take the competition to the next level this year.”

CEO and Co-founder of iAccel Gulf Business Incubator, Deepak Ahuja – also a jury member at Eureka! GCC 2024, added, “Our collaboration with Gulf Islamic Investments Eureka! GCC reflects our shared vision of fostering entrepreneurship and driving innovation in the Middle East. As one of the leading startup ecosystem players, iAccel GBI is committed to empowering startups with the necessary resources, mentorship, and support to excel in today’s challenging business landscape, contributing directly to the UAE’s vibrant startup ecosystem and the transformative goals outlined in the D33 agenda.

GII’s Eureka! GCC is an excellent opportunity for budding entrepreneurs across the region to showcase their talents and take their startups to the next level. I am excited to witness some great concepts coming out of it”.

With a strong portfolio of over 18 tech start-ups from India, USA, Singapore, and an angel network with 325+ mentors and advisors from the GCC, iAccel GBI has built a strong value proposition equipping young and entrepreneurial talent with knowledge, tools, and connections necessary to fuel their business growth. It offers end-to-end acceleration support to high-potential startups, right from business setup and access to mentors, advisors, investors and market access through public and private sectors.