Dubai:Dubai Future District Fund (DFDF) and Buimerc Corporation Ltd have entered into a strategic partnership aimed at enhancing innovation, investment, and entrepreneurship in Dubai. The collaboration seeks to strengthen ties between the UAE and India by exploring various opportunities within these sectors.
According to Emirates News Agency, the announcement was made during a meeting at the Consulate General of India in Dubai. The event was attended by key figures such as Deepak Mittal, Ambassador of India to the UAE, and Vishnu Vardhan Reddy, Consul-General of India in Dubai and the Northern Emirates, alongside other officials. The partnership is designed to support Dubai's entrepreneurship ecosystem by providing market insights, aiding founders and venture fund managers to establish themselves in Dubai, and organizing joint initiatives like entrepreneur programs and events.
Buimerc, a Dubai-based investment company with Indian roots, contributes its extensive experience in both the UAE and Indian markets and a commitment to long-term value creation. This partnership is aligned with the Dubai Economic Agenda D33, which aims to position Dubai as a leading global hub for innovation, doubling its economy's size and ranking among the world's top three cities for investment and living.
Mittal highlighted the importance of the partnership in enhancing UAE-India relations through expanded cooperation in innovation and entrepreneurship, fostering new investment opportunities. Reddy emphasized the opening of new chapters in technology cooperation, providing Indian startups access to the UAE's venture capital ecosystem.
Khalfan Juma Belhoul, Chairman of DFDF and CEO of Dubai Future Foundation, expressed that this collaboration is part of broader international efforts to establish Dubai as a prime location for entrepreneurs and investors. Arif Amiri, CEO of DIFC Authority, noted the role of DFDF and Buimerc in creating avenues for Indian founders to establish and grow their businesses internationally, thereby reinforcing economic ties between the two nations.
Siddharth Balachandran, Executive Chairman and CEO of Buimerc, reaffirmed the commitment to support the venture capital ecosystem as envisioned under D33, while Nader Albastaki, Managing Director of DFDF, emphasized the partnership's potential to help companies establish and expand in Dubai using the Fund's extensive network. DFDF, supported by Dubai International Financial Centre and Dubai Future Foundation, invests in diverse sectors, including PropTech, HealthTech, and Web3, at various growth stages.
