UAE Partners with startup Deel for foreign workers visas
The UAE is forging a partnership with startup Deel to speed up the visa process for foreign workers, offering a new tool in the country’s push to attract international talent and become a regional technology hub. The global payroll and onboarding company offers hiring and payment services for companies that are aiming to recruit international employees or contractors. Payroll and onboarding company Deel will be able to offer its customers, which include the likes of Coinbase Global Inc. and Shopify Inc., faster access to visas through a strategic partnership with the UAE’s office for AI, digital economy, and remote work applications.
ShopDoc’s first metaverse venture for schools to open in UAE
The world’s first metaverse primary health initiative for schools will get off the ground in the UAE when ShopDoc, an Indian healthcare startup, announces its ‘My School Clinix’ a metaverse clinic for schools—soon. The project will be piloted across one hundred select schools in the UAE in the initial phase. “My School Clinix will be the world’s first metaverse primary clinic exclusively for schools in the UAE,” Shihab Makaniyil, founder and chief executive officer of ShopDoc, said.
Hub71 releases second edition of “The Outliers” for start-ups
The Department of Culture and Tourism (DCT), the Department of Health (DoH), Thales, and other corporate and governmental partners have joined forces with Hub71 to establish the second edition of The Outliers program, which will present business and operational issues for tech entrepreneurs to address. Start-ups will have the opportunity to customize their product to support the organization’s business objectives, develop commercial deals, and gain up to Dhs100,000 in value to fund the development of their proof of concept (POC).
Funding in Saudi Arabian start-ups grew by SAR2.19bn in H1-22
The funding deployed to Saudi Arabian start-ups grew by 244% to a record high of SAR2.19bn in H1 2022 compared to H1 2021. According to the ‘H1 2022 Saudi Arabia Venture Capital Report,’ this figure surpassed the total amount deployed in 2021. According to the Saudi Press Agency, a record-high of eighty-eight investors participated in deals closed by Saudi start-ups in H1 2022, up 126% versus H1 2021, where 42 percent of the investors were from outside the Kingdom.
US-based start-up Way.com to enter UAE market
US-based auto sector financial technology startup Way.com is set to enter the UAE market, marking yet another success for the Gulf country’s recently announced policy to attract foreign investments and talents in the technology sector. Way.com, a D2C – direct-to-consumer marketplace – will offer a basket of services in the auto sector such as car financing, car insurance, breakdown services, car wash, and parking assistance to customers in the UAE market.
UAE tech start-up Supy $8m in new funding round
Supy, a UAE-based technology start-up that streamlines transactions between restaurants and suppliers, raised $8 million in new funding round as the company aims to boost its technology capabilities and expand into new markets. The latest funding round, which was led by Dubai’s early-stage venture capital firm Beco Capital, also included participation by existing investors such as Valia Ventures and Cotu Ventures, Supy.
UAE’s first q-commerce marketplace Veppy.com to launch
On August 27, Veppy.com, the first quick-commerce (q-commerce) marketplace in the UAE, will open for business. Before the opening, the start-up is seeking suppliers and merchants to register their businesses and advertise their products online. The main premise behind q-commerce is that consumers would start purchasing goods online to receive them quickly. Real estate developer and veppy.com founder Moustafa Banbouk have completed more than 50 residential and commercial projects in his native Lebanon over the previous three decades.
