DUBAI: The Dubai Startup Hub has launched its Scale-Up Dubai program that will help fast-growing start-ups or scale-ups through tailored support and guidance as they expand beyond the UAE borders.
The startup hub, an initiative of the Dubai Chamber of Commerce and Industry, has piloted the initiative in scale-ups that have already developed viable businesses and benefited from their participation in earlier programs, state news agency WAM reported.
The companies have joined interactive sessions and been offered opportunities to share their businesses with the public and private sectors, the report added.
Participants have also shared their technologies with government entities and businesses looking for innovation.
Scale-ups will get a digital stamp “Market Ready” once they finish the training.
Dubai launches fast-track initiative for scale-ups
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Dubai launches fast-track initiative for scale-ups
- The startup hub has piloted the initiative in scale-ups that have already developed viable businesses and benefited from their participation in earlier programs
- Participants have also shared their technologies with government entities and businesses looking for innovation
Second firm ends DP World investments over CEO’s Epstein ties
- British International Investment ‘shocked’ by allegations surrounding Sultan Ahmed bin Sulayem
- Decision follows in footsteps of Canadian pension fund La Caisse
LONDON: A second financial firm has axed future investments in Dubai logistics giant DP World after emails surfaced revealing close ties between its CEO and Jeffrey Epstein, Bloomberg reported.
British International Investment, a $13.6 billion UK government-owned development finance institution, followed in the footsteps of La Caisse, a major Canadian pension fund.
“We are shocked by the allegations emerging in the Epstein files regarding (DP World CEO) Sultan Ahmed bin Sulayem,” a BII spokesman said in a statement.
“In light of the allegations, we will not be making any new investments with DP World until the required actions have been taken by the company.”
The move follows the release by the US Department of Justice of a trove of emails highlighting personal ties between the CEO and Epstein.
The pair discussed the details of useful contacts in business and finance, proposed deals and made explicit reference to sexual encounters, the email exchanges show.
In 2021, BII — formerly CDC Group — said it would invest with DP World in an African platform, with initial ports in Senegal, Egypt and Somaliland. It committed $320 million to the project, with $400 million to be invested over several years.
